VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Edwards Lifesciences Corporation vs Spotify Technology S.A.

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

Edwards Lifesciences Corporation

EW · New York Stock Exchange

Market cap (USD)$49.4B
Gross margin (TTM)78.3%
Operating margin (TTM)26.6%
Net margin (TTM)23.2%
SectorHealthcare
IndustryMedical - Devices
CountryUS
Data as of2025-12-31
Moat score
82/ 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 Edwards Lifesciences Corporation's moat claims, evidence, and risks.

View EW 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: Edwards Lifesciences Corporation leads (82 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Edwards Lifesciences Corporation has 3 segments (75.5% in Transcatheter Aortic Valve Replacement (TAVR)); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Moat breadth: Edwards Lifesciences Corporation has 6 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Edwards Lifesciences Corporation

Transcatheter Aortic Valve Replacement (TAVR)

Market

Transcatheter aortic valve replacement (TAVR) devices

Geography

Global

Customer

Hospitals and structural heart centers

Role

Medical device manufacturer

Revenue share

75.5%

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

Edwards Lifesciences Corporation
Spotify Technology S.A.
Ticker / Exchange
EW - New York Stock Exchange
SPOT - New York Stock Exchange
Market cap (USD)
$49.4B
$121.5B
Gross margin (TTM)
78.3%
31.8%
Operating margin (TTM)
26.6%
11.7%
Net margin (TTM)
23.2%
8.3%
Sector
Healthcare
Communication Services
Industry
Medical - Devices
Internet Content & Information
HQ country
US
LU
Primary segment
Transcatheter Aortic Valve Replacement (TAVR)
Premium (subscription)
Market structure
Oligopoly
Oligopoly
Market share
60%-73% (estimated)
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
82 / 100
65 / 100
Moat domains
Demand, Legal, Supply
Network, Demand, Legal, Supply
Last update
2025-12-31
2026-01-06

Moat coverage

Shared moat types

Brand Trust

Edwards Lifesciences Corporation strengths

Training Org Change CostsRegulated Standards PipeIP Choke PointCompliance AdvantageSupply Chain Control

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights CurrencyScale Economies Unit Cost

Segment mix

Edwards Lifesciences Corporation segments

Full profile >

Transcatheter Aortic Valve Replacement (TAVR)

Oligopoly

75.5%

Transcatheter Mitral and Tricuspid Therapies (TMTT)

Competitive

6.5%

Surgical Structural Heart

Oligopoly

18%

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.