VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wide Moat StocksExpansion-Stage Stocks Home My Collections

Stock Comparison

Tencent Holdings Limited vs Alphabet 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)$4.7T
Gross margin (TTM)54.5%
Operating margin (TTM)32.3%
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

Alphabet Inc.

GOOGL · The Nasdaq Stock Market

Market cap (USD)$3.8T
Gross margin (TTM)59.7%
Operating margin (TTM)32%
Net margin (TTM)32.8%
SectorCommunication Services
IndustryInternet Content & Information
CountryUS
Data as of2025-12-21
Moat score
86/ 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 Alphabet Inc.'s moat claims, evidence, and risks.

View GOOGL analysis

Comparison highlights

  • Moat score gap: Alphabet Inc. leads (86 / 100 vs 73 / 100 for Tencent Holdings Limited).
  • Segment focus: Tencent Holdings Limited has 4 segments (48.3% in Value-Added Services (VAS)); Alphabet Inc. has 6 segments (56.6% in Google Search & other (Advertising)).
  • Primary market structure: Oligopoly vs Quasi-Monopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Tencent Holdings Limited has 6 moat types across 2 domains; Alphabet Inc. has 10 across 4.

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%

Alphabet Inc.

Google Search & other (Advertising)

Market

Search advertising (intent-based digital ads)

Geography

Global

Customer

Advertisers (SMB to enterprise)

Role

Ad platform / publisher

Revenue share

56.6%

Side-by-side metrics

Tencent Holdings Limited
Alphabet Inc.
Ticker / Exchange
0700.HK - Hong Kong Stock Exchange
GOOGL - The Nasdaq Stock Market
Market cap (USD)
$4.7T
$3.8T
Gross margin (TTM)
54.5%
59.7%
Operating margin (TTM)
32.3%
32%
Net margin (TTM)
29.9%
32.8%
Sector
Communication Services
Communication Services
Industry
Internet Content & Information
Internet Content & Information
HQ country
CN
US
Primary segment
Value-Added Services (VAS)
Google Search & other (Advertising)
Market structure
Oligopoly
Quasi-Monopoly
Market share
n/a
88%-91% (reported)
HHI estimate
n/a
8,115
Pricing power
Moderate
Strong
Moat score
73 / 100
86 / 100
Moat domains
Network, Supply
Network, Demand, Legal, Supply
Last update
2025-12-28
2025-12-21

Moat coverage

Shared moat types

Ecosystem ComplementsTwo Sided NetworkData Network EffectsCapex Knowhow Scale

Tencent Holdings Limited strengths

Direct Network EffectsDistribution Control

Alphabet Inc. strengths

Habit DefaultContent Rights CurrencyOperational ExcellenceDefault OS GatewaySwitching Costs GeneralIncubation & patient capital

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%

Alphabet Inc. segments

Full profile >

Google Search & other (Advertising)

Quasi-Monopoly

56.6%

YouTube (Advertising)

Oligopoly

10.3%

Google Network (Advertising)

Competitive

8.7%

Google Subscriptions, Platforms & Devices

Quasi-Monopoly

11.5%

Google Cloud

Oligopoly

12.4%

Other Bets

Competitive

0.5%

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

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.