VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Mondelez International, Inc. vs Spotify Technology S.A.

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

Mondelez International, Inc.

MDLZ · Nasdaq Global Select Market

Market cap (USD)$69.4B
Gross margin (TTM)31.1%
Operating margin (TTM)11.2%
Net margin (TTM)9.4%
SectorConsumer
IndustryFood Confectioners
CountryUS
Data as of2025-12-23
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 Mondelez International, Inc.'s moat claims, evidence, and risks.

View MDLZ 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: Mondelez International, Inc. leads (66 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Mondelez International, Inc. has 5 segments (48.9% in Biscuits & Baked Snacks); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Moat breadth: Mondelez International, Inc. has 4 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Mondelez International, Inc.

Biscuits & Baked Snacks

Market

Branded biscuits, cookies, crackers and baked snacks

Geography

Global

Customer

Consumer (via retail and e-commerce)

Role

Branded manufacturer

Revenue share

48.9%

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

Mondelez International, Inc.
Spotify Technology S.A.
Ticker / Exchange
MDLZ - Nasdaq Global Select Market
SPOT - New York Stock Exchange
Market cap (USD)
$69.4B
$121.5B
Gross margin (TTM)
31.1%
31.8%
Operating margin (TTM)
11.2%
11.7%
Net margin (TTM)
9.4%
8.3%
Sector
Consumer
Communication Services
Industry
Food Confectioners
Internet Content & Information
HQ country
US
LU
Primary segment
Biscuits & Baked Snacks
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
2025-12-23
2026-01-06

Moat coverage

Shared moat types

Brand Trust

Mondelez International, Inc. strengths

Distribution ControlIP Choke PointSupply Chain Control

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights CurrencyScale Economies Unit Cost

Segment mix

Mondelez International, Inc. segments

Full profile >

Biscuits & Baked Snacks

Oligopoly

48.9%

Chocolate

Oligopoly

30.9%

Gum & Candy

Oligopoly

11.1%

Beverages

Competitive

3%

Cheese & Grocery

Competitive

6.2%

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?

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

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.