VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Games Workshop Group PLC vs Mondelez International, 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

Mondelez International, Inc.

MDLZ · Nasdaq Global Select Market

Market cap (USD)$69.4B
Gross margin (TTM)31.1%
Operating margin (TTM)11.2%
Net margin (TTM)9.4%
SectorConsumer
IndustryFood Confectioners
CountryUS
Data as of2025-12-23
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 Mondelez International, Inc.'s moat claims, evidence, and risks.

View MDLZ analysis

Comparison highlights

  • Moat score gap: Games Workshop Group PLC leads (87 / 100 vs 66 / 100 for Mondelez International, Inc.).
  • Segment focus: Games Workshop Group PLC has 2 segments (91.5% in Core (Warhammer miniatures & hobby products)); Mondelez International, Inc. has 5 segments (48.9% in Biscuits & Baked Snacks).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Games Workshop Group PLC has 8 moat types across 4 domains; Mondelez International, Inc. has 4 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%

Mondelez International, Inc.

Biscuits & Baked Snacks

Market

Branded biscuits, cookies, crackers and baked snacks

Geography

Global

Customer

Consumer (via retail and e-commerce)

Role

Branded manufacturer

Revenue share

48.9%

Side-by-side metrics

Games Workshop Group PLC
Mondelez International, Inc.
Ticker / Exchange
GAW - London Stock Exchange
MDLZ - Nasdaq Global Select Market
Market cap (USD)
$6.2B
$69.4B
Gross margin (TTM)
71.9%
31.1%
Operating margin (TTM)
41%
11.2%
Net margin (TTM)
30.4%
9.4%
Sector
Consumer
Consumer
Industry
Leisure
Food Confectioners
HQ country
GB
US
Primary segment
Core (Warhammer miniatures & hobby products)
Biscuits & Baked Snacks
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
87 / 100
66 / 100
Moat domains
Legal, Demand, Network, Supply
Demand, Supply, Legal
Last update
2026-01-05
2025-12-23

Moat coverage

Shared moat types

IP Choke PointBrand TrustSupply Chain Control

Games Workshop Group PLC strengths

Ecosystem ComplementsService Field NetworkInstalled Base ConsumablesContent Rights CurrencyLong Term Contracts

Mondelez International, Inc. strengths

Distribution Control

Segment mix

Games Workshop Group PLC segments

Full profile >

Core (Warhammer miniatures & hobby products)

Oligopoly

91.5%

Licensing (Warhammer IP)

Monopoly

8.5%

Mondelez International, Inc. segments

Full profile >

Biscuits & Baked Snacks

Oligopoly

48.9%

Chocolate

Oligopoly

30.9%

Gum & Candy

Oligopoly

11.1%

Beverages

Competitive

3%

Cheese & Grocery

Competitive

6.2%

Want the full wide moat stocks list?

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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.