VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Roper Technologies, Inc. vs Spotify Technology S.A.

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

Roper Technologies, Inc.

ROP · The Nasdaq Stock Market LLC

Market cap (USD)$46.5B
Gross margin (TTM)69%
Operating margin (TTM)28.1%
Net margin (TTM)20.3%
SectorTechnology
IndustryIndustrial - Machinery
CountryUS
Data as of2025-12-30
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 Roper Technologies, Inc.'s moat claims, evidence, and risks.

View ROP 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: Roper Technologies, Inc. leads (67 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Roper Technologies, Inc. has 3 segments (55% in Application Software); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Roper Technologies, Inc. has 7 moat types across 4 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Roper Technologies, Inc.

Application Software

Market

Vertical application software for niche end markets

Geography

Global

Customer

Businesses, institutions, and public-sector organizations

Role

Software vendor (SaaS, subscriptions, and related services)

Revenue share

55%

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

Roper Technologies, Inc.
Spotify Technology S.A.
Ticker / Exchange
ROP - The Nasdaq Stock Market LLC
SPOT - New York Stock Exchange
Market cap (USD)
$46.5B
$121.5B
Gross margin (TTM)
69%
31.8%
Operating margin (TTM)
28.1%
11.7%
Net margin (TTM)
20.3%
8.3%
Sector
Technology
Communication Services
Industry
Industrial - Machinery
Internet Content & Information
HQ country
US
LU
Primary segment
Application Software
Premium (subscription)
Market structure
Oligopoly
Oligopoly
Market share
n/a
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
67 / 100
65 / 100
Moat domains
Demand, Legal, Financial, Network
Network, Demand, Legal, Supply
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Two Sided NetworkData Network Effects

Roper Technologies, Inc. strengths

Data Workflow LockinCompliance AdvantageNegative Working CapitalDesign In QualificationSwitching Costs General

Spotify Technology S.A. strengths

Interoperability HubBrand TrustContent Rights CurrencyScale Economies Unit Cost

Segment mix

Roper Technologies, Inc. segments

Full profile >

Application Software

Oligopoly

55%

Network Software

Oligopoly

21%

Technology Enabled Products

Competitive

24.1%

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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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.