VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

The Estee Lauder Companies Inc. vs Spotify Technology S.A.

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

The Estee Lauder Companies Inc.

EL · New York Stock Exchange

Market cap (USD)$39B
Gross margin (TTM)74.2%
Operating margin (TTM)-0.7%
Net margin (TTM)-6.4%
SectorConsumer
IndustryHousehold & Personal Products
CountryUS
Data as of2025-12-23
Moat score
70/ 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 The Estee Lauder Companies Inc.'s moat claims, evidence, and risks.

View EL 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: The Estee Lauder Companies Inc. leads (70 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: The Estee Lauder Companies Inc. has 5 segments (48.6% in Skin Care); 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: The Estee Lauder Companies Inc. has 4 moat types across 2 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

The Estee Lauder Companies Inc.

Skin Care

Market

Prestige skin care products

Geography

Global

Customer

Consumers

Role

Branded manufacturer/marketer

Revenue share

48.6%

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

The Estee Lauder Companies Inc.
Spotify Technology S.A.
Ticker / Exchange
EL - New York Stock Exchange
SPOT - New York Stock Exchange
Market cap (USD)
$39B
$121.5B
Gross margin (TTM)
74.2%
31.8%
Operating margin (TTM)
-0.7%
11.7%
Net margin (TTM)
-6.4%
8.3%
Sector
Consumer
Communication Services
Industry
Household & Personal Products
Internet Content & Information
HQ country
US
LU
Primary segment
Skin Care
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
70 / 100
65 / 100
Moat domains
Demand, Supply
Network, Demand, Legal, Supply
Last update
2025-12-23
2026-01-06

Moat coverage

Shared moat types

Brand Trust

The Estee Lauder Companies Inc. strengths

Distribution ControlOperational ExcellenceScope Economies

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights CurrencyScale Economies Unit Cost

Segment mix

The Estee Lauder Companies Inc. segments

Full profile >

Skin Care

Oligopoly

48.6%

Makeup

Oligopoly

29.4%

Fragrance

Oligopoly

17.4%

Hair Care

Competitive

3.9%

Other

Competitive

0.7%

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.