VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Games Workshop Group PLC vs International Flavors & Fragrances Inc.

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

Games Workshop Group PLC

GAW · London Stock Exchange

Market cap (USD)$6.2B
Gross margin (TTM)71.9%
Operating margin (TTM)41%
Net margin (TTM)30.4%
SectorConsumer
IndustryLeisure
CountryGB
Data as of2026-01-05
Moat score
87/ 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 Games Workshop Group PLC's moat claims, evidence, and risks.

View GAW analysis

International Flavors & Fragrances Inc.

IFF · New York Stock Exchange

Market cap (USD)$17.1B
Gross margin (TTM)36.4%
Operating margin (TTM)-3.2%
Net margin (TTM)-3.7%
SectorMaterials
IndustryChemicals - Specialty
CountryUS
Data as of2025-12-29
Moat score
59/ 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 International Flavors & Fragrances Inc.'s moat claims, evidence, and risks.

View IFF analysis

Comparison highlights

  • Moat score gap: Games Workshop Group PLC leads (87 / 100 vs 59 / 100 for International Flavors & Fragrances Inc.).
  • Segment focus: Games Workshop Group PLC has 2 segments (91.5% in Core (Warhammer miniatures & hobby products)); International Flavors & Fragrances Inc. has 4 segments (31.2% in Food Ingredients).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Weak.
  • Moat breadth: Games Workshop Group PLC has 8 moat types across 4 domains; International Flavors & Fragrances Inc. has 8 across 3.

Primary market context

Games Workshop Group PLC

Core (Warhammer miniatures & hobby products)

Market

Tabletop miniature wargaming and related hobby products

Geography

Global

Customer

Hobbyists/collectors (B2C) plus independent retailers (B2B)

Role

IP owner + designer/manufacturer + distributor + direct-to-consumer retail

Revenue share

91.5%

International Flavors & Fragrances Inc.

Food Ingredients

Market

Specialty food ingredients (texturizers, food protection, plant proteins, emulsifiers, sweeteners)

Geography

Global

Customer

B2B (food manufacturers)

Role

Ingredient supplier

Revenue share

31.2%

Side-by-side metrics

Games Workshop Group PLC
International Flavors & Fragrances Inc.
Ticker / Exchange
GAW - London Stock Exchange
IFF - New York Stock Exchange
Market cap (USD)
$6.2B
$17.1B
Gross margin (TTM)
71.9%
36.4%
Operating margin (TTM)
41%
-3.2%
Net margin (TTM)
30.4%
-3.7%
Sector
Consumer
Materials
Industry
Leisure
Chemicals - Specialty
HQ country
GB
US
Primary segment
Core (Warhammer miniatures & hobby products)
Food Ingredients
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
87 / 100
59 / 100
Moat domains
Legal, Demand, Network, Supply
Demand, Legal, Supply
Last update
2026-01-05
2025-12-29

Moat coverage

Shared moat types

IP Choke PointService Field NetworkSupply Chain Control

Games Workshop Group PLC strengths

Brand TrustEcosystem ComplementsInstalled Base ConsumablesContent Rights CurrencyLong Term Contracts

International Flavors & Fragrances Inc. strengths

Design In QualificationCompliance AdvantageSwitching Costs GeneralCapex Knowhow ScaleScale Economies Unit Cost

Segment mix

Games Workshop Group PLC segments

Full profile >

Core (Warhammer miniatures & hobby products)

Oligopoly

91.5%

Licensing (Warhammer IP)

Monopoly

8.5%

International Flavors & Fragrances Inc. segments

Full profile >

Taste

Oligopoly

23.9%

Food Ingredients

Competitive

31.2%

Health & Biosciences

Oligopoly

21.4%

Scent

Oligopoly

23.6%

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.