VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

ZOZO, Inc. vs Sea Limited

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

Sea Limited

SE · New York Stock Exchange

Market cap (USD)$82.8B
Gross margin (TTM)44.9%
Operating margin (TTM)8.2%
Net margin (TTM)6.8%
SectorConsumer
IndustrySpecialty Retail
CountrySG
Data as of2026-01-06
Moat score
69/ 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 Sea Limited's moat claims, evidence, and risks.

View SE analysis

Comparison highlights

  • Moat score gap: Sea Limited leads (69 / 100 vs 63 / 100 for ZOZO, Inc.).
  • Segment focus: ZOZO, Inc. has 5 segments (71.3% in ZOZOTOWN Business); Sea Limited has 3 segments (73.8% in Shopee (E-commerce)).
  • Moat breadth: ZOZO, Inc. has 5 moat types across 3 domains; Sea Limited has 6 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%

Sea Limited

Shopee (E-commerce)

Market

E-commerce marketplace and related value-added services

Geography

Southeast Asia, Taiwan, Brazil

Customer

Consumers and sellers

Role

Marketplace operator

Revenue share

73.8%

Side-by-side metrics

ZOZO, Inc.
Sea Limited
Ticker / Exchange
3092 - Tokyo Stock Exchange
SE - New York Stock Exchange
Market cap (USD)
$1.1T
$82.8B
Gross margin (TTM)
91.8%
44.9%
Operating margin (TTM)
29.8%
8.2%
Net margin (TTM)
20.6%
6.8%
Sector
Consumer
Consumer
Industry
Specialty Retail
Specialty Retail
HQ country
JP
SG
Primary segment
ZOZOTOWN Business
Shopee (E-commerce)
Market structure
Oligopoly
Oligopoly
Market share
18%-22% (reported)
52% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
69 / 100
Moat domains
Network, Supply, Demand
Network, Supply, Legal
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Two Sided NetworkDistribution Control

ZOZO, Inc. strengths

Operational ExcellenceSwitching Costs GeneralInstalled Base Consumables

Sea Limited strengths

Ecosystem ComplementsRegulated Standards PipeDirect Network EffectsContractual Exclusivity

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%

Sea Limited segments

Full profile >

Shopee (E-commerce)

Oligopoly

73.8%

SeaMoney (Digital Financial Services)

Competitive

14.1%

Garena (Digital Entertainment)

Competitive

11.4%

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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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.