VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Starbucks Corporation vs Spotify Technology S.A.

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

Starbucks Corporation

SBUX · Nasdaq Global Select Market

Market cap (USD)$98.4B
Gross margin (TTM)22.9%
Operating margin (TTM)9.7%
Net margin (TTM)5%
SectorConsumer
IndustryRestaurants
CountryUS
Data as of2025-12-31
Moat score
70/ 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 Starbucks Corporation's moat claims, evidence, and risks.

View SBUX 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: Starbucks Corporation leads (70 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Starbucks Corporation has 3 segments (73.6% in North America); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Starbucks Corporation has 7 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Starbucks Corporation

North America

Market

Branded coffeehouse retail (company-operated + licensed)

Geography

U.S. and Canada

Customer

Consumers

Role

Retailer / brand owner

Revenue share

73.6%

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

Starbucks Corporation
Spotify Technology S.A.
Ticker / Exchange
SBUX - Nasdaq Global Select Market
SPOT - New York Stock Exchange
Market cap (USD)
$98.4B
$121.5B
Gross margin (TTM)
22.9%
31.8%
Operating margin (TTM)
9.7%
11.7%
Net margin (TTM)
5%
8.3%
Sector
Consumer
Communication Services
Industry
Restaurants
Internet Content & Information
HQ country
US
LU
Primary segment
North America
Premium (subscription)
Market structure
Competitive
Oligopoly
Market share
35%-40% (implied)
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
70 / 100
65 / 100
Moat domains
Demand, Supply, Legal
Network, Demand, Legal, Supply
Last update
2025-12-31
2026-01-06

Moat coverage

Shared moat types

Brand Trust

Starbucks Corporation strengths

Habit DefaultPhysical Network DensityOperational ExcellencePreferential Input AccessContractual ExclusivityScope Economies

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights CurrencyScale Economies Unit Cost

Segment mix

Starbucks Corporation segments

Full profile >

North America

Competitive

73.6%

International

Competitive

21%

Channel Development

Oligopoly

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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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.