VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

The Hershey Company vs PepsiCo, 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)$45B
Gross margin (TTM)33.3%
Operating margin (TTM)12.1%
Net margin (TTM)7.6%
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

PepsiCo, Inc.

PEP · Nasdaq Global Select Market

Market cap (USD)$225.5B
Gross margin (TTM)54.2%
Operating margin (TTM)12.2%
Net margin (TTM)8.8%
SectorConsumer
IndustryBeverages - Non-Alcoholic
CountryUS
Data as of2025-12-23
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 PepsiCo, Inc.'s moat claims, evidence, and risks.

View PEP analysis

Comparison highlights

  • Moat score gap: The Hershey Company leads (75 / 100 vs 72 / 100 for PepsiCo, Inc.).
  • Segment focus: The Hershey Company has 3 segments (81.4% in North America Confectionery); PepsiCo, Inc. has 7 segments (27% in Frito-Lay North America (FLNA)).
  • Moat breadth: The Hershey Company has 4 moat types across 2 domains; PepsiCo, Inc. has 4 across 2.

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%

PepsiCo, Inc.

Frito-Lay North America (FLNA)

Market

Branded convenient foods (salty snacks, dips and adjacent categories)

Geography

United States and Canada

Customer

Retailers, convenience stores, foodservice

Role

Branded manufacturer + distributor (DSD/warehouse/distributor networks)

Revenue share

27%

Side-by-side metrics

The Hershey Company
PepsiCo, Inc.
Ticker / Exchange
HSY - New York Stock Exchange
PEP - Nasdaq Global Select Market
Market cap (USD)
$45B
$225.5B
Gross margin (TTM)
33.3%
54.2%
Operating margin (TTM)
12.1%
12.2%
Net margin (TTM)
7.6%
8.8%
Sector
Consumer
Consumer
Industry
Food Confectioners
Beverages - Non-Alcoholic
HQ country
US
US
Primary segment
North America Confectionery
Frito-Lay North America (FLNA)
Market structure
Oligopoly
Oligopoly
Market share
34%-38% (reported)
54%-58% (implied)
HHI estimate
n/a
3,530
Pricing power
Moderate
Moderate
Moat score
75 / 100
72 / 100
Moat domains
Demand, Supply
Supply, Demand
Last update
2025-12-26
2025-12-23

Moat coverage

Shared moat types

Brand TrustDistribution ControlScope Economies

The Hershey Company strengths

Operational Excellence

PepsiCo, Inc. strengths

Scale Economies Unit Cost

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%

PepsiCo, Inc. segments

Full profile >

Frito-Lay North America (FLNA)

Oligopoly

27%

Quaker Foods North America (QFNA)

Competitive

4.2%

PepsiCo Beverages North America (PBNA)

Oligopoly

19.9%

Latin America (LatAm)

Oligopoly

12.3%

Europe

Oligopoly

22.4%

Africa, Middle East and South Asia (AMESA)

Competitive

8.8%

Asia Pacific, Australia & New Zealand and China Region (APAC)

Competitive

5.5%

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.