VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Spotify Technology S.A. vs Unilever PLC

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

Unilever PLC

ULVR · London Stock Exchange

Market cap (USD)$102.7B
Gross margin (TTM)35.4%
Operating margin (TTM)16.1%
Net margin (TTM)9.9%
SectorConsumer
IndustryHousehold & Personal Products
CountryGB
Data as of2025-12-30
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 Unilever PLC's moat claims, evidence, and risks.

View ULVR analysis

Comparison highlights

  • Moat score: both at 65 / 100.
  • Segment focus: Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)); Unilever PLC has 4 segments (25.9% in Personal Care).
  • Moat breadth: Spotify Technology S.A. has 6 moat types across 4 domains; Unilever PLC has 3 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%

Unilever PLC

Personal Care

Market

Branded personal care and hygiene (deodorants, skin cleansing, oral care)

Geography

Global

Customer

Consumers (retail, e-commerce)

Role

Brand owner / manufacturer

Revenue share

25.9%

Side-by-side metrics

Spotify Technology S.A.
Unilever PLC
Ticker / Exchange
SPOT - New York Stock Exchange
ULVR - London Stock Exchange
Market cap (USD)
$121.5B
$102.7B
Gross margin (TTM)
31.8%
35.4%
Operating margin (TTM)
11.7%
16.1%
Net margin (TTM)
8.3%
9.9%
Sector
Communication Services
Consumer
Industry
Internet Content & Information
Household & Personal Products
HQ country
LU
GB
Primary segment
Premium (subscription)
Personal Care
Market structure
Oligopoly
Oligopoly
Market share
31%-33% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
65 / 100
65 / 100
Moat domains
Network, Demand, Legal, Supply
Demand, 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

Unilever PLC strengths

Distribution Control

Segment mix

Spotify Technology S.A. segments

Full profile >

Premium (subscription)

Oligopoly

88.2%

Ad-Supported (advertising)

Competitive

11.8%

Unilever PLC segments

Full profile >

Beauty & Wellbeing

Oligopoly

25.1%

Personal Care

Oligopoly

25.9%

Home Care

Oligopoly

23.4%

Foods

Competitive

25.5%

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.