VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Spotify Technology S.A. vs Vertex Pharmaceuticals Incorporated

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)$110.4B
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

Vertex Pharmaceuticals Incorporated

VRTX · NASDAQ

Market cap (USD)$119B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
IndustryBiotechnology
CountryUS
Data as of2026-01-08
Moat score
99/ 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 Vertex Pharmaceuticals Incorporated's moat claims, evidence, and risks.

View VRTX analysis

Comparison highlights

  • Moat score gap: Vertex Pharmaceuticals Incorporated leads (99 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)); Vertex Pharmaceuticals Incorporated has 3 segments (99.9% in Cystic Fibrosis CFTR Modulators).
  • Primary market structure: Oligopoly vs Quasi-Monopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Spotify Technology S.A. has 6 moat types across 4 domains; Vertex Pharmaceuticals Incorporated has 7 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%

Vertex Pharmaceuticals Incorporated

Cystic Fibrosis CFTR Modulators

Market

CFTR modulator therapies for cystic fibrosis

Geography

U.S., Europe, Australia, Canada

Customer

Patients (via specialty pharmacies/payers); CF care centers

Role

Drug developer/manufacturer

Revenue share

99.9%

Side-by-side metrics

Spotify Technology S.A.
Vertex Pharmaceuticals Incorporated
Ticker / Exchange
SPOT - New York Stock Exchange
VRTX - NASDAQ
Market cap (USD)
$110.4B
$119B
Gross margin (TTM)
31.8%
n/a
Operating margin (TTM)
11.7%
n/a
Net margin (TTM)
8.3%
n/a
Sector
Communication Services
Healthcare
Industry
Internet Content & Information
Biotechnology
HQ country
LU
US
Primary segment
Premium (subscription)
Cystic Fibrosis CFTR Modulators
Market structure
Oligopoly
Quasi-Monopoly
Market share
31%-33% (reported)
70%-78% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
65 / 100
99 / 100
Moat domains
Network, Demand, Legal, Supply
Legal, Demand, Financial, Supply
Last update
2026-01-06
2026-01-08

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

Vertex Pharmaceuticals Incorporated strengths

IP Choke PointGovernment Contracting RelationshipsSwitching Costs GeneralBenchmark Pricing PowerRegulated Standards PipeService Field NetworkCapacity Moat

Segment mix

Spotify Technology S.A. segments

Full profile >

Premium (subscription)

Oligopoly

88.2%

Ad-Supported (advertising)

Competitive

11.8%

Vertex Pharmaceuticals Incorporated segments

Full profile >

Cystic Fibrosis CFTR Modulators

Quasi-Monopoly

99.9%

Hemoglobinopathies Gene Therapy (CASGEVY)

Oligopoly

0.1%

Acute Pain (JOURNAVX)

Competitive

n/a

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.