VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Kenvue Inc. vs Spotify Technology S.A.

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

Kenvue Inc.

KVUE · New York Stock Exchange

Market cap (USD)$32.2B
Gross margin (TTM)58.1%
Operating margin (TTM)15.7%
Net margin (TTM)9.6%
SectorConsumer
IndustryHousehold & Personal Products
CountryUS
Data as of2025-12-25
Moat score
66/ 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 Kenvue Inc.'s moat claims, evidence, and risks.

View KVUE 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: Kenvue Inc. leads (66 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Kenvue Inc. has 3 segments (42.3% in Self Care); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Moat breadth: Kenvue Inc. has 6 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Kenvue Inc.

Self Care

Market

OTC self-care consumer health products (pain care, cough/cold/allergy, digestive health, smoking cessation, eye care)

Geography

Global

Customer

Consumers via retailers, pharmacies, and e-commerce

Role

Branded consumer health products manufacturer

Revenue share

42.3%

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

Kenvue Inc.
Spotify Technology S.A.
Ticker / Exchange
KVUE - New York Stock Exchange
SPOT - New York Stock Exchange
Market cap (USD)
$32.2B
$121.5B
Gross margin (TTM)
58.1%
31.8%
Operating margin (TTM)
15.7%
11.7%
Net margin (TTM)
9.6%
8.3%
Sector
Consumer
Communication Services
Industry
Household & Personal Products
Internet Content & Information
HQ country
US
LU
Primary segment
Self Care
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
66 / 100
65 / 100
Moat domains
Demand, Supply, Legal
Network, Demand, Legal, Supply
Last update
2025-12-25
2026-01-06

Moat coverage

Shared moat types

Brand TrustScale Economies Unit Cost

Kenvue Inc. strengths

Compliance AdvantageScope EconomiesDistribution ControlHabit Default

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights Currency

Segment mix

Kenvue Inc. segments

Full profile >

Self Care

Oligopoly

42.3%

Skin Health and Beauty

Competitive

27.4%

Essential Health

Competitive

30.3%

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?

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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.