VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Games Workshop Group PLC vs Philip Morris 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

Philip Morris International Inc.

PM · New York Stock Exchange

Market cap (USD)$248.8B
Gross margin (TTM)66.3%
Operating margin (TTM)37.7%
Net margin (TTM)21.6%
SectorConsumer
IndustryTobacco
CountryUS
Data as of2025-12-31
Moat score
84/ 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 Philip Morris International Inc.'s moat claims, evidence, and risks.

View PM analysis

Comparison highlights

  • Moat score gap: Games Workshop Group PLC leads (87 / 100 vs 84 / 100 for Philip Morris International Inc.).
  • Segment focus: Games Workshop Group PLC has 2 segments (91.5% in Core (Warhammer miniatures & hobby products)); Philip Morris International Inc. has 3 segments (61.3% in Combustible Tobacco).
  • Moat breadth: Games Workshop Group PLC has 8 moat types across 4 domains; Philip Morris International Inc. has 6 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%

Philip Morris International Inc.

Combustible Tobacco

Market

International combustible tobacco (primarily cigarettes)

Geography

Global (primarily ex-U.S.)

Customer

Adult smokers; distributors/wholesalers and retail channels

Role

Branded manufacturer and distributor

Revenue share

61.3%

Side-by-side metrics

Games Workshop Group PLC
Philip Morris International Inc.
Ticker / Exchange
GAW - London Stock Exchange
PM - New York Stock Exchange
Market cap (USD)
$6.2B
$248.8B
Gross margin (TTM)
71.9%
66.3%
Operating margin (TTM)
41%
37.7%
Net margin (TTM)
30.4%
21.6%
Sector
Consumer
Consumer
Industry
Leisure
Tobacco
HQ country
GB
US
Primary segment
Core (Warhammer miniatures & hobby products)
Combustible Tobacco
Market structure
Oligopoly
Oligopoly
Market share
n/a
25.3% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
87 / 100
84 / 100
Moat domains
Legal, Demand, Network, Supply
Demand, Supply, Legal
Last update
2026-01-05
2025-12-31

Moat coverage

Shared moat types

IP Choke PointBrand TrustInstalled Base Consumables

Games Workshop Group PLC strengths

Ecosystem ComplementsService Field NetworkSupply Chain ControlContent Rights CurrencyLong Term Contracts

Philip Morris International Inc. strengths

Distribution ControlCompliance AdvantageRegulated Standards Pipe

Segment mix

Games Workshop Group PLC segments

Full profile >

Core (Warhammer miniatures & hobby products)

Oligopoly

91.5%

Licensing (Warhammer IP)

Monopoly

8.5%

Philip Morris International Inc. segments

Full profile >

Combustible Tobacco

Oligopoly

61.3%

Smoke-Free Products

Oligopoly

37.8%

Wellness & Healthcare

Competitive

0.9%

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.