VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

LPL Financial Holdings Inc. vs Philip Morris International Inc.

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

LPL Financial Holdings Inc.

LPLA · Nasdaq

Market cap (USD)$29.9B
SectorFinancials
CountryUS
Data as of2025-12-26
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 LPL Financial Holdings Inc.'s moat claims, evidence, and risks.

View LPLA analysis

Philip Morris International Inc.

PM · New York Stock Exchange

Market cap (USD)
SectorConsumer
CountryUS
Data as of2025-12-31
Moat score
84/ 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 Philip Morris International Inc.'s moat claims, evidence, and risks.

View PM analysis

Comparison highlights

  • Moat score gap: Philip Morris International Inc. leads (84 / 100 vs 79 / 100 for LPL Financial Holdings Inc.).
  • Segment focus: LPL Financial Holdings Inc. has 1 segment (100% in Advisor Platform); Philip Morris International Inc. has 3 segments (61.3% in Combustible Tobacco).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: LPL Financial Holdings Inc. has 6 moat types across 4 domains; Philip Morris International Inc. has 6 across 3.

Primary market context

LPL Financial Holdings Inc.

Advisor Platform

Market

Advisor-mediated wealth management platform (independent broker-dealer + RIA custody/clearing)

Geography

United States

Customer

Financial advisors and financial institutions

Role

Platform / broker-dealer / custodian

Revenue share

100%

Philip Morris International Inc.

Combustible Tobacco

Market

International combustible tobacco (primarily cigarettes)

Geography

Global (primarily ex-U.S.)

Customer

Adult smokers; distributors/wholesalers and retail channels

Role

Branded manufacturer and distributor

Revenue share

61.3%

Side-by-side metrics

LPL Financial Holdings Inc.
Philip Morris International Inc.
Ticker / Exchange
LPLA - Nasdaq
PM - New York Stock Exchange
Market cap (USD)
$29.9B
n/a
Sector
Financials
Consumer
HQ country
US
US
Primary segment
Advisor Platform
Combustible Tobacco
Market structure
Oligopoly
Oligopoly
Market share
23%-25% (reported)
25.3% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
79 / 100
84 / 100
Moat domains
Supply, Demand, Legal, Network
Demand, Supply, Legal
Last update
2025-12-26
2025-12-31

Moat coverage

Shared moat types

Compliance Advantage

LPL Financial Holdings Inc. strengths

Scale Economies Unit CostSuite BundlingOperational ExcellenceTwo Sided NetworkSwitching Costs General

Philip Morris International Inc. strengths

Brand TrustDistribution ControlInstalled Base ConsumablesIP Choke PointRegulated Standards Pipe

Segment mix

LPL Financial Holdings Inc. segments

Full profile >

Advisor Platform

Oligopoly

100%

Philip Morris International Inc. segments

Full profile >

Combustible Tobacco

Oligopoly

61.3%

Smoke-Free Products

Oligopoly

37.8%

Wellness & Healthcare

Competitive

0.9%

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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.