VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Spotify Technology S.A. vs Symrise AG

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

Symrise AG

SY1 · Xetra

Market cap (USD)$9.5B
Gross margin (TTM)40.3%
Operating margin (TTM)0.7%
Net margin (TTM)10.2%
SectorMaterials
IndustryChemicals - Specialty
CountryDE
Data as of2025-12-29
Moat score
69/ 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 Symrise AG's moat claims, evidence, and risks.

View SY1 analysis

Comparison highlights

  • Moat score gap: Symrise AG leads (69 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)); Symrise AG has 2 segments (61.8% in Taste, Nutrition & Health).
  • Moat breadth: Spotify Technology S.A. has 6 moat types across 4 domains; Symrise AG has 5 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%

Symrise AG

Taste, Nutrition & Health

Market

Food & beverage flavor ingredients and pet food ingredients

Geography

Global

Customer

B2B (food & beverage, pet food, aquafeed manufacturers)

Role

Ingredient/formulation supplier

Revenue share

61.8%

Side-by-side metrics

Spotify Technology S.A.
Symrise AG
Ticker / Exchange
SPOT - New York Stock Exchange
SY1 - Xetra
Market cap (USD)
$121.5B
$9.5B
Gross margin (TTM)
31.8%
40.3%
Operating margin (TTM)
11.7%
0.7%
Net margin (TTM)
8.3%
10.2%
Sector
Communication Services
Materials
Industry
Internet Content & Information
Chemicals - Specialty
HQ country
LU
DE
Primary segment
Premium (subscription)
Taste, Nutrition & Health
Market structure
Oligopoly
Oligopoly
Market share
31%-33% (reported)
12%-16% (implied)
HHI estimate
n/a
958
Pricing power
Moderate
Moderate
Moat score
65 / 100
69 / 100
Moat domains
Network, Demand, Legal, Supply
Demand, Supply, Legal
Last update
2026-01-06
2025-12-29

Moat coverage

Shared moat types

No overlap yet.

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkBrand TrustContent Rights CurrencyScale Economies Unit Cost

Symrise AG strengths

Design In QualificationPreferential Input AccessScope EconomiesIP Choke PointCapex Knowhow Scale

Segment mix

Spotify Technology S.A. segments

Full profile >

Premium (subscription)

Oligopoly

88.2%

Ad-Supported (advertising)

Competitive

11.8%

Symrise AG segments

Full profile >

Taste, Nutrition & Health

Oligopoly

61.8%

Scent & Care

Oligopoly

38.2%

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.

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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.