VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 14, 2026

Stock Comparison

Tencent Holdings Limited vs LY Corporation

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

Tencent Holdings Limited

0700.HK · Hong Kong Stock Exchange

Market cap (USD)$5.5T
Gross margin (TTM)54.9%
Operating margin (TTM)31.8%
Net margin (TTM)29.9%
SectorCommunication Services
IndustryInternet Content & Information
CountryCN
Data as of2025-12-28
Moat score
73/ 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 Tencent Holdings Limited's moat claims, evidence, and risks.

View 0700.HK analysis

LY Corporation

4689 · Tokyo Stock Exchange (Prime Market)

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorCommunication Services
Industry
CountryJP
Data as of2026-01-12
Moat score
68/ 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 LY Corporation's moat claims, evidence, and risks.

View 4689 analysis

Comparison highlights

  • Moat score gap: Tencent Holdings Limited leads (73 / 100 vs 68 / 100 for LY Corporation).
  • Segment focus: Tencent Holdings Limited has 4 segments (48.3% in Value-Added Services (VAS)); LY Corporation has 3 segments (44.2% in Commerce Business).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Weak.
  • Moat breadth: Tencent Holdings Limited has 6 moat types across 2 domains; LY Corporation has 5 across 2.

Primary market context

Tencent Holdings Limited

Value-Added Services (VAS)

Market

Consumer social platforms and digital entertainment (online games, subscriptions, virtual items, digital content)

Geography

Mainland China (core) + Global (games)

Customer

Consumers

Role

Platform/operator + content publisher

Revenue share

48.3%

LY Corporation

Commerce Business

Market

Japan e-commerce platforms and online marketplaces (shopping, fashion, B2B procurement, auctions/reuse, and services e-commerce)

Geography

Japan (with some cross-border commerce exposure via merchants and platforms)

Customer

Consumers and merchants/sellers; some B2B buyers via procurement platforms

Role

Marketplace/platform operator + merchant services (payments, membership/loyalty, advertising, logistics partnerships)

Revenue share

44.2%

Side-by-side metrics

Tencent Holdings Limited
LY Corporation
Ticker / Exchange
0700.HK - Hong Kong Stock Exchange
4689 - Tokyo Stock Exchange (Prime Market)
Market cap (USD)
$5.5T
n/a
Gross margin (TTM)
54.9%
n/a
Operating margin (TTM)
31.8%
n/a
Net margin (TTM)
29.9%
n/a
Sector
Communication Services
Communication Services
Industry
Internet Content & Information
n/a
HQ country
CN
JP
Primary segment
Value-Added Services (VAS)
Commerce Business
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
73 / 100
68 / 100
Moat domains
Network, Supply
Network, Demand
Last update
2025-12-28
2026-01-12

Moat coverage

Shared moat types

Ecosystem ComplementsTwo Sided NetworkData Network Effects

Tencent Holdings Limited strengths

Direct Network EffectsDistribution ControlCapex Knowhow Scale

LY Corporation strengths

Habit DefaultSwitching Costs General

Segment mix

Tencent Holdings Limited segments

Full profile >

Value-Added Services (VAS)

Oligopoly

48.3%

Marketing Services

Oligopoly

18.4%

FinTech and Business Services

Oligopoly

32.1%

Others

Competitive

1.2%

LY Corporation segments

Full profile >

Media Business

Oligopoly

38.1%

Commerce Business

Oligopoly

44.2%

Strategic Business (FinTech)

Oligopoly

17.8%

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.