VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

ZOZO, Inc. vs reAlpha Tech Corp.

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

ZOZO, Inc.

3092 · Tokyo Stock Exchange

Market cap (USD)$1.1T
Gross margin (TTM)91.8%
Operating margin (TTM)29.8%
Net margin (TTM)20.6%
SectorConsumer
IndustrySpecialty Retail
CountryJP
Data as of2025-12-30
Moat score
63/ 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 ZOZO, Inc.'s moat claims, evidence, and risks.

View 3092 analysis

reAlpha Tech Corp.

AIRE · Nasdaq Capital Market

Market cap (USD)$58.1M
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorReal Estate
Industry
CountryUS
Data as of2026-01-02
Moat score
42/ 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 reAlpha Tech Corp.'s moat claims, evidence, and risks.

View AIRE analysis

Comparison highlights

  • Moat score gap: ZOZO, Inc. leads (63 / 100 vs 42 / 100 for reAlpha Tech Corp.).
  • Segment focus: ZOZO, Inc. has 5 segments (71.3% in ZOZOTOWN Business); reAlpha Tech Corp. has 2 segments (83.5% in Homebuying Platform & Transaction Services).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: ZOZO, Inc. has 5 moat types across 3 domains; reAlpha Tech Corp. has 4 across 2.

Primary market context

ZOZO, Inc.

ZOZOTOWN Business

Market

Japan online fashion marketplace and resale (ZOZOTOWN)

Geography

Japan

Customer

Consumers (buyers) and fashion brands/retailers (sellers/tenants)

Role

Marketplace operator + retailer (mix of consignment, inventory retail, and used sales)

Revenue share

71.3%

reAlpha Tech Corp.

Homebuying Platform & Transaction Services

Market

Integrated U.S. residential real estate transaction services platform (brokerage + mortgage + title)

Geography

United States

Customer

Homebuyers

Role

Transaction intermediary / service provider

Revenue share

83.5%

Side-by-side metrics

ZOZO, Inc.
reAlpha Tech Corp.
Ticker / Exchange
3092 - Tokyo Stock Exchange
AIRE - Nasdaq Capital Market
Market cap (USD)
$1.1T
$58.1M
Gross margin (TTM)
91.8%
n/a
Operating margin (TTM)
29.8%
n/a
Net margin (TTM)
20.6%
n/a
Sector
Consumer
Real Estate
Industry
Specialty Retail
n/a
HQ country
JP
US
Primary segment
ZOZOTOWN Business
Homebuying Platform & Transaction Services
Market structure
Oligopoly
Competitive
Market share
18%-22% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
63 / 100
42 / 100
Moat domains
Network, Supply, Demand
Demand, Legal
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

Switching Costs General

ZOZO, Inc. strengths

Two Sided NetworkOperational ExcellenceDistribution ControlInstalled Base Consumables

reAlpha Tech Corp. strengths

Suite BundlingData Workflow LockinCompliance Advantage

Segment mix

ZOZO, Inc. segments

Full profile >

ZOZOTOWN Business

Oligopoly

71.3%

LY Corporation Commerce

Competitive

10%

BtoB business

Competitive

1%

Advertising business (ZOZOAD / WEAR reach monetization)

Monopoly

5.3%

Others (platform services, shipping/settlement fees, and options)

Monopoly

12.4%

reAlpha Tech Corp. segments

Full profile >

Homebuying Platform & Transaction Services

Competitive

83.5%

AiChat Conversational AI SaaS

Competitive

16.5%

Want the full wide moat stocks list?

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

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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.