VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Games Workshop Group PLC vs Walmart 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

Walmart Inc.

WMT · New York Stock Exchange

Market cap (USD)$898.6B
Gross margin (TTM)24.9%
Operating margin (TTM)4.1%
Net margin (TTM)3.3%
SectorConsumer
IndustryDiscount Stores
CountryUS
Data as of2025-12-30
Moat score
77/ 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 Walmart Inc.'s moat claims, evidence, and risks.

View WMT analysis

Comparison highlights

  • Moat score gap: Games Workshop Group PLC leads (87 / 100 vs 77 / 100 for Walmart Inc.).
  • Segment focus: Games Workshop Group PLC has 2 segments (91.5% in Core (Warhammer miniatures & hobby products)); Walmart Inc. has 3 segments (68.3% in Walmart U.S.).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Weak.
  • Moat breadth: Games Workshop Group PLC has 8 moat types across 4 domains; Walmart Inc. has 6 across 4.

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%

Walmart Inc.

Walmart U.S.

Market

U.S. omnichannel discount retail and grocery (supercenters, neighborhood markets, eCommerce)

Geography

United States

Customer

Consumers and small businesses; marketplace sellers and advertisers (for marketplace and retail media offerings)

Role

Retailer / marketplace operator / last-mile fulfillment network

Revenue share

68.3%

Side-by-side metrics

Games Workshop Group PLC
Walmart Inc.
Ticker / Exchange
GAW - London Stock Exchange
WMT - New York Stock Exchange
Market cap (USD)
$6.2B
$898.6B
Gross margin (TTM)
71.9%
24.9%
Operating margin (TTM)
41%
4.1%
Net margin (TTM)
30.4%
3.3%
Sector
Consumer
Consumer
Industry
Leisure
Discount Stores
HQ country
GB
US
Primary segment
Core (Warhammer miniatures & hobby products)
Walmart U.S.
Market structure
Oligopoly
Competitive
Market share
n/a
20%-22% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
87 / 100
77 / 100
Moat domains
Legal, Demand, Network, Supply
Supply, Demand, Network, Financial
Last update
2026-01-05
2025-12-30

Moat coverage

Shared moat types

Ecosystem ComplementsSupply Chain Control

Games Workshop Group PLC strengths

IP Choke PointBrand TrustService Field NetworkInstalled Base ConsumablesContent Rights CurrencyLong Term Contracts

Walmart Inc. strengths

Scale Economies Unit CostPhysical Network DensityHabit DefaultFloat Prepayment

Segment mix

Games Workshop Group PLC segments

Full profile >

Core (Warhammer miniatures & hobby products)

Oligopoly

91.5%

Licensing (Warhammer IP)

Monopoly

8.5%

Walmart Inc. segments

Full profile >

Walmart U.S.

Competitive

68.3%

Walmart International

Competitive

18.1%

Sam's Club U.S.

Oligopoly

13.6%

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.