VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

PepsiCo, Inc. vs Xero Limited

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

PepsiCo, Inc.

PEP · Nasdaq Global Select Market

Market cap (USD)$195.5B
Gross margin (TTM)54.2%
Operating margin (TTM)14.3%
Net margin (TTM)7.8%
SectorConsumer
IndustryBeverages - Non-Alcoholic
CountryUS
Data as of2025-12-23
Moat score
72/ 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 PepsiCo, Inc.'s moat claims, evidence, and risks.

View PEP analysis

Xero Limited

XRO · Australian Securities Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryNZ
Data as of2026-01-02
Moat score
71/ 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 Xero Limited's moat claims, evidence, and risks.

View XRO analysis

Comparison highlights

  • Moat score gap: PepsiCo, Inc. leads (72 / 100 vs 71 / 100 for Xero Limited).
  • Segment focus: PepsiCo, Inc. has 7 segments (27% in Frito-Lay North America (FLNA)); Xero Limited has 2 segments.
  • Moat breadth: PepsiCo, Inc. has 4 moat types across 2 domains; Xero Limited has 7 across 3.

Primary market context

PepsiCo, Inc.

Frito-Lay North America (FLNA)

Market

Branded convenient foods (salty snacks, dips and adjacent categories)

Geography

United States and Canada

Customer

Retailers, convenience stores, foodservice

Role

Branded manufacturer + distributor (DSD/warehouse/distributor networks)

Revenue share

27%

Xero Limited

Core Accounting Subscription Platform

Market

Cloud accounting software for small businesses and their advisors

Geography

Global

Customer

SMB; accountants & bookkeepers

Role

Software platform (SaaS)

Side-by-side metrics

PepsiCo, Inc.
Xero Limited
Ticker / Exchange
PEP - Nasdaq Global Select Market
XRO - Australian Securities Exchange
Market cap (USD)
$195.5B
n/a
Gross margin (TTM)
54.2%
n/a
Operating margin (TTM)
14.3%
n/a
Net margin (TTM)
7.8%
n/a
Sector
Consumer
Technology
Industry
Beverages - Non-Alcoholic
n/a
HQ country
US
NZ
Primary segment
Frito-Lay North America (FLNA)
Core Accounting Subscription Platform
Market structure
Oligopoly
Oligopoly
Market share
54%-58% (implied)
n/a
HHI estimate
3,530
n/a
Pricing power
Moderate
Moderate
Moat score
72 / 100
71 / 100
Moat domains
Supply, Demand
Demand, Network, Financial
Last update
2025-12-23
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

PepsiCo, Inc. strengths

Distribution ControlBrand TrustScale Economies Unit CostScope Economies

Xero Limited strengths

Data Workflow LockinSwitching Costs GeneralTwo Sided NetworkBenchmark Pricing PowerInteroperability HubEcosystem ComplementsSuite Bundling

Segment mix

PepsiCo, Inc. segments

Full profile >

Frito-Lay North America (FLNA)

Oligopoly

27%

Quaker Foods North America (QFNA)

Competitive

4.2%

PepsiCo Beverages North America (PBNA)

Oligopoly

19.9%

Latin America (LatAm)

Oligopoly

12.3%

Europe

Oligopoly

22.4%

Africa, Middle East and South Asia (AMESA)

Competitive

8.8%

Asia Pacific, Australia & New Zealand and China Region (APAC)

Competitive

5.5%

Xero Limited segments

Full profile >

Core Accounting Subscription Platform

Oligopoly

n/a

Platform Services (Payments, Payroll, App Ecosystem)

Competitive

n/a

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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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.