VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Thursday, January 8, 2026

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Stock Comparison

Hilton Worldwide Holdings Inc. vs Spotify Technology S.A.

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

Hilton Worldwide Holdings Inc.

HLT · New York Stock Exchange

Market cap (USD)$66.4B
Gross margin (TTM)27.8%
Operating margin (TTM)22%
Net margin (TTM)14.2%
SectorConsumer
IndustryTravel Lodging
CountryUS
Data as of2026-01-01
Moat score
72/ 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 Hilton Worldwide Holdings Inc.'s moat claims, evidence, and risks.

View HLT 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: Hilton Worldwide Holdings Inc. leads (72 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Hilton Worldwide Holdings Inc. has 2 segments (72.7% in Management and Franchise); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Moat breadth: Hilton Worldwide Holdings Inc. has 5 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Hilton Worldwide Holdings Inc.

Management and Franchise

Market

Hotel management, franchising and brand licensing

Geography

Global

Customer

Third-party hotel owners / franchisees and strategic partners

Role

Franchisor / manager / IP licensor

Revenue share

72.7%

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

Hilton Worldwide Holdings Inc.
Spotify Technology S.A.
Ticker / Exchange
HLT - New York Stock Exchange
SPOT - New York Stock Exchange
Market cap (USD)
$66.4B
$121.5B
Gross margin (TTM)
27.8%
31.8%
Operating margin (TTM)
22%
11.7%
Net margin (TTM)
14.2%
8.3%
Sector
Consumer
Communication Services
Industry
Travel Lodging
Internet Content & Information
HQ country
US
LU
Primary segment
Management and Franchise
Premium (subscription)
Market structure
Oligopoly
Oligopoly
Market share
13%-15% (implied)
31%-33% (reported)
HHI estimate
1,350
n/a
Pricing power
Moderate
Moderate
Moat score
72 / 100
65 / 100
Moat domains
Network, Demand, Supply
Network, Demand, Legal, Supply
Last update
2026-01-01
2026-01-06

Moat coverage

Shared moat types

Two Sided NetworkScale Economies Unit CostBrand Trust

Hilton Worldwide Holdings Inc. strengths

Long Term ContractsEcosystem Complements

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubContent Rights Currency

Segment mix

Hilton Worldwide Holdings Inc. segments

Full profile >

Management and Franchise

Oligopoly

72.7%

Ownership

Competitive

27.3%

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.