VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Wednesday, January 7, 2026

Stock Comparison

LVMH Moet Hennessy Louis Vuitton SE vs Spotify Technology S.A.

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

LVMH Moet Hennessy Louis Vuitton SE

MC · Euronext Paris

Market cap (USD)$315.5B
Gross margin (TTM)67.3%
Operating margin (TTM)23.2%
Net margin (TTM)14.8%
SectorConsumer
IndustryLuxury Goods
CountryFR
Data as of2025-12-30
Moat score
80/ 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 LVMH Moet Hennessy Louis Vuitton SE's moat claims, evidence, and risks.

View MC 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: LVMH Moet Hennessy Louis Vuitton SE leads (80 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: LVMH Moet Hennessy Louis Vuitton SE has 5 segments (48.5% in Fashion and Leather Goods); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: LVMH Moet Hennessy Louis Vuitton SE has 9 moat types across 4 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

LVMH Moet Hennessy Louis Vuitton SE

Fashion and Leather Goods

Market

Luxury fashion and leather goods

Geography

Global

Customer

Consumers via directly operated retail; selective wholesale

Role

Brand owner / design house / manufacturer / retailer

Revenue share

48.5%

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

LVMH Moet Hennessy Louis Vuitton SE
Spotify Technology S.A.
Ticker / Exchange
MC - Euronext Paris
SPOT - New York Stock Exchange
Market cap (USD)
$315.5B
$121.5B
Gross margin (TTM)
67.3%
31.8%
Operating margin (TTM)
23.2%
11.7%
Net margin (TTM)
14.8%
8.3%
Sector
Consumer
Communication Services
Industry
Luxury Goods
Internet Content & Information
HQ country
FR
LU
Primary segment
Fashion and Leather Goods
Premium (subscription)
Market structure
Oligopoly
Oligopoly
Market share
n/a
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
80 / 100
65 / 100
Moat domains
Supply, Demand, Network, Legal
Network, Demand, Legal, Supply
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Brand TrustTwo Sided Network

LVMH Moet Hennessy Louis Vuitton SE strengths

Distribution ControlCapex Knowhow ScaleGeographic NaturalKeystone ComponentService Field NetworkPhysical Network DensityConcession License

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubContent Rights CurrencyScale Economies Unit Cost

Segment mix

LVMH Moet Hennessy Louis Vuitton SE segments

Full profile >

Fashion and Leather Goods

Oligopoly

48.5%

Wines and Spirits

Oligopoly

6.9%

Perfumes and Cosmetics

Oligopoly

9.9%

Watches and Jewelry

Oligopoly

12.5%

Selective Retailing

Oligopoly

21.6%

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.