VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Thursday, January 8, 2026

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Stock Comparison

Live Nation Entertainment, Inc. vs Spirax Group plc

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

Live Nation Entertainment, Inc.

LYV · New York Stock Exchange

Market cap (USD)$33.7B
Gross margin (TTM)46.2%
Operating margin (TTM)4.7%
Net margin (TTM)3.7%
SectorCommunication Services
IndustryEntertainment
CountryUS
Data as of2026-01-04
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 Live Nation Entertainment, Inc.'s moat claims, evidence, and risks.

View LYV analysis

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$5B
Gross margin (TTM)19.6%
Operating margin (TTM)17.2%
Net margin (TTM)10.7%
SectorIndustrials
IndustryIndustrial - Machinery
CountryGB
Data as of2025-12-28
Moat score
71/ 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 Spirax Group plc's moat claims, evidence, and risks.

View SPX analysis

Comparison highlights

  • Moat score gap: Live Nation Entertainment, Inc. leads (84 / 100 vs 71 / 100 for Spirax Group plc).
  • Segment focus: Live Nation Entertainment, Inc. has 3 segments (82.2% in Concerts); Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions).
  • Moat breadth: Live Nation Entertainment, Inc. has 6 moat types across 3 domains; Spirax Group plc has 6 across 2.

Primary market context

Live Nation Entertainment, Inc.

Concerts

Market

Live music concert promotion, festival production, and music venue operations

Geography

Global

Customer

Artists/agents (supply) and fans (end-users); venues and festivals; corporate partners

Role

Promoter + venue operator

Revenue share

82.2%

Spirax Group plc

Steam Thermal Solutions

Market

Industrial and commercial steam systems (condensate management, controls, thermal energy management products and solutions)

Geography

Global

Customer

Industrial process operators and commercial facility operators

Role

OEM / solutions provider

Revenue share

52.1%

Side-by-side metrics

Live Nation Entertainment, Inc.
Spirax Group plc
Ticker / Exchange
LYV - New York Stock Exchange
SPX - London Stock Exchange
Market cap (USD)
$33.7B
$5B
Gross margin (TTM)
46.2%
19.6%
Operating margin (TTM)
4.7%
17.2%
Net margin (TTM)
3.7%
10.7%
Sector
Communication Services
Industrials
Industry
Entertainment
Industrial - Machinery
HQ country
US
GB
Primary segment
Concerts
Steam Thermal Solutions
Market structure
Oligopoly
Oligopoly
Market share
55%-65% (reported)
n/a
HHI estimate
3,600
n/a
Pricing power
Moderate
Moderate
Moat score
84 / 100
71 / 100
Moat domains
Supply, Demand, Network
Supply, Demand
Last update
2026-01-04
2025-12-28

Moat coverage

Shared moat types

Service Field Network

Live Nation Entertainment, Inc. strengths

Physical Network DensityLong Term ContractsTwo Sided NetworkData Workflow LockinScope Economies

Spirax Group plc strengths

Installed Base ConsumablesBrand TrustCapex Knowhow ScaleDesign In QualificationSuite Bundling

Segment mix

Live Nation Entertainment, Inc. segments

Full profile >

Concerts

Oligopoly

82.2%

Ticketing

Quasi-Monopoly

12.9%

Sponsorship & Advertising

Competitive

5.2%

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

52.1%

Electric Thermal Solutions

Competitive

24.3%

Watson-Marlow Fluid Technology Solutions

Oligopoly

23.6%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.