VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Heineken N.V. vs Teqnion AB (publ)

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)$39.2B
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

Teqnion AB (publ)

TEQ · Nasdaq First North Growth Market Sweden

Market cap (USD)$3.1B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
IndustryIndustrial - Distribution
CountrySE
Data as of2026-01-08
Moat score
47/ 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 Teqnion AB (publ)'s moat claims, evidence, and risks.

View TEQ analysis

Comparison highlights

  • Moat score gap: Heineken N.V. leads (65 / 100 vs 47 / 100 for Teqnion AB (publ)).
  • Segment focus: Heineken N.V. has 4 segments (38.7% in Europe); Teqnion AB (publ) has 4 segments.
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs n/a.
  • Moat breadth: Heineken N.V. has 5 moat types across 2 domains; Teqnion AB (publ) has 8 across 2.

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%

Teqnion AB (publ)

Acquisition & Portfolio Platform (Active, long-term ownership)

Market

Acquisition and long-term ownership of profitable niche industrial SMEs

Geography

Nordics, UK, Ireland

Customer

Business owners / sellers; subsidiary management teams

Role

Acquirer / holding company / active owner

Side-by-side metrics

Heineken N.V.
Teqnion AB (publ)
Ticker / Exchange
HEIA - Euronext Amsterdam
TEQ - Nasdaq First North Growth Market Sweden
Market cap (USD)
$39.2B
$3.1B
Gross margin (TTM)
21%
n/a
Operating margin (TTM)
10.8%
n/a
Net margin (TTM)
4.7%
n/a
Sector
Consumer
Financials
Industry
Beverages - Alcoholic
Industrial - Distribution
HQ country
NL
SE
Primary segment
Europe
Acquisition & Portfolio Platform (Active, long-term ownership)
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
n/a
Moat score
65 / 100
47 / 100
Moat domains
Demand, Supply
Supply, Demand
Last update
2025-12-28
2026-01-08

Moat coverage

Shared moat types

Distribution ControlOperational Excellence

Heineken N.V. strengths

Brand TrustScale Economies Unit CostData Workflow Lockin

Teqnion AB (publ) strengths

Preferential Input AccessScope EconomiesProcurement InertiaDesign In QualificationSwitching Costs GeneralLearning Curve Yield

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%

Teqnion AB (publ) segments

Full profile >

Acquisition & Portfolio Platform (Active, long-term ownership)

Competitive

n/a

Agency & Distribution Businesses

Competitive

n/a

Niche Product & Service Companies

Competitive

n/a

Manufacturing (Own-brand and Contract/OEM)

Competitive

n/a

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.