VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Netflix, Inc. vs Philip Morris International Inc.

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

Netflix, Inc.

NFLX · NASDAQ

Market cap (USD)$387.5B
Gross margin (TTM)48.1%
Operating margin (TTM)29.1%
Net margin (TTM)24.1%
SectorCommunication Services
IndustryEntertainment
CountryUS
Data as of2026-01-05
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 Netflix, Inc.'s moat claims, evidence, and risks.

View NFLX analysis

Philip Morris International Inc.

PM · New York Stock Exchange

Market cap (USD)$248.8B
Gross margin (TTM)66.3%
Operating margin (TTM)37.7%
Net margin (TTM)21.6%
SectorConsumer
IndustryTobacco
CountryUS
Data as of2025-12-31
Moat score
84/ 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 Philip Morris International Inc.'s moat claims, evidence, and risks.

View PM analysis

Comparison highlights

  • Moat score gap: Philip Morris International Inc. leads (84 / 100 vs 65 / 100 for Netflix, Inc.).
  • Segment focus: Netflix, Inc. has 1 segment (100% in Streaming entertainment platform); Philip Morris International Inc. has 3 segments (61.3% in Combustible Tobacco).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Netflix, Inc. has 5 moat types across 4 domains; Philip Morris International Inc. has 6 across 3.

Primary market context

Netflix, Inc.

Streaming entertainment platform

Market

Paid streaming video entertainment (SVOD/AVOD)

Geography

Global

Customer

Consumers (B2C); advertisers via ad-supported inventory

Role

Streaming platform operator; content producer/licensor

Revenue share

100%

Philip Morris International Inc.

Combustible Tobacco

Market

International combustible tobacco (primarily cigarettes)

Geography

Global (primarily ex-U.S.)

Customer

Adult smokers; distributors/wholesalers and retail channels

Role

Branded manufacturer and distributor

Revenue share

61.3%

Side-by-side metrics

Netflix, Inc.
Philip Morris International Inc.
Ticker / Exchange
NFLX - NASDAQ
PM - New York Stock Exchange
Market cap (USD)
$387.5B
$248.8B
Gross margin (TTM)
48.1%
66.3%
Operating margin (TTM)
29.1%
37.7%
Net margin (TTM)
24.1%
21.6%
Sector
Communication Services
Consumer
Industry
Entertainment
Tobacco
HQ country
US
US
Primary segment
Streaming entertainment platform
Combustible Tobacco
Market structure
Oligopoly
Oligopoly
Market share
8.2%-8.4% (reported)
25.3% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
65 / 100
84 / 100
Moat domains
Network, Supply, Legal, Financial
Demand, Supply, Legal
Last update
2026-01-05
2025-12-31

Moat coverage

Shared moat types

No overlap yet.

Netflix, Inc. strengths

Data Network EffectsScale Economies Unit CostContent Rights CurrencyPhysical Network DensityFloat Prepayment

Philip Morris International Inc. strengths

Brand TrustDistribution ControlCompliance AdvantageInstalled Base ConsumablesIP Choke PointRegulated Standards Pipe

Segment mix

Netflix, Inc. segments

Full profile >

Streaming entertainment platform

Oligopoly

100%

Philip Morris International Inc. segments

Full profile >

Combustible Tobacco

Oligopoly

61.3%

Smoke-Free Products

Oligopoly

37.8%

Wellness & Healthcare

Competitive

0.9%

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.