VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

S.F. Holding Co., Ltd. vs Sea Limited

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

S.F. Holding Co., Ltd.

002352 · Shenzhen Stock Exchange

Market cap (USD)$187.6B
Gross margin (TTM)13.2%
Operating margin (TTM)4.7%
Net margin (TTM)3.6%
SectorIndustrials
IndustryIntegrated Freight & Logistics
CountryCN
Data as of2025-12-28
Moat score
75/ 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 S.F. Holding Co., Ltd.'s moat claims, evidence, and risks.

View 002352 analysis

Sea Limited

SE · New York Stock Exchange

Market cap (USD)$82.8B
Gross margin (TTM)44.9%
Operating margin (TTM)8.2%
Net margin (TTM)6.8%
SectorConsumer
IndustrySpecialty Retail
CountrySG
Data as of2026-01-06
Moat score
69/ 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 Sea Limited's moat claims, evidence, and risks.

View SE analysis

Comparison highlights

  • Moat score gap: S.F. Holding Co., Ltd. leads (75 / 100 vs 69 / 100 for Sea Limited).
  • Segment focus: S.F. Holding Co., Ltd. has 7 segments (43% in Time-definite Express); Sea Limited has 3 segments (73.8% in Shopee (E-commerce)).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: S.F. Holding Co., Ltd. has 9 moat types across 3 domains; Sea Limited has 6 across 3.

Primary market context

S.F. Holding Co., Ltd.

Time-definite Express

Market

Premium time-definite parcel express delivery services

Geography

China

Customer

B2B, B2C

Role

Integrated parcel pickup, sorting, line-haul, and last-mile delivery

Revenue share

43%

Sea Limited

Shopee (E-commerce)

Market

E-commerce marketplace and related value-added services

Geography

Southeast Asia, Taiwan, Brazil

Customer

Consumers and sellers

Role

Marketplace operator

Revenue share

73.8%

Side-by-side metrics

S.F. Holding Co., Ltd.
Sea Limited
Ticker / Exchange
002352 - Shenzhen Stock Exchange
SE - New York Stock Exchange
Market cap (USD)
$187.6B
$82.8B
Gross margin (TTM)
13.2%
44.9%
Operating margin (TTM)
4.7%
8.2%
Net margin (TTM)
3.6%
6.8%
Sector
Industrials
Consumer
Industry
Integrated Freight & Logistics
Specialty Retail
HQ country
CN
SG
Primary segment
Time-definite Express
Shopee (E-commerce)
Market structure
Quasi-Monopoly
Oligopoly
Market share
64.1% (reported)
52% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
75 / 100
69 / 100
Moat domains
Supply, Demand, Network
Network, Supply, Legal
Last update
2025-12-28
2026-01-06

Moat coverage

Shared moat types

Two Sided Network

S.F. Holding Co., Ltd. strengths

Physical Network DensityBrand TrustScale Economies Unit CostOperational ExcellenceService Field NetworkScope EconomiesSwitching Costs GeneralNon-core ancillary activities

Sea Limited strengths

Distribution ControlEcosystem ComplementsRegulated Standards PipeDirect Network EffectsContractual Exclusivity

Segment mix

S.F. Holding Co., Ltd. segments

Full profile >

Time-definite Express

Quasi-Monopoly

43%

Economy Express

Oligopoly

10%

LTL Freight

Competitive

13%

Cold Chain & Pharmaceutical

Competitive

3%

Intra-city On-demand

Oligopoly

3%

Supply Chain & International

Competitive

25%

Other (Non-logistics & Undistributed Units)

Competitive

3%

Sea Limited segments

Full profile >

Shopee (E-commerce)

Oligopoly

73.8%

SeaMoney (Digital Financial Services)

Competitive

14.1%

Garena (Digital Entertainment)

Competitive

11.4%

Want the full wide moat stocks list?

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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.