VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Philip Morris International Inc. vs Texas Roadhouse, Inc.

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

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

Texas Roadhouse, Inc.

TXRH · NASDAQ Global Select Market

Market cap (USD)$11.6B
Gross margin (TTM)16.7%
Operating margin (TTM)8.9%
Net margin (TTM)7.5%
SectorConsumer
IndustryRestaurants
CountryUS
Data as of2026-01-06
Moat score
66/ 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 Texas Roadhouse, Inc.'s moat claims, evidence, and risks.

View TXRH analysis

Comparison highlights

  • Moat score gap: Philip Morris International Inc. leads (84 / 100 vs 66 / 100 for Texas Roadhouse, Inc.).
  • Segment focus: Philip Morris International Inc. has 3 segments (61.3% in Combustible Tobacco); Texas Roadhouse, Inc. has 3 segments (93.8% in Texas Roadhouse).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: Philip Morris International Inc. has 6 moat types across 3 domains; Texas Roadhouse, Inc. has 4 across 3.

Primary market context

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%

Texas Roadhouse, Inc.

Texas Roadhouse

Market

Casual dining steakhouse restaurants

Geography

United States (plus international via franchise)

Customer

Consumers

Role

Restaurant operator & franchisor

Revenue share

93.8%

Side-by-side metrics

Philip Morris International Inc.
Texas Roadhouse, Inc.
Ticker / Exchange
PM - New York Stock Exchange
TXRH - NASDAQ Global Select Market
Market cap (USD)
$248.8B
$11.6B
Gross margin (TTM)
66.3%
16.7%
Operating margin (TTM)
37.7%
8.9%
Net margin (TTM)
21.6%
7.5%
Sector
Consumer
Consumer
Industry
Tobacco
Restaurants
HQ country
US
US
Primary segment
Combustible Tobacco
Texas Roadhouse
Market structure
Oligopoly
Competitive
Market share
25.3% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
84 / 100
66 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply, Legal
Last update
2025-12-31
2026-01-06

Moat coverage

Shared moat types

Brand TrustIP Choke Point

Philip Morris International Inc. strengths

Distribution ControlCompliance AdvantageInstalled Base ConsumablesRegulated Standards Pipe

Texas Roadhouse, Inc. strengths

Operational ExcellenceHabit Default

Segment mix

Philip Morris International Inc. segments

Full profile >

Combustible Tobacco

Oligopoly

61.3%

Smoke-Free Products

Oligopoly

37.8%

Wellness & Healthcare

Competitive

0.9%

Texas Roadhouse, Inc. segments

Full profile >

Texas Roadhouse

Competitive

93.8%

Bubba's 33

Competitive

5.6%

Other (Jaggers + retail initiatives)

Competitive

0.6%

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.