VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Dino Polska S.A. vs Spotify Technology S.A.

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

Dino Polska S.A.

DNP · Warsaw Stock Exchange

Market cap (USD)$3.7B
Gross margin (TTM)26.1%
Operating margin (TTM)272.7%
Net margin (TTM)261.5%
SectorConsumer
IndustryAsset Management - Income
CountryPL
Data as of2026-01-05
Moat score
66/ 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 Dino Polska S.A.'s moat claims, evidence, and risks.

View DNP 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: Dino Polska S.A. leads (66 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Dino Polska S.A. has 1 segment (100% in Proximity grocery retail (Dino stores)); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Dino Polska S.A. has 5 moat types across 2 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Dino Polska S.A.

Proximity grocery retail (Dino stores)

Market

Retail grocery (mid-sized proximity supermarkets)

Geography

Poland

Customer

Households / consumers

Role

Brick-and-mortar grocery retailer

Revenue share

100%

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

Dino Polska S.A.
Spotify Technology S.A.
Ticker / Exchange
DNP - Warsaw Stock Exchange
SPOT - New York Stock Exchange
Market cap (USD)
$3.7B
$121.5B
Gross margin (TTM)
26.1%
31.8%
Operating margin (TTM)
272.7%
11.7%
Net margin (TTM)
261.5%
8.3%
Sector
Consumer
Communication Services
Industry
Asset Management - Income
Internet Content & Information
HQ country
PL
LU
Primary segment
Proximity grocery retail (Dino stores)
Premium (subscription)
Market structure
Oligopoly
Oligopoly
Market share
7%-9% (reported)
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
66 / 100
65 / 100
Moat domains
Supply, Demand
Network, Demand, Legal, Supply
Last update
2026-01-05
2026-01-06

Moat coverage

Shared moat types

Scale Economies Unit Cost

Dino Polska S.A. strengths

Physical Network DensityHabit DefaultSupply Chain ControlOperational Excellence

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkBrand TrustContent Rights Currency

Segment mix

Dino Polska S.A. segments

Full profile >

Proximity grocery retail (Dino stores)

Oligopoly

100%

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?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.