VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Casey's General Stores, Inc. vs Cadence Design Systems, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Casey's General Stores, Inc.

CASY · NASDAQ

Market cap (USD)$21B
Gross margin (TTM)23.4%
Operating margin (TTM)5.3%
Net margin (TTM)3.6%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2026-01-06
Moat score
54/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Casey's General Stores, Inc.'s moat claims, evidence, and risks.

View CASY analysis

Cadence Design Systems, Inc.

CDNS · NASDAQ

Market cap (USD)$82B
Gross margin (TTM)87.8%
Operating margin (TTM)28.5%
Net margin (TTM)20.4%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2025-12-29
Moat score
84/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Cadence Design Systems, Inc.'s moat claims, evidence, and risks.

View CDNS analysis

Comparison highlights

  • Moat score gap: Cadence Design Systems, Inc. leads (84 / 100 vs 54 / 100 for Casey's General Stores, Inc.).
  • Segment focus: Casey's General Stores, Inc. has 4 segments (61.3% in Fuel); Cadence Design Systems, Inc. has 3 segments (71% in Core EDA).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Strong.
  • Moat breadth: Casey's General Stores, Inc. has 7 moat types across 2 domains; Cadence Design Systems, Inc. has 8 across 3.

Primary market context

Casey's General Stores, Inc.

Fuel

Market

Retail motor fuel sold through convenience-store fuel sites (gasoline and diesel)

Geography

United States (Casey's operating footprint; Midwest/South)

Customer

Motorists / consumers (in-store and pay-at-the-pump transactions)

Role

Fuel retailer (with some self-distribution/wholesale capabilities)

Revenue share

61.3%

Cadence Design Systems, Inc.

Core EDA

Market

Electronic design automation tools for semiconductor IC design and verification (digital, custom/analog, signoff, functional verification)

Geography

Global

Customer

Semiconductor designers (fabless and IDMs) and system companies with in-house silicon teams

Role

Tool vendor / workflow platform

Revenue share

71%

Side-by-side metrics

Casey's General Stores, Inc.
Cadence Design Systems, Inc.
Ticker / Exchange
CASY - NASDAQ
CDNS - NASDAQ
Market cap (USD)
$21B
$82B
Gross margin (TTM)
23.4%
87.8%
Operating margin (TTM)
5.3%
28.5%
Net margin (TTM)
3.6%
20.4%
Sector
Consumer
Technology
Industry
Specialty Retail
Software - Application
HQ country
US
US
Primary segment
Fuel
Core EDA
Market structure
Competitive
Oligopoly
Market share
n/a
29%-31% (estimated)
HHI estimate
n/a
n/a
Pricing power
Weak
Strong
Moat score
54 / 100
84 / 100
Moat domains
Demand, Supply
Demand, Legal, Supply
Last update
2026-01-06
2025-12-29

Moat coverage

Shared moat types

No overlap yet.

Casey's General Stores, Inc. strengths

Brand TrustOperational ExcellencePhysical Network DensityDistribution ControlHabit DefaultSupply Chain ControlScope Economies

Cadence Design Systems, Inc. strengths

Data Workflow LockinSuite BundlingLong Term ContractsDesign In QualificationInstalled Base ConsumablesIP Choke PointCapex Knowhow ScaleService Field Network

Segment mix

Casey's General Stores, Inc. segments

Full profile >

Prepared Food and Dispensed Beverage

Competitive

10.1%

Grocery and General Merchandise

Competitive

26%

Fuel

Competitive

61.3%

Other (wholesale fuel, car wash, lottery)

Competitive

2.6%

Cadence Design Systems, Inc. segments

Full profile >

Core EDA

Oligopoly

71%

Semiconductor IP

Oligopoly

13%

System Design and Analysis

Competitive

16%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.