VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

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Stock Comparison

ZOZO, Inc. vs InterContinental Hotels Group PLC

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

InterContinental Hotels Group PLC

IHG · London Stock Exchange

Market cap (USD)$18.8B
Gross margin (TTM)—
Operating margin (TTM)—
Net margin (TTM)—
SectorConsumer
Industry—
CountryGB
Data as of2026-01-10
Moat score
57/ 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 InterContinental Hotels Group PLC's moat claims, evidence, and risks.

View IHG analysis

Comparison highlights

  • Moat score gap: ZOZO, Inc. leads (63 / 100 vs 57 / 100 for InterContinental Hotels Group PLC).
  • Segment focus: ZOZO, Inc. has 5 segments (71.3% in ZOZOTOWN Business); InterContinental Hotels Group PLC has 5 segments (36% in Fee business (franchise, management and ancillary fees)).
  • Moat breadth: ZOZO, Inc. has 5 moat types across 3 domains; InterContinental Hotels Group PLC has 8 across 3.

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%

InterContinental Hotels Group PLC

Fee business (franchise, management and ancillary fees)

Market

Branded hotel franchising and management services

Geography

Global

Customer

Hotel owners and developers

Role

Franchisor and hotel manager (asset-light brand platform)

Revenue share

36%

Side-by-side metrics

ZOZO, Inc.
InterContinental Hotels Group PLC
Ticker / Exchange
3092 - Tokyo Stock Exchange
IHG - London Stock Exchange
Market cap (USD)
$1.2T
$18.8B
Gross margin (TTM)
91.8%
n/a
Operating margin (TTM)
29.8%
n/a
Net margin (TTM)
20.6%
n/a
Sector
Consumer
Consumer
Industry
Specialty Retail
n/a
HQ country
JP
GB
Primary segment
ZOZOTOWN Business
Fee business (franchise, management and ancillary fees)
Market structure
Oligopoly
Oligopoly
Market share
18%-22% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
57 / 100
Moat domains
Network, Supply, Demand
Demand, Supply, Network
Last update
2025-12-30
2026-01-10

Moat coverage

Shared moat types

Two Sided NetworkDistribution Control

ZOZO, Inc. strengths

Operational ExcellenceSwitching Costs GeneralInstalled Base Consumables

InterContinental Hotels Group PLC strengths

Brand TrustScale Economies Unit CostLong Term ContractsPass-through reimbursement revenueAsset-heavy hotel operations (limited moat)Immaterial ancillary activity

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%

InterContinental Hotels Group PLC segments

Full profile >

Fee business (franchise, management and ancillary fees)

Oligopoly

36%

System Fund (marketing, reservations and loyalty assessments)

Monopoly

32.7%

Reimbursable revenues (managed hotel staff reimbursements)

Competitive

20.3%

Owned, leased and managed lease hotels

Competitive

10.5%

Insurance activities (ancillary)

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.

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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.