VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Equinix, Inc. vs Spotify Technology S.A.

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

Equinix, Inc.

EQIX · The Nasdaq Stock Market LLC

Market cap (USD)$75.3B
Gross margin (TTM)50.3%
Operating margin (TTM)16.9%
Net margin (TTM)11.8%
SectorReal Estate
IndustryREIT - Specialty
CountryUS
Data as of2025-12-31
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 Equinix, Inc.'s moat claims, evidence, and risks.

View EQIX 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: Equinix, Inc. leads (66 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Equinix, Inc. has 3 segments; Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: n/a vs Moderate.
  • Moat breadth: Equinix, Inc. has 7 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Equinix, Inc.

IBX Colocation & Interconnection Platform

Market

Carrier-neutral multi-tenant data centers (colocation) and physical interconnection (cross connects, exchanges) in network-dense metros

Geography

Global

Customer

Enterprises and service providers

Role

Digital infrastructure / colocation operator and interconnection hub

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

Equinix, Inc.
Spotify Technology S.A.
Ticker / Exchange
EQIX - The Nasdaq Stock Market LLC
SPOT - New York Stock Exchange
Market cap (USD)
$75.3B
$121.5B
Gross margin (TTM)
50.3%
31.8%
Operating margin (TTM)
16.9%
11.7%
Net margin (TTM)
11.8%
8.3%
Sector
Real Estate
Communication Services
Industry
REIT - Specialty
Internet Content & Information
HQ country
US
LU
Primary segment
IBX Colocation & Interconnection Platform
Premium (subscription)
Market structure
Oligopoly
Oligopoly
Market share
n/a
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
n/a
Moderate
Moat score
66 / 100
65 / 100
Moat domains
Supply, Network, Demand
Network, Demand, Legal, Supply
Last update
2025-12-31
2026-01-06

Moat coverage

Shared moat types

Brand TrustInteroperability Hub

Equinix, Inc. strengths

Physical Network DensityEcosystem ComplementsSwitching Costs GeneralCapex Knowhow ScaleCapacity Moat

Spotify Technology S.A. strengths

Data Network EffectsTwo Sided NetworkContent Rights CurrencyScale Economies Unit Cost

Segment mix

Equinix, Inc. segments

Full profile >

IBX Colocation & Interconnection Platform

Oligopoly

n/a

Hyperscale xScale & Joint Ventures

Competitive

n/a

Digital Services & Software-Defined Interconnection

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?

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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.