VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Elevance Health, Inc. vs Mondelez International, Inc.

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

Elevance Health, Inc.

ELV · New York Stock Exchange

Market cap (USD)$82.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
IndustryMedical - Healthcare Plans
CountryUS
Data as of2026-01-09
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 Elevance Health, Inc.'s moat claims, evidence, and risks.

View ELV analysis

Mondelez International, Inc.

MDLZ · Nasdaq Global Select Market

Market cap (USD)$71.1B
Gross margin (TTM)31.1%
Operating margin (TTM)11.2%
Net margin (TTM)9.4%
SectorConsumer
IndustryFood Confectioners
CountryUS
Data as of2025-12-23
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 Mondelez International, Inc.'s moat claims, evidence, and risks.

View MDLZ analysis

Comparison highlights

  • Moat score gap: Elevance Health, Inc. leads (74 / 100 vs 66 / 100 for Mondelez International, Inc.).
  • Segment focus: Elevance Health, Inc. has 3 segments (85.2% in Health Benefits); Mondelez International, Inc. has 5 segments (48.9% in Biscuits & Baked Snacks).
  • Moat breadth: Elevance Health, Inc. has 8 moat types across 3 domains; Mondelez International, Inc. has 4 across 3.

Primary market context

Elevance Health, Inc.

Health Benefits

Market

U.S. health insurance and managed care

Geography

United States

Customer

Employers, individuals, and government programs

Role

Payer / managed care organization

Revenue share

85.2%

Mondelez International, Inc.

Biscuits & Baked Snacks

Market

Branded biscuits, cookies, crackers and baked snacks

Geography

Global

Customer

Consumer (via retail and e-commerce)

Role

Branded manufacturer

Revenue share

48.9%

Side-by-side metrics

Elevance Health, Inc.
Mondelez International, Inc.
Ticker / Exchange
ELV - New York Stock Exchange
MDLZ - Nasdaq Global Select Market
Market cap (USD)
$82.8B
$71.1B
Gross margin (TTM)
n/a
31.1%
Operating margin (TTM)
n/a
11.2%
Net margin (TTM)
n/a
9.4%
Sector
Healthcare
Consumer
Industry
Medical - Healthcare Plans
Food Confectioners
HQ country
US
US
Primary segment
Health Benefits
Biscuits & Baked Snacks
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
66 / 100
Moat domains
Legal, Demand, Supply
Demand, Supply, Legal
Last update
2026-01-09
2025-12-23

Moat coverage

Shared moat types

Brand Trust

Elevance Health, Inc. strengths

Concession LicenseScale Economies Unit CostGovernment Contracting RelationshipsData Workflow LockinSuite BundlingScope EconomiesSwitching Costs General

Mondelez International, Inc. strengths

Distribution ControlIP Choke PointSupply Chain Control

Segment mix

Elevance Health, Inc. segments

Full profile >

Health Benefits

Oligopoly

85.2%

CarelonRx

Oligopoly

12.8%

Carelon Services

Competitive

1.9%

Mondelez International, Inc. segments

Full profile >

Biscuits & Baked Snacks

Oligopoly

48.9%

Chocolate

Oligopoly

30.9%

Gum & Candy

Oligopoly

11.1%

Beverages

Competitive

3%

Cheese & Grocery

Competitive

6.2%

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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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.