VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Spotify Technology S.A. vs VeriSign, 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

VeriSign, Inc.

VRSN · Nasdaq Global Select Market

Market cap (USD)$22.2B
Gross margin (TTM)88%
Operating margin (TTM)67.6%
Net margin (TTM)49.9%
SectorTechnology
IndustrySoftware - Infrastructure
CountryUS
Data as of2025-12-31
Moat score
100/ 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 VeriSign, Inc.'s moat claims, evidence, and risks.

View VRSN analysis

Comparison highlights

  • Moat score gap: VeriSign, Inc. leads (100 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)); VeriSign, Inc. has 1 segment (100% in Naming Services (.com and .net registry)).
  • Primary market structure: Oligopoly vs Monopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Spotify Technology S.A. has 6 moat types across 4 domains; VeriSign, Inc. has 4 across 4.

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%

VeriSign, Inc.

Naming Services (.com and .net registry)

Market

Registry operator services for .com and .net top-level domains (domain registrations + authoritative DNS resolution)

Geography

Global

Customer

ICANN-accredited domain registrars (wholesale) and, indirectly, registrants

Role

Registry operator / DNS infrastructure provider

Revenue share

100%

Side-by-side metrics

Spotify Technology S.A.
VeriSign, Inc.
Ticker / Exchange
SPOT - New York Stock Exchange
VRSN - Nasdaq Global Select Market
Market cap (USD)
$121.5B
$22.2B
Gross margin (TTM)
31.8%
88%
Operating margin (TTM)
11.7%
67.6%
Net margin (TTM)
8.3%
49.9%
Sector
Communication Services
Technology
Industry
Internet Content & Information
Software - Infrastructure
HQ country
LU
US
Primary segment
Premium (subscription)
Naming Services (.com and .net registry)
Market structure
Oligopoly
Monopoly
Market share
31%-33% (reported)
100% (reported)
HHI estimate
n/a
10,000
Pricing power
Moderate
Strong
Moat score
65 / 100
100 / 100
Moat domains
Network, Demand, Legal, Supply
Legal, Network, Supply, Financial
Last update
2026-01-06
2025-12-31

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

VeriSign, Inc. strengths

Concession LicenseDe Facto StandardOperational ExcellenceFloat Prepayment

Segment mix

Spotify Technology S.A. segments

Full profile >

Premium (subscription)

Oligopoly

88.2%

Ad-Supported (advertising)

Competitive

11.8%

VeriSign, Inc. segments

Full profile >

Naming Services (.com and .net registry)

Monopoly

100%

Want the full wide moat stocks list?

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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.