VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Altria Group, Inc. vs Morningstar, Inc.

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

Altria Group, Inc.

MO · New York Stock Exchange

Market cap (USD)$96.6B
Gross margin (TTM)72%
Operating margin (TTM)55.2%
Net margin (TTM)44%
SectorConsumer
IndustryTobacco
CountryUS
Data as of2025-12-30
Moat score
88/ 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 Altria Group, Inc.'s moat claims, evidence, and risks.

View MO analysis

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryUS
Data as of2026-01-10
Moat score
67/ 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 Morningstar, Inc.'s moat claims, evidence, and risks.

View MORN analysis

Comparison highlights

  • Moat score gap: Altria Group, Inc. leads (88 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: Altria Group, Inc. has 3 segments (88.3% in Smokeable Products); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Altria Group, Inc. has 5 moat types across 3 domains; Morningstar, Inc. has 6 across 3.

Primary market context

Altria Group, Inc.

Smokeable Products

Market

U.S. cigarettes and machine-made cigars

Geography

United States

Customer

Wholesalers/distributors and large retail organizations (serving adult tobacco consumers 21+)

Role

Manufacturer and brand owner

Revenue share

88.3%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Altria Group, Inc.
Morningstar, Inc.
Ticker / Exchange
MO - New York Stock Exchange
MORN - NASDAQ
Market cap (USD)
$96.6B
n/a
Gross margin (TTM)
72%
n/a
Operating margin (TTM)
55.2%
n/a
Net margin (TTM)
44%
n/a
Sector
Consumer
Financials
Industry
Tobacco
n/a
HQ country
US
US
Primary segment
Smokeable Products
Morningstar Data and Analytics
Market structure
Oligopoly
Oligopoly
Market share
45.9% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
88 / 100
67 / 100
Moat domains
Demand, Financial, Legal
Demand, Network, Legal
Last update
2025-12-30
2026-01-10

Moat coverage

Shared moat types

Regulated Standards Pipe

Altria Group, Inc. strengths

Brand TrustHabit DefaultBenchmark Pricing PowerCompliance Advantage

Morningstar, Inc. strengths

Data Workflow LockinDe Facto StandardSuite BundlingTraining Org Change CostsIP Choke Point

Segment mix

Altria Group, Inc. segments

Full profile >

Smokeable Products

Oligopoly

88.3%

Oral Tobacco Products

Oligopoly

11.6%

E-Vapor and New Products (NJOY, Horizon, R&D)

Competitive

0.2%

Morningstar, Inc. segments

Full profile >

Morningstar Data and Analytics

Oligopoly

34.6%

PitchBook

Oligopoly

27.2%

Morningstar Credit

Oligopoly

12.8%

Morningstar Wealth

Competitive

10.9%

Morningstar Retirement

Competitive

5.6%

Morningstar Sustainalytics

Oligopoly

5.2%

Morningstar Indexes

Oligopoly

3.7%

Want the full wide moat stocks list?

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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.