VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Sunday, December 28, 2025

Stock Comparison

Tencent Holdings Limited vs Fortinet, Inc.

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)$705.6B
SectorCommunication Services
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.

View full moat analysis >

Fortinet, Inc.

FTNT · NASDAQ

Market cap (USD)
SectorTechnology
CountryUS
Data as of2025-12-26
Moat score
84/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

View full moat analysis >

Side-by-side metrics

Tencent Holdings Limited
Fortinet, Inc.
Ticker / Exchange
0700.HK - Hong Kong Stock Exchange
FTNT - NASDAQ
Market cap (USD)
$705.6B
n/a
Sector
Communication Services
Technology
HQ country
CN
US
Primary segment
Value-Added Services (VAS)
Subscriptions & Support Services
Market structure
Oligopoly
Quasi-Monopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
73 / 100
84 / 100
Moat domains
Network, Supply
Demand, Supply, Financial
Last update
2025-12-28
2025-12-26

Moat coverage

Shared moat types

No overlap yet.

Tencent Holdings Limited strengths

Direct Network EffectsEcosystem ComplementsDistribution ControlTwo Sided NetworkData Network EffectsCapex Knowhow Scale

Fortinet, Inc. strengths

Suite BundlingKeystone ComponentScope EconomiesBenchmark Pricing PowerInstalled Base ConsumablesLong Term ContractsSwitching 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%

Fortinet, Inc. segments

Full profile >

Secure Networking Products

Oligopoly

32%

Subscriptions & Support Services

Quasi-Monopoly

68%

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.