VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Spotify Technology S.A. vs Stevanato Group S.p.A.

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

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

Stevanato Group S.p.A.

STVN · New York Stock Exchange

Market cap (USD)$5.7B
Gross margin (TTM)28.6%
Operating margin (TTM)16.7%
Net margin (TTM)12%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryIT
Data as of2026-01-05
Moat score
59/ 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 Stevanato Group S.p.A.'s moat claims, evidence, and risks.

View STVN analysis

Comparison highlights

  • Moat score gap: Spotify Technology S.A. leads (65 / 100 vs 59 / 100 for Stevanato Group S.p.A.).
  • Segment focus: Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)); Stevanato Group S.p.A. has 3 segments (46.3% in Other Containment and Delivery Solutions).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Spotify Technology S.A. has 6 moat types across 4 domains; Stevanato Group S.p.A. has 8 across 3.

Primary market context

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%

Stevanato Group S.p.A.

Other Containment and Delivery Solutions

Market

Standard primary packaging and related services for injectable drugs and diagnostics

Geography

Global

Customer

Pharmaceutical, biotechnology, diagnostics and life sciences companies; fill-finish CMOs

Role

Primary packaging/component manufacturer and contract manufacturing partner

Revenue share

46.3%

Side-by-side metrics

Spotify Technology S.A.
Stevanato Group S.p.A.
Ticker / Exchange
SPOT - New York Stock Exchange
STVN - New York Stock Exchange
Market cap (USD)
$121.5B
$5.7B
Gross margin (TTM)
31.8%
28.6%
Operating margin (TTM)
11.7%
16.7%
Net margin (TTM)
8.3%
12%
Sector
Communication Services
Healthcare
Industry
Internet Content & Information
Medical - Instruments & Supplies
HQ country
LU
IT
Primary segment
Premium (subscription)
Other Containment and Delivery Solutions
Market structure
Oligopoly
Competitive
Market share
31%-33% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
65 / 100
59 / 100
Moat domains
Network, Demand, Legal, Supply
Demand, Supply, Network
Last update
2026-01-06
2026-01-05

Moat coverage

Shared moat types

Brand Trust

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights CurrencyScale Economies Unit Cost

Stevanato Group S.p.A. strengths

Design In QualificationCapex Knowhow ScaleDe Facto StandardLong Term ContractsOperational ExcellenceService Field NetworkScope Economies

Segment mix

Spotify Technology S.A. segments

Full profile >

Premium (subscription)

Oligopoly

88.2%

Ad-Supported (advertising)

Competitive

11.8%

Stevanato Group S.p.A. segments

Full profile >

High-Value Solutions

Oligopoly

38.3%

Other Containment and Delivery Solutions

Competitive

46.3%

Engineering

Competitive

15.4%

Want the full wide moat stocks list?

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

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Looking for expansion-stage stocks?

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.