VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Diageo plc vs Spotify Technology S.A.

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

Diageo plc

DGE · London Stock Exchange

Market cap (USD)$36.4B
Gross margin (TTM)60.2%
Operating margin (TTM)27.9%
Net margin (TTM)15.3%
SectorConsumer
IndustryBeverages - Wineries & Distilleries
CountryGB
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 Diageo plc's moat claims, evidence, and risks.

View DGE analysis

Spotify Technology S.A.

SPOT · New York Stock Exchange

Market cap (USD)$121.5B
Gross margin (TTM)31.8%
Operating margin (TTM)11.7%
Net margin (TTM)8.3%
SectorCommunication Services
IndustryInternet Content & Information
CountryLU
Data as of2026-01-06
Moat score
65/ 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 Spotify Technology S.A.'s moat claims, evidence, and risks.

View SPOT analysis

Comparison highlights

  • Moat score gap: Diageo plc leads (77 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Diageo plc has 3 segments (76% in Spirits); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Diageo plc has 3 moat types across 2 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Diageo plc

Spirits

Market

Branded premium spirits (whisky, tequila, vodka, gin, rum, liqueurs)

Geography

Global

Customer

Consumers via off-trade retailers and on-trade outlets; distributors/wholesalers and key accounts

Role

Brand owner and producer with route-to-market execution

Revenue share

76%

Spotify Technology S.A.

Premium (subscription)

Market

Paid music and audio streaming subscriptions

Geography

Global

Customer

Consumers (end-users) and distribution partners (e.g., telcos)

Role

Streaming platform operator

Revenue share

88.2%

Side-by-side metrics

Diageo plc
Spotify Technology S.A.
Ticker / Exchange
DGE - London Stock Exchange
SPOT - New York Stock Exchange
Market cap (USD)
$36.4B
$121.5B
Gross margin (TTM)
60.2%
31.8%
Operating margin (TTM)
27.9%
11.7%
Net margin (TTM)
15.3%
8.3%
Sector
Consumer
Communication Services
Industry
Beverages - Wineries & Distilleries
Internet Content & Information
HQ country
GB
LU
Primary segment
Spirits
Premium (subscription)
Market structure
Oligopoly
Oligopoly
Market share
n/a
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
77 / 100
65 / 100
Moat domains
Demand, Supply
Network, Demand, Legal, Supply
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Brand Trust

Diageo plc strengths

Distribution ControlCapacity Moat

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights CurrencyScale Economies Unit Cost

Segment mix

Diageo plc segments

Full profile >

Spirits

Oligopoly

76%

Beer (Guinness and other beers)

Oligopoly

18%

Ready-to-Drink (RTDs)

Competitive

4%

Spotify Technology S.A. segments

Full profile >

Premium (subscription)

Oligopoly

88.2%

Ad-Supported (advertising)

Competitive

11.8%

Want the full wide moat stocks list?

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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.