VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Spotify Technology S.A. vs Uber Technologies, Inc.

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

Uber Technologies, Inc.

UBER · New York Stock Exchange

Market cap (USD)$167.8B
Gross margin (TTM)39.8%
Operating margin (TTM)9.2%
Net margin (TTM)33.5%
SectorIndustrials
IndustrySoftware - Application
CountryUS
Data as of2026-01-05
Moat score
66/ 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 Uber Technologies, Inc.'s moat claims, evidence, and risks.

View UBER analysis

Comparison highlights

  • Moat score gap: Uber Technologies, Inc. leads (66 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)); Uber Technologies, Inc. has 3 segments (57% in Mobility).
  • Moat breadth: Spotify Technology S.A. has 6 moat types across 4 domains; Uber Technologies, Inc. has 4 across 2.

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%

Uber Technologies, Inc.

Mobility

Market

Ride-hailing / on-demand mobility marketplaces

Geography

Global

Customer

Consumers (riders) and independent mobility drivers; plus transit/taxi partners in some markets

Role

Marketplace platform / demand generation / dispatch and payments

Revenue share

57%

Side-by-side metrics

Spotify Technology S.A.
Uber Technologies, Inc.
Ticker / Exchange
SPOT - New York Stock Exchange
UBER - New York Stock Exchange
Market cap (USD)
$121.5B
$167.8B
Gross margin (TTM)
31.8%
39.8%
Operating margin (TTM)
11.7%
9.2%
Net margin (TTM)
8.3%
33.5%
Sector
Communication Services
Industrials
Industry
Internet Content & Information
Software - Application
HQ country
LU
US
Primary segment
Premium (subscription)
Mobility
Market structure
Oligopoly
Oligopoly
Market share
31%-33% (reported)
74%-78% (reported)
HHI estimate
n/a
6,352
Pricing power
Moderate
Moderate
Moat score
65 / 100
66 / 100
Moat domains
Network, Demand, Legal, Supply
Network, Demand
Last update
2026-01-06
2026-01-05

Moat coverage

Shared moat types

Data Network EffectsTwo Sided NetworkBrand Trust

Spotify Technology S.A. strengths

Interoperability HubContent Rights CurrencyScale Economies Unit Cost

Uber Technologies, Inc. strengths

Suite Bundling

Segment mix

Spotify Technology S.A. segments

Full profile >

Premium (subscription)

Oligopoly

88.2%

Ad-Supported (advertising)

Competitive

11.8%

Uber Technologies, Inc. segments

Full profile >

Mobility

Oligopoly

57%

Delivery

Oligopoly

31.3%

Freight

Competitive

11.7%

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.