VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

The Sherwin-Williams Company vs Spotify Technology S.A.

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

The Sherwin-Williams Company

SHW · New York Stock Exchange

Market cap (USD)$82.5B
Gross margin (TTM)48.9%
Operating margin (TTM)15.9%
Net margin (TTM)11.1%
SectorMaterials
IndustryChemicals - Specialty
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 The Sherwin-Williams Company's moat claims, evidence, and risks.

View SHW 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: The Sherwin-Williams Company leads (84 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: The Sherwin-Williams Company has 3 segments (57.1% in Paint Stores Group); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: The Sherwin-Williams Company has 6 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

The Sherwin-Williams Company

Paint Stores Group

Market

Company-operated paint & coatings retail (architectural + related products)

Geography

United States, Canada, Caribbean

Customer

Professional contractors and DIY homeowners

Role

Manufacturer-owned retail / distribution

Revenue share

57.1%

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

The Sherwin-Williams Company
Spotify Technology S.A.
Ticker / Exchange
SHW - New York Stock Exchange
SPOT - New York Stock Exchange
Market cap (USD)
$82.5B
$121.5B
Gross margin (TTM)
48.9%
31.8%
Operating margin (TTM)
15.9%
11.7%
Net margin (TTM)
11.1%
8.3%
Sector
Materials
Communication Services
Industry
Chemicals - Specialty
Internet Content & Information
HQ country
US
LU
Primary segment
Paint Stores Group
Premium (subscription)
Market structure
Quasi-Monopoly
Oligopoly
Market share
69.4% (estimated)
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
84 / 100
65 / 100
Moat domains
Supply, Demand, Legal
Network, Demand, Legal, Supply
Last update
2025-12-31
2026-01-06

Moat coverage

Shared moat types

Brand Trust

The Sherwin-Williams Company strengths

Distribution ControlService Field NetworkScope EconomiesSwitching Costs GeneralCompliance Advantage

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights CurrencyScale Economies Unit Cost

Segment mix

The Sherwin-Williams Company segments

Full profile >

Paint Stores Group

Quasi-Monopoly

57.1%

Consumer Brands Group

Oligopoly

13.5%

Performance Coatings Group

Oligopoly

29.4%

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?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.