VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Wednesday, January 7, 2026

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Stock Comparison

The Hershey Company vs KKR & Co. Inc.

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

The Hershey Company

HSY · New York Stock Exchange

Market cap (USD)$36.5B
Gross margin (TTM)37.5%
Operating margin (TTM)16.6%
Net margin (TTM)11.8%
SectorConsumer
IndustryFood Confectioners
CountryUS
Data as of2025-12-26
Moat score
75/ 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 The Hershey Company's moat claims, evidence, and risks.

View HSY analysis

KKR & Co. Inc.

KKR · New York Stock Exchange

Market cap (USD)$119.9B
Gross margin (TTM)19.5%
Operating margin (TTM)2.6%
Net margin (TTM)14.1%
SectorFinancials
IndustryAsset Management
CountryUS
Data as of2026-01-06
Moat score
67/ 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 KKR & Co. Inc.'s moat claims, evidence, and risks.

View KKR analysis

Comparison highlights

  • Moat score gap: The Hershey Company leads (75 / 100 vs 67 / 100 for KKR & Co. Inc.).
  • Segment focus: The Hershey Company has 3 segments (81.4% in North America Confectionery); KKR & Co. Inc. has 3 segments (52.3% in Asset Management).
  • Moat breadth: The Hershey Company has 4 moat types across 2 domains; KKR & Co. Inc. has 7 across 4.

Primary market context

The Hershey Company

North America Confectionery

Market

Branded chocolate and non-chocolate confectionery

Geography

United States and Canada

Customer

Retail consumers via grocery, mass, club and convenience

Role

Branded manufacturer and marketer

Revenue share

81.4%

KKR & Co. Inc.

Asset Management

Market

Alternative asset management (private equity, private credit, real assets, and related strategies)

Geography

Global

Customer

Institutional and wealth investors (LPs) allocating to private markets

Role

General partner / investment manager

Revenue share

52.3%

Side-by-side metrics

The Hershey Company
KKR & Co. Inc.
Ticker / Exchange
HSY - New York Stock Exchange
KKR - New York Stock Exchange
Market cap (USD)
$36.5B
$119.9B
Gross margin (TTM)
37.5%
19.5%
Operating margin (TTM)
16.6%
2.6%
Net margin (TTM)
11.8%
14.1%
Sector
Consumer
Financials
Industry
Food Confectioners
Asset Management
HQ country
US
US
Primary segment
North America Confectionery
Asset Management
Market structure
Oligopoly
Oligopoly
Market share
34%-38% (reported)
3.5%-5% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
75 / 100
67 / 100
Moat domains
Demand, Supply
Demand, Supply, Financial, Legal
Last update
2025-12-26
2026-01-06

Moat coverage

Shared moat types

Brand Trust

The Hershey Company strengths

Distribution ControlOperational ExcellenceScope Economies

KKR & Co. Inc. strengths

Long Term ContractsScale Economies Unit CostDeal sourcing and origination relationshipsFloat PrepaymentCompliance AdvantageCapital markets and exit execution capability

Segment mix

The Hershey Company segments

Full profile >

North America Confectionery

Oligopoly

81.4%

North America Salty Snacks

Oligopoly

10.1%

International

Competitive

8.5%

KKR & Co. Inc. segments

Full profile >

Asset Management

Oligopoly

52.3%

Insurance

Competitive

46.5%

Strategic Holdings

Competitive

1.2%

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.