VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Wide Moat StocksExpansion-Stage Stocks Home My Collections

Stock Comparison

Fair Isaac Corporation vs Spotify Technology S.A.

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

Fair Isaac Corporation

FICO · New York Stock Exchange

Market cap (USD)$40.1B
Gross margin (TTM)82.2%
Operating margin (TTM)46.5%
Net margin (TTM)32.8%
SectorTechnology
IndustrySoftware - Application
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 Fair Isaac Corporation's moat claims, evidence, and risks.

View FICO 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: Fair Isaac Corporation leads (82 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Fair Isaac Corporation has 2 segments (58.7% in Scores); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Fair Isaac Corporation has 5 moat types across 2 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Fair Isaac Corporation

Scores

Market

Consumer credit scoring and related predictive scores used in lending decisions

Geography

Primarily United States; also international

Customer

Lenders (mortgage, credit card, auto, etc.), consumer reporting agencies, and consumers (B2C)

Role

Score model developer/licensor; distribution via consumer reporting agencies and direct-to-consumer channels

Revenue share

58.7%

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

Fair Isaac Corporation
Spotify Technology S.A.
Ticker / Exchange
FICO - New York Stock Exchange
SPOT - New York Stock Exchange
Market cap (USD)
$40.1B
$121.5B
Gross margin (TTM)
82.2%
31.8%
Operating margin (TTM)
46.5%
11.7%
Net margin (TTM)
32.8%
8.3%
Sector
Technology
Communication Services
Industry
Software - Application
Internet Content & Information
HQ country
US
LU
Primary segment
Scores
Premium (subscription)
Market structure
Quasi-Monopoly
Oligopoly
Market share
90% (reported)
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
82 / 100
65 / 100
Moat domains
Network, Demand
Network, Demand, Legal, Supply
Last update
2025-12-31
2026-01-06

Moat coverage

Shared moat types

Brand Trust

Fair Isaac Corporation strengths

De Facto StandardFormat Lock InData Workflow LockinSwitching Costs General

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights CurrencyScale Economies Unit Cost

Segment mix

Fair Isaac Corporation segments

Full profile >

Scores

Quasi-Monopoly

58.7%

Software

Competitive

41.3%

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?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.