VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Wednesday, January 7, 2026

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Stock Comparison

BRP Inc. vs Spotify Technology S.A.

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

BRP Inc.

DOO · Toronto Stock Exchange

Market cap (USD)$7.3B
Gross margin (TTM)21.8%
Operating margin (TTM)6.2%
Net margin (TTM)0.3%
SectorConsumer
IndustryAuto - Recreational Vehicles
CountryCA
Data as of2025-12-30
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 BRP Inc.'s moat claims, evidence, and risks.

View DOO 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: BRP Inc. leads (74 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: BRP Inc. has 4 segments (55% in Powersports - Year-Round Products); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Moat breadth: BRP Inc. has 4 moat types across 2 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

BRP Inc.

Powersports - Year-Round Products

Market

ATV and recreational/utility side-by-side vehicles (SSV/UTV); 3-wheeled on-road vehicles

Geography

Global (heavy North America exposure)

Customer

Consumers and utility/commercial users

Role

OEM

Revenue share

55%

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

BRP Inc.
Spotify Technology S.A.
Ticker / Exchange
DOO - Toronto Stock Exchange
SPOT - New York Stock Exchange
Market cap (USD)
$7.3B
$121.5B
Gross margin (TTM)
21.8%
31.8%
Operating margin (TTM)
6.2%
11.7%
Net margin (TTM)
0.3%
8.3%
Sector
Consumer
Communication Services
Industry
Auto - Recreational Vehicles
Internet Content & Information
HQ country
CA
LU
Primary segment
Powersports - Year-Round Products
Premium (subscription)
Market structure
Oligopoly
Oligopoly
Market share
n/a
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 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

BRP Inc. strengths

Distribution ControlInstalled Base ConsumablesDesign In Qualification

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights CurrencyScale Economies Unit Cost

Segment mix

BRP Inc. segments

Full profile >

Powersports - Year-Round Products

Oligopoly

55%

Powersports - Seasonal Products

Oligopoly

30.3%

Powersports - Parts, Accessories & Apparel; OEM Engines & Gearboxes

Competitive

14.7%

Marine Boats Businesses (Divestiture/Discontinued)

Competitive

n/a

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.

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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.