VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

FactSet Research Systems Inc. vs Spotify Technology S.A.

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

FactSet Research Systems Inc.

FDS · New York Stock Exchange

Market cap (USD)$10.8B
Gross margin (TTM)52.3%
Operating margin (TTM)31.7%
Net margin (TTM)25.4%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2025-12-30
Moat score
85/ 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 FactSet Research Systems Inc.'s moat claims, evidence, and risks.

View FDS 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: FactSet Research Systems Inc. leads (85 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: FactSet Research Systems Inc. has 2 segments; Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Moat breadth: FactSet Research Systems Inc. has 6 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

FactSet Research Systems Inc.

Hosted Platform (Workstations & Analytics)

Market

Financial data and analytics platforms for investment professionals

Geography

Global

Customer

Institutional investors and financial institutions

Role

Software and data platform vendor

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

FactSet Research Systems Inc.
Spotify Technology S.A.
Ticker / Exchange
FDS - New York Stock Exchange
SPOT - New York Stock Exchange
Market cap (USD)
$10.8B
$121.5B
Gross margin (TTM)
52.3%
31.8%
Operating margin (TTM)
31.7%
11.7%
Net margin (TTM)
25.4%
8.3%
Sector
Financials
Communication Services
Industry
Financial - Data & Stock Exchanges
Internet Content & Information
HQ country
US
LU
Primary segment
Hosted Platform (Workstations & Analytics)
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
85 / 100
65 / 100
Moat domains
Demand, Network, Legal
Network, Demand, Legal, Supply
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

No overlap yet.

FactSet Research Systems Inc. strengths

Data Workflow LockinSwitching Costs GeneralSuite BundlingStandards RegistryDe Facto StandardConcession License

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkBrand TrustContent Rights CurrencyScale Economies Unit Cost

Segment mix

FactSet Research Systems Inc. segments

Full profile >

Hosted Platform (Workstations & Analytics)

Oligopoly

n/a

Identifier Platform (CUSIP Global Services)

Quasi-Monopoly

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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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.