VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

ZOZO, Inc. vs Floor & Decor Holdings, Inc.

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)$1.2T
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

Floor & Decor Holdings, Inc.

FND · New York Stock Exchange

Market cap (USD)$7.8B
Gross margin (TTM)42.4%
Operating margin (TTM)6.1%
Net margin (TTM)4.7%
SectorConsumer
IndustryHome Improvement
CountryUS
Data as of2026-01-08
Moat score
55/ 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 Floor & Decor Holdings, Inc.'s moat claims, evidence, and risks.

View FND analysis

Comparison highlights

  • Moat score gap: ZOZO, Inc. leads (63 / 100 vs 55 / 100 for Floor & Decor Holdings, Inc.).
  • Segment focus: ZOZO, Inc. has 5 segments (71.3% in ZOZOTOWN Business); Floor & Decor Holdings, Inc. has 2 segments (95% in Floor & Decor Retail).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: ZOZO, Inc. has 5 moat types across 3 domains; Floor & Decor Holdings, Inc. has 6 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%

Floor & Decor Holdings, Inc.

Floor & Decor Retail

Market

U.S. retail hard-surface flooring and accessories

Geography

United States

Customer

Homeowners (DIY/BIY) and professional installers (Pros)

Role

Specialty retailer (warehouse-format stores + e-commerce)

Revenue share

95%

Side-by-side metrics

ZOZO, Inc.
Floor & Decor Holdings, Inc.
Ticker / Exchange
3092 - Tokyo Stock Exchange
FND - New York Stock Exchange
Market cap (USD)
$1.2T
$7.8B
Gross margin (TTM)
91.8%
42.4%
Operating margin (TTM)
29.8%
6.1%
Net margin (TTM)
20.6%
4.7%
Sector
Consumer
Consumer
Industry
Specialty Retail
Home Improvement
HQ country
JP
US
Primary segment
ZOZOTOWN Business
Floor & Decor Retail
Market structure
Oligopoly
Competitive
Market share
18%-22% (reported)
9%-11% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
63 / 100
55 / 100
Moat domains
Network, Supply, Demand
Supply, Demand
Last update
2025-12-30
2026-01-08

Moat coverage

Shared moat types

Operational ExcellenceDistribution Control

ZOZO, Inc. strengths

Two Sided NetworkSwitching Costs GeneralInstalled Base Consumables

Floor & Decor Holdings, Inc. strengths

Scale Economies Unit CostScope EconomiesBrand TrustProcurement Inertia

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%

Floor & Decor Holdings, Inc. segments

Full profile >

Floor & Decor Retail

Competitive

95%

Spartan (Commercial surfaces)

Competitive

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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Looking for expansion-stage stocks?

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

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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.