VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Spirax Group plc vs Universal Music Group N.V.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$6.7B
SectorIndustrials
CountryGB
Data as of2025-12-28
Moat score
71/ 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 Spirax Group plc's moat claims, evidence, and risks.

View SPX analysis

Universal Music Group N.V.

UMG · Euronext Amsterdam

Market cap (USD)
SectorCommunication Services
CountryNL
Data as of2025-12-28
Moat score
77/ 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 Universal Music Group N.V.'s moat claims, evidence, and risks.

View UMG analysis

Comparison highlights

  • Moat score gap: Universal Music Group N.V. leads (77 / 100 vs 71 / 100 for Spirax Group plc).
  • Segment focus: Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions); Universal Music Group N.V. has 3 segments (75.2% in Recorded Music).
  • Moat breadth: Spirax Group plc has 6 moat types across 2 domains; Universal Music Group N.V. has 5 across 3.

Primary market context

Spirax Group plc

Steam Thermal Solutions

Market

Industrial and commercial steam systems (condensate management, controls, thermal energy management products and solutions)

Geography

Global

Customer

Industrial process operators and commercial facility operators

Role

OEM / solutions provider

Revenue share

52.1%

Universal Music Group N.V.

Recorded Music

Market

Recorded music rights (labels) and monetization (streaming, physical, licensing/sync)

Geography

Global

Customer

Digital service providers (audio/video/social), physical retailers, and licensing counterparties

Role

Label / master rights holder; artist development, marketing and distribution

Revenue share

75.2%

Side-by-side metrics

Spirax Group plc
Universal Music Group N.V.
Ticker / Exchange
SPX - London Stock Exchange
UMG - Euronext Amsterdam
Market cap (USD)
$6.7B
n/a
Sector
Industrials
Communication Services
HQ country
GB
NL
Primary segment
Steam Thermal Solutions
Recorded Music
Market structure
Oligopoly
Oligopoly
Market share
n/a
31%-33% (estimated)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
77 / 100
Moat domains
Supply, Demand
Legal, Supply, Demand
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

Service Field NetworkBrand Trust

Spirax Group plc strengths

Installed Base ConsumablesCapex Knowhow ScaleDesign In QualificationSuite Bundling

Universal Music Group N.V. strengths

Content Rights CurrencyScale Economies Unit CostLong Term Contracts

Segment mix

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

52.1%

Electric Thermal Solutions

Competitive

24.3%

Watson-Marlow Fluid Technology Solutions

Oligopoly

23.6%

Universal Music Group N.V. segments

Full profile >

Recorded Music

Oligopoly

75.2%

Music Publishing

Oligopoly

17.9%

Merchandising and Other

Competitive

7.1%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

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.