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 Walmart 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

Walmart Inc.

WMT · New York Stock Exchange

Market cap (USD)$892.1B

Gross margin (TTM)24.9%

Operating margin (TTM)4.1%

Net margin (TTM)3.3%

SectorConsumer

IndustryDiscount Stores

CountryUS

Data as of2025-12-30

Moat score

77/ 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 Walmart Inc.'s moat claims, evidence, and risks.

View WMT analysis

Comparison highlights

Moat score gap: Walmart Inc. leads (77 / 100 vs 74 / 100 for Constellation Software Inc.).
Segment focus: Constellation Software Inc. has 6 segments; Walmart Inc. has 3 segments (68.3% in Walmart U.S.).
Primary market structure: Competitive vs Competitive. Pricing power: Moderate vs Weak.
Moat breadth: Constellation Software Inc. has 3 moat types across 2 domains; Walmart Inc. has 6 across 4.

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)

Walmart Inc.

Walmart U.S.

Market

U.S. omnichannel discount retail and grocery (supercenters, neighborhood markets, eCommerce)

Geography

United States

Customer

Consumers and small businesses; marketplace sellers and advertisers (for marketplace and retail media offerings)

Role

Retailer / marketplace operator / last-mile fulfillment network

Revenue share

68.3%

Side-by-side metrics

Constellation Software Inc.

Walmart Inc.

Ticker / Exchange

CSU - Toronto Stock Exchange

WMT - New York Stock Exchange

Market cap (USD)

n/a

$892.1B

Gross margin (TTM)

n/a

24.9%

Operating margin (TTM)

n/a

4.1%

Net margin (TTM)

n/a

3.3%

Sector

Technology

Consumer

Industry

n/a

Discount Stores

HQ country

Primary segment

Volaris Operating Group

Walmart U.S.

Market structure

Competitive

Market share

n/a

20%-22% (reported)

HHI estimate

n/a

Pricing power

Moderate

Weak

Moat score

74 / 100

77 / 100

Moat domains

Demand, Supply

Supply, Demand, Network, Financial

Last update

2026-01-02

2025-12-30

Moat coverage

Shared moat types

No overlap yet.

Constellation Software Inc. strengths

Switching Costs GeneralInstalled Base ConsumablesOperational Excellence

Walmart Inc. strengths

Scale Economies Unit CostPhysical Network DensityHabit DefaultSupply Chain ControlEcosystem ComplementsFloat Prepayment

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

Walmart Inc. segments

Full profile >

Walmart U.S.

Competitive

68.3%

Walmart International

Competitive

18.1%

Sam's Club U.S.

Oligopoly

13.6%

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.