VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Moncler S.p.A. vs Spotify Technology S.A.

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

Moncler S.p.A.

MONC · Euronext Milan

Market cap (USD)$14.8B
Gross margin (TTM)76.4%
Operating margin (TTM)29.4%
Net margin (TTM)20.4%
SectorConsumer
IndustryApparel - Manufacturers
CountryIT
Data as of2026-01-05
Moat score
69/ 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 Moncler S.p.A.'s moat claims, evidence, and risks.

View MONC 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: Moncler S.p.A. leads (69 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Moncler S.p.A. has 2 segments (87.1% in Moncler brand); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Moncler S.p.A. has 3 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Moncler S.p.A.

Moncler brand

Market

Luxury outerwear and apparel (down jackets, ready-to-wear, accessories)

Geography

Global

Customer

Consumers

Role

Branded apparel company (design/marketing; DTC + wholesale distribution)

Revenue share

87.1%

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

Moncler S.p.A.
Spotify Technology S.A.
Ticker / Exchange
MONC - Euronext Milan
SPOT - New York Stock Exchange
Market cap (USD)
$14.8B
$121.5B
Gross margin (TTM)
76.4%
31.8%
Operating margin (TTM)
29.4%
11.7%
Net margin (TTM)
20.4%
8.3%
Sector
Consumer
Communication Services
Industry
Apparel - Manufacturers
Internet Content & Information
HQ country
IT
LU
Primary segment
Moncler brand
Premium (subscription)
Market structure
Competitive
Oligopoly
Market share
n/a
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
69 / 100
65 / 100
Moat domains
Demand, Supply, Legal
Network, Demand, Legal, Supply
Last update
2026-01-05
2026-01-06

Moat coverage

Shared moat types

Brand Trust

Moncler S.p.A. strengths

Distribution ControlIP Choke Point

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights CurrencyScale Economies Unit Cost

Segment mix

Moncler S.p.A. segments

Full profile >

Moncler brand

Competitive

87.1%

Stone Island brand

Competitive

12.9%

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.