VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

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Stock Comparison

Constellation Software Inc. vs International Flavors & Fragrances Inc.

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

International Flavors & Fragrances Inc.

IFF · New York Stock Exchange

Market cap (USD)$17.4B

Gross margin (TTM)36.4%

Operating margin (TTM)-3.2%

Net margin (TTM)-3.7%

SectorMaterials

IndustryChemicals - Specialty

CountryUS

Data as of2025-12-29

Moat score

59/ 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 International Flavors & Fragrances Inc.'s moat claims, evidence, and risks.

View IFF analysis

Comparison highlights

Moat score gap: Constellation Software Inc. leads (74 / 100 vs 59 / 100 for International Flavors & Fragrances Inc.).
Segment focus: Constellation Software Inc. has 6 segments; International Flavors & Fragrances Inc. has 4 segments (31.2% in Food Ingredients).
Primary market structure: Competitive vs Competitive. Pricing power: Moderate vs Weak.
Moat breadth: Constellation Software Inc. has 3 moat types across 2 domains; International Flavors & Fragrances Inc. has 8 across 3.

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)

International Flavors & Fragrances Inc.

Food Ingredients

Market

Specialty food ingredients (texturizers, food protection, plant proteins, emulsifiers, sweeteners)

Geography

Global

Customer

B2B (food manufacturers)

Role

Ingredient supplier

Revenue share

31.2%

Side-by-side metrics

Constellation Software Inc.

International Flavors & Fragrances Inc.

Ticker / Exchange

CSU - Toronto Stock Exchange

IFF - New York Stock Exchange

Market cap (USD)

n/a

$17.4B

Gross margin (TTM)

n/a

36.4%

Operating margin (TTM)

n/a

-3.2%

Net margin (TTM)

n/a

-3.7%

Sector

Technology

Materials

Industry

n/a

Chemicals - Specialty

HQ country

Primary segment

Volaris Operating Group

Food Ingredients

Market structure

Competitive

Market share

n/a

HHI estimate

n/a

Pricing power

Moderate

Weak

Moat score

74 / 100

59 / 100

Moat domains

Demand, Supply

Demand, Legal, Supply

Last update

2026-01-02

2025-12-29

Moat coverage

Shared moat types

Switching Costs General

Constellation Software Inc. strengths

Installed Base ConsumablesOperational Excellence

International Flavors & Fragrances Inc. strengths

Design In QualificationIP Choke PointService Field NetworkSupply Chain ControlCompliance AdvantageCapex Knowhow ScaleScale Economies Unit Cost

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

International Flavors & Fragrances Inc. segments

Full profile >

Taste

Oligopoly

23.9%

Food Ingredients

Competitive

31.2%

Health & Biosciences

Oligopoly

21.4%

Scent

Oligopoly

23.6%

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.