VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

Stock Comparison

Altria Group, Inc. vs Novartis AG

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)$96.7B
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

Novartis AG

NOVN · SIX Swiss Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryCH
Data as of2026-01-02
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 Novartis AG's moat claims, evidence, and risks.

View NOVN analysis

Comparison highlights

  • Moat score gap: Altria Group, Inc. leads (88 / 100 vs 65 / 100 for Novartis AG).
  • Segment focus: Altria Group, Inc. has 3 segments (88.3% in Smokeable Products); Novartis AG has 5 segments (29.3% in Oncology).
  • Moat breadth: Altria Group, Inc. has 5 moat types across 3 domains; Novartis AG has 4 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%

Novartis AG

Oncology

Market

Oncology and hematology branded medicines (including targeted therapies and radioligand therapy)

Geography

Global

Customer

Oncologists and hospitals; reimbursed by payers; hospital and specialty pharmacy channels

Role

Originator developer, manufacturer, and marketer of oncology therapies

Revenue share

29.3%

Side-by-side metrics

Altria Group, Inc.
Novartis AG
Ticker / Exchange
MO - New York Stock Exchange
NOVN - SIX Swiss Exchange
Market cap (USD)
$96.7B
n/a
Gross margin (TTM)
72%
n/a
Operating margin (TTM)
55.2%
n/a
Net margin (TTM)
44%
n/a
Sector
Consumer
Healthcare
Industry
Tobacco
n/a
HQ country
US
CH
Primary segment
Smokeable Products
Oncology
Market structure
Oligopoly
Oligopoly
Market share
45.9% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
88 / 100
65 / 100
Moat domains
Demand, Financial, Legal
Legal, Supply, Demand
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

Brand TrustRegulated Standards Pipe

Altria Group, Inc. strengths

Habit DefaultBenchmark Pricing PowerCompliance Advantage

Novartis AG strengths

IP Choke PointCapex Knowhow Scale

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%

Novartis AG segments

Full profile >

Cardiovascular, Renal and Metabolic

Oligopoly

17%

Immunology

Oligopoly

18.5%

Neuroscience

Oligopoly

9.4%

Oncology

Oligopoly

29.3%

Established Brands

Competitive

25.8%

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.