VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Casey's General Stores, Inc. vs Philip Morris International 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

Philip Morris International Inc.

PM · New York Stock Exchange

Market cap (USD)$248.8B
Gross margin (TTM)66.3%
Operating margin (TTM)37.7%
Net margin (TTM)21.6%
SectorConsumer
IndustryTobacco
CountryUS
Data as of2025-12-31
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 Philip Morris International Inc.'s moat claims, evidence, and risks.

View PM analysis

Comparison highlights

  • Moat score gap: Philip Morris International 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); Philip Morris International Inc. has 3 segments (61.3% in Combustible Tobacco).
  • 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; Philip Morris International Inc. has 6 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%

Philip Morris International Inc.

Combustible Tobacco

Market

International combustible tobacco (primarily cigarettes)

Geography

Global (primarily ex-U.S.)

Customer

Adult smokers; distributors/wholesalers and retail channels

Role

Branded manufacturer and distributor

Revenue share

61.3%

Side-by-side metrics

Casey's General Stores, Inc.
Philip Morris International Inc.
Ticker / Exchange
CASY - NASDAQ
PM - New York Stock Exchange
Market cap (USD)
$21B
$248.8B
Gross margin (TTM)
23.4%
66.3%
Operating margin (TTM)
5.3%
37.7%
Net margin (TTM)
3.6%
21.6%
Sector
Consumer
Consumer
Industry
Specialty Retail
Tobacco
HQ country
US
US
Primary segment
Fuel
Combustible Tobacco
Market structure
Competitive
Oligopoly
Market share
n/a
25.3% (reported)
HHI estimate
n/a
n/a
Pricing power
Weak
Strong
Moat score
54 / 100
84 / 100
Moat domains
Demand, Supply
Demand, Supply, Legal
Last update
2026-01-06
2025-12-31

Moat coverage

Shared moat types

Brand TrustDistribution Control

Casey's General Stores, Inc. strengths

Operational ExcellencePhysical Network DensityHabit DefaultSupply Chain ControlScope Economies

Philip Morris International Inc. strengths

Compliance AdvantageInstalled Base ConsumablesIP Choke PointRegulated Standards Pipe

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%

Philip Morris International Inc. segments

Full profile >

Combustible Tobacco

Oligopoly

61.3%

Smoke-Free Products

Oligopoly

37.8%

Wellness & Healthcare

Competitive

0.9%

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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.