VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Spotify Technology S.A. vs Thomson Reuters Corporation

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

Thomson Reuters Corporation

TRI · Toronto Stock Exchange

Market cap (USD)$80.2B
Gross margin (TTM)88.6%
Operating margin (TTM)33.9%
Net margin (TTM)23.8%
SectorIndustrials
IndustrySpecialty Business Services
CountryCA
Data as of2025-12-30
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 Thomson Reuters Corporation's moat claims, evidence, and risks.

View TRI analysis

Comparison highlights

  • Moat score gap: Thomson Reuters Corporation leads (84 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)); Thomson Reuters Corporation has 5 segments (40.1% in Legal Professionals).
  • Primary market structure: Oligopoly vs Duopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Spotify Technology S.A. has 6 moat types across 4 domains; Thomson Reuters Corporation has 4 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%

Thomson Reuters Corporation

Legal Professionals

Market

Legal research and legal workflow software

Geography

Global

Customer

Law firms, corporate legal departments, and governments

Role

Subscription software + proprietary legal content

Revenue share

40.1%

Side-by-side metrics

Spotify Technology S.A.
Thomson Reuters Corporation
Ticker / Exchange
SPOT - New York Stock Exchange
TRI - Toronto Stock Exchange
Market cap (USD)
$121.5B
$80.2B
Gross margin (TTM)
31.8%
88.6%
Operating margin (TTM)
11.7%
33.9%
Net margin (TTM)
8.3%
23.8%
Sector
Communication Services
Industrials
Industry
Internet Content & Information
Specialty Business Services
HQ country
LU
CA
Primary segment
Premium (subscription)
Legal Professionals
Market structure
Oligopoly
Duopoly
Market share
31%-33% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
65 / 100
84 / 100
Moat domains
Network, Demand, Legal, Supply
Demand, Legal, Supply
Last update
2026-01-06
2025-12-30

Moat coverage

Shared moat types

Brand TrustScale Economies Unit Cost

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkContent Rights Currency

Thomson Reuters Corporation strengths

Data Workflow LockinRegulated Standards Pipe

Segment mix

Spotify Technology S.A. segments

Full profile >

Premium (subscription)

Oligopoly

88.2%

Ad-Supported (advertising)

Competitive

11.8%

Thomson Reuters Corporation segments

Full profile >

Legal Professionals

Duopoly

40.1%

Corporates

Oligopoly

25.3%

Tax & Accounting Professionals

Oligopoly

16%

Reuters News

Oligopoly

11.4%

Global Print

Competitive

7.1%

Want the full wide moat stocks list?

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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.