VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Wednesday, January 7, 2026

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Stock Comparison

Gilead Sciences, Inc. vs Spotify Technology S.A.

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

Gilead Sciences, Inc.

GILD · NASDAQ Global Select Market

Market cap (USD)$146.8B
Gross margin (TTM)78.7%
Operating margin (TTM)36.1%
Net margin (TTM)27.9%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryUS
Data as of2025-12-30
Moat score
74/ 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 Gilead Sciences, Inc.'s moat claims, evidence, and risks.

View GILD 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: Gilead Sciences, Inc. leads (74 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Gilead Sciences, Inc. has 5 segments (68.5% in HIV); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Moat breadth: Gilead Sciences, Inc. has 8 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Gilead Sciences, Inc.

HIV

Market

HIV treatment and prevention medicines (antiretroviral therapy and PrEP)

Geography

Global (U.S. and Europe are major markets)

Customer

Patients/prescribers; reimbursed by public and private payers; distributed via wholesalers and specialty pharmacies

Role

Drug developer and marketing authorization holder

Revenue share

68.5%

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

Gilead Sciences, Inc.
Spotify Technology S.A.
Ticker / Exchange
GILD - NASDAQ Global Select Market
SPOT - New York Stock Exchange
Market cap (USD)
$146.8B
$121.5B
Gross margin (TTM)
78.7%
31.8%
Operating margin (TTM)
36.1%
11.7%
Net margin (TTM)
27.9%
8.3%
Sector
Healthcare
Communication Services
Industry
Drug Manufacturers - General
Internet Content & Information
HQ country
US
LU
Primary segment
HIV
Premium (subscription)
Market structure
Oligopoly
Oligopoly
Market share
50%-60% (reported)
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
65 / 100
Moat domains
Demand, Legal, Supply
Network, Demand, Legal, Supply
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Brand Trust

Gilead Sciences, Inc. strengths

Habit DefaultSwitching Costs GeneralIP Choke PointService Field NetworkCapex Knowhow ScaleCompliance AdvantageRegulated Standards Pipe

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights CurrencyScale Economies Unit Cost

Segment mix

Gilead Sciences, Inc. segments

Full profile >

HIV

Oligopoly

68.5%

Oncology (Cell Therapy + Trodelvy)

Oligopoly

11.5%

Liver Disease

Oligopoly

10.6%

Veklury (Remdesivir)

Competitive

6.3%

Other Products

Competitive

3.1%

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.

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Looking for expansion-stage stocks?

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.