VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Constellation Software Inc. vs The Hershey Company

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

Constellation Software Inc.

CSU · Toronto Stock Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryCA
Data as of2026-01-02
Moat score
74/ 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 Constellation Software Inc.'s moat claims, evidence, and risks.

View CSU analysis

The Hershey Company

HSY · New York Stock Exchange

Market cap (USD)$37.2B
Gross margin (TTM)37.5%
Operating margin (TTM)16.6%
Net margin (TTM)11.8%
SectorConsumer
IndustryFood Confectioners
CountryUS
Data as of2025-12-26
Moat score
75/ 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 The Hershey Company's moat claims, evidence, and risks.

View HSY analysis

Comparison highlights

  • Moat score gap: The Hershey Company leads (75 / 100 vs 74 / 100 for Constellation Software Inc.).
  • Segment focus: Constellation Software Inc. has 6 segments; The Hershey Company has 3 segments (81.4% in North America Confectionery).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Constellation Software Inc. has 3 moat types across 2 domains; The Hershey Company has 4 across 2.

Primary market context

Constellation Software Inc.

Volaris Operating Group

Market

Vertical market software (VMS) portfolios across diverse industries (Volaris)

Geography

Global (North America, Continental Europe, UK, Australia, South America, Africa)

Customer

Organizations in specific verticals (mix of public and private sector)

Role

Vertical market software vendor (application provider + long-term maintainer)

The Hershey Company

North America Confectionery

Market

Branded chocolate and non-chocolate confectionery

Geography

United States and Canada

Customer

Retail consumers via grocery, mass, club and convenience

Role

Branded manufacturer and marketer

Revenue share

81.4%

Side-by-side metrics

Constellation Software Inc.
The Hershey Company
Ticker / Exchange
CSU - Toronto Stock Exchange
HSY - New York Stock Exchange
Market cap (USD)
n/a
$37.2B
Gross margin (TTM)
n/a
37.5%
Operating margin (TTM)
n/a
16.6%
Net margin (TTM)
n/a
11.8%
Sector
Technology
Consumer
Industry
n/a
Food Confectioners
HQ country
CA
US
Primary segment
Volaris Operating Group
North America Confectionery
Market structure
Competitive
Oligopoly
Market share
n/a
34%-38% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
75 / 100
Moat domains
Demand, Supply
Demand, Supply
Last update
2026-01-02
2025-12-26

Moat coverage

Shared moat types

Operational Excellence

Constellation Software Inc. strengths

Switching Costs GeneralInstalled Base Consumables

The Hershey Company strengths

Brand TrustDistribution ControlScope Economies

Segment mix

Constellation Software Inc. segments

Full profile >

Volaris Operating Group

Competitive

n/a

Harris Operating Group

Competitive

n/a

Topicus.com Operating Group

Competitive

n/a

Jonas Operating Group

Competitive

n/a

Perseus Operating Group

Competitive

n/a

Vela Operating Group

Competitive

n/a

The Hershey Company segments

Full profile >

North America Confectionery

Oligopoly

81.4%

North America Salty Snacks

Oligopoly

10.1%

International

Competitive

8.5%

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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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.