VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Heineken N.V. vs KONE Oyj

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

Heineken N.V.

HEIA · Euronext Amsterdam

Market cap (USD)$38.6B
Gross margin (TTM)21%
Operating margin (TTM)10.8%
Net margin (TTM)4.7%
SectorConsumer
IndustryBeverages - Alcoholic
CountryNL
Data as of2025-12-28
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 Heineken N.V.'s moat claims, evidence, and risks.

View HEIA analysis

KONE Oyj

KNEBV · Nasdaq Helsinki

Market cap (USD)$37B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryFI
Data as of2026-01-02
Moat score
63/ 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 KONE Oyj's moat claims, evidence, and risks.

View KNEBV analysis

Comparison highlights

  • Moat score gap: Heineken N.V. leads (65 / 100 vs 63 / 100 for KONE Oyj).
  • Segment focus: Heineken N.V. has 4 segments (38.7% in Europe); KONE Oyj has 3 segments (40.6% in New Building Solutions).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Weak.
  • Moat breadth: Heineken N.V. has 5 moat types across 2 domains; KONE Oyj has 8 across 4.

Primary market context

Heineken N.V.

Europe

Market

Beer, cider and beyond-beer alcoholic beverages

Geography

Europe

Customer

Consumers via on-trade (bars/restaurants) and off-trade (retail/wholesale)

Role

Brewer / brand owner / route-to-market operator

Revenue share

38.7%

KONE Oyj

New Building Solutions

Market

Elevator, escalator and automatic building door new equipment (new installations)

Geography

Global

Customer

Property developers and general contractors

Role

OEM + project installation

Revenue share

40.6%

Side-by-side metrics

Heineken N.V.
KONE Oyj
Ticker / Exchange
HEIA - Euronext Amsterdam
KNEBV - Nasdaq Helsinki
Market cap (USD)
$38.6B
$37B
Gross margin (TTM)
21%
n/a
Operating margin (TTM)
10.8%
n/a
Net margin (TTM)
4.7%
n/a
Sector
Consumer
Industrials
Industry
Beverages - Alcoholic
n/a
HQ country
NL
FI
Primary segment
Europe
New Building Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
65 / 100
63 / 100
Moat domains
Demand, Supply
Supply, Financial, Demand, Legal
Last update
2025-12-28
2026-01-02

Moat coverage

Shared moat types

Data Workflow LockinOperational Excellence

Heineken N.V. strengths

Brand TrustDistribution ControlScale Economies Unit Cost

KONE Oyj strengths

Capex Knowhow ScaleNegative Working CapitalInstalled Base ConsumablesSwitching Costs GeneralService Field NetworkCompliance Advantage

Segment mix

Heineken N.V. segments

Full profile >

Europe

Oligopoly

38.7%

Americas

Oligopoly

34%

Africa & Middle East

Oligopoly

13.5%

Asia Pacific

Oligopoly

13.8%

KONE Oyj segments

Full profile >

New Building Solutions

Oligopoly

40.6%

Service (maintenance & repairs)

Competitive

40.6%

Modernization

Competitive

18.8%

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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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.