VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

The Coca-Cola Company vs Spotify Technology S.A.

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

The Coca-Cola Company

KO · New York Stock Exchange

Market cap (USD)$292.4B
Gross margin (TTM)61.6%
Operating margin (TTM)30.7%
Net margin (TTM)27.3%
SectorConsumer
IndustryBeverages - Non-Alcoholic
CountryUS
Data as of2025-12-30
Moat score
79/ 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 Coca-Cola Company's moat claims, evidence, and risks.

View KO 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: The Coca-Cola Company leads (79 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: The Coca-Cola Company has 6 segments (39.6% in North America); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Moat breadth: The Coca-Cola Company has 7 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

The Coca-Cola Company

North America

Market

Nonalcoholic ready-to-drink beverages

Geography

North America (primarily United States and Canada)

Customer

Retailers, foodservice, and consumers

Role

Brand owner and concentrate/syrup producer; system marketing leadership

Revenue share

39.6%

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

The Coca-Cola Company
Spotify Technology S.A.
Ticker / Exchange
KO - New York Stock Exchange
SPOT - New York Stock Exchange
Market cap (USD)
$292.4B
$121.5B
Gross margin (TTM)
61.6%
31.8%
Operating margin (TTM)
30.7%
11.7%
Net margin (TTM)
27.3%
8.3%
Sector
Consumer
Communication Services
Industry
Beverages - Non-Alcoholic
Internet Content & Information
HQ country
US
LU
Primary segment
North America
Premium (subscription)
Market structure
Oligopoly
Oligopoly
Market share
n/a
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
79 / 100
65 / 100
Moat domains
Demand, Supply, Legal
Network, Demand, Legal, Supply
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Brand Trust

The Coca-Cola Company strengths

Distribution ControlLong Term ContractsScope EconomiesIP Choke PointService Field NetworkOperational Excellence

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights CurrencyScale Economies Unit Cost

Segment mix

The Coca-Cola Company segments

Full profile >

Europe, Middle East & Africa

Oligopoly

15.8%

Latin America

Oligopoly

13.7%

North America

Oligopoly

39.6%

Asia Pacific

Oligopoly

10.8%

Global Ventures

Competitive

6.6%

Bottling Investments

Competitive

13.2%

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?

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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.