VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Morningstar, Inc. vs Constellation Brands, Inc.

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

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

Constellation Brands, Inc.

STZ · New York Stock Exchange

Market cap (USD)$25.7B
Gross margin (TTM)52%
Operating margin (TTM)34.5%
Net margin (TTM)11.8%
SectorConsumer
IndustryBeverages - Wineries & Distilleries
CountryUS
Data as of2025-12-23
Moat score
76/ 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 Constellation Brands, Inc.'s moat claims, evidence, and risks.

View STZ analysis

Comparison highlights

  • Moat score gap: Constellation Brands, Inc. leads (76 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics); Constellation Brands, Inc. has 2 segments (83.7% in Beer).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Morningstar, Inc. has 6 moat types across 3 domains; Constellation Brands, Inc. has 4 across 3.

Primary market context

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Constellation Brands, Inc.

Beer

Market

U.S. high-end beer (imported beer + above-premium American beer)

Geography

United States

Customer

Beer wholesalers/distributors; retailers; on-premise

Role

Importer/producer; marketer; supplier to distributors

Revenue share

83.7%

Side-by-side metrics

Morningstar, Inc.
Constellation Brands, Inc.
Ticker / Exchange
MORN - NASDAQ
STZ - New York Stock Exchange
Market cap (USD)
n/a
$25.7B
Gross margin (TTM)
n/a
52%
Operating margin (TTM)
n/a
34.5%
Net margin (TTM)
n/a
11.8%
Sector
Financials
Consumer
Industry
n/a
Beverages - Wineries & Distilleries
HQ country
US
US
Primary segment
Morningstar Data and Analytics
Beer
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
67 / 100
76 / 100
Moat domains
Demand, Network, Legal
Legal, Demand, Supply
Last update
2026-01-10
2025-12-23

Moat coverage

Shared moat types

No overlap yet.

Morningstar, Inc. strengths

Data Workflow LockinDe Facto StandardRegulated Standards PipeSuite BundlingTraining Org Change CostsIP Choke Point

Constellation Brands, Inc. strengths

Contractual ExclusivityBrand TrustDistribution ControlCapacity Moat

Segment mix

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%

Constellation Brands, Inc. segments

Full profile >

Beer

Oligopoly

83.7%

Wine and Spirits

Competitive

16.4%

Want the full wide moat stocks list?

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

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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.