VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Prosus N.V. vs Spotify Technology S.A.

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

Prosus N.V.

PRX · Euronext Amsterdam

Market cap (USD)$122.1B
Gross margin (TTM)42.1%
Operating margin (TTM)1.8%
Net margin (TTM)167.8%
SectorTechnology
IndustryInternet Content & Information
CountryNL
Data as of2025-12-28
Moat score
49/ 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 Prosus N.V.'s moat claims, evidence, and risks.

View PRX 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: Spotify Technology S.A. leads (65 / 100 vs 49 / 100 for Prosus N.V.).
  • Segment focus: Prosus N.V. has 5 segments (40.3% in Etail (eMAG marketplace + fulfillment)); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Prosus N.V. has 7 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Prosus N.V.

Etail (eMAG marketplace + fulfillment)

Market

Online retail marketplace and fulfillment in Central & Eastern Europe

Geography

Romania, Hungary and other CEE markets

Customer

Consumers; marketplace sellers; brands

Role

Marketplace + first-party retail + logistics

Revenue share

40.3%

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

Prosus N.V.
Spotify Technology S.A.
Ticker / Exchange
PRX - Euronext Amsterdam
SPOT - New York Stock Exchange
Market cap (USD)
$122.1B
$121.5B
Gross margin (TTM)
42.1%
31.8%
Operating margin (TTM)
1.8%
11.7%
Net margin (TTM)
167.8%
8.3%
Sector
Technology
Communication Services
Industry
Internet Content & Information
Internet Content & Information
HQ country
NL
LU
Primary segment
Etail (eMAG marketplace + fulfillment)
Premium (subscription)
Market structure
Competitive
Oligopoly
Market share
n/a
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
49 / 100
65 / 100
Moat domains
Network, Supply, Demand
Network, Demand, Legal, Supply
Last update
2025-12-28
2026-01-06

Moat coverage

Shared moat types

Two Sided NetworkBrand TrustScale Economies Unit Cost

Prosus N.V. strengths

Physical Network DensityHabit DefaultDesign In QualificationScope Economies

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubContent Rights Currency

Segment mix

Prosus N.V. segments

Full profile >

Food Delivery (iFood ecosystem + delivery investments)

Oligopoly

21%

Classifieds (OLX Group)

Oligopoly

12.7%

Payments & Fintech (PayU, Iyzico)

Competitive

21%

Etail (eMAG marketplace + fulfillment)

Competitive

40.3%

Ecosystem & Other ecommerce (cross-portfolio synergies, ventures)

Competitive

5%

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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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.