VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Kao Corporation vs Bentley Systems, Incorporated

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

Kao Corporation

4452 · Tokyo Stock Exchange

Market cap (USD)$2.9T
Gross margin (TTM)39.2%
Operating margin (TTM)9.5%
Net margin (TTM)7.3%
SectorConsumer
IndustryHousehold & Personal Products
CountryJP
Data as of2025-12-28
Moat score
60/ 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 Kao Corporation's moat claims, evidence, and risks.

View 4452 analysis

Bentley Systems, Incorporated

BSY · NASDAQ

Market cap (USD)$12.5B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryUS
Data as of2026-01-10
Moat score
64/ 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 Bentley Systems, Incorporated's moat claims, evidence, and risks.

View BSY analysis

Comparison highlights

  • Moat score gap: Bentley Systems, Incorporated leads (64 / 100 vs 60 / 100 for Kao Corporation).
  • Segment focus: Kao Corporation has 5 segments (33.5% in Hygiene Living Care Business); Bentley Systems, Incorporated has 4 segments.
  • Moat breadth: Kao Corporation has 5 moat types across 2 domains; Bentley Systems, Incorporated has 7 across 2.

Primary market context

Kao Corporation

Hygiene Living Care Business

Market

Household & fabric care and sanitary consumer packaged goods

Geography

Japan and Asia (with select global brands)

Customer

Consumers (retail)

Role

Branded manufacturer

Revenue share

33.5%

Bentley Systems, Incorporated

Engineering Applications (Bentley Open)

Market

Infrastructure engineering design and simulation software (CAD/BIM for civil, rail, water, plants, and facilities)

Geography

Global

Customer

Engineering and construction firms; public and private infrastructure owner-operators

Role

Engineering authoring + analysis software vendor

Side-by-side metrics

Kao Corporation
Bentley Systems, Incorporated
Ticker / Exchange
4452 - Tokyo Stock Exchange
BSY - NASDAQ
Market cap (USD)
$2.9T
$12.5B
Gross margin (TTM)
39.2%
n/a
Operating margin (TTM)
9.5%
n/a
Net margin (TTM)
7.3%
n/a
Sector
Consumer
Technology
Industry
Household & Personal Products
n/a
HQ country
JP
US
Primary segment
Hygiene Living Care Business
Engineering Applications (Bentley Open)
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
60 / 100
64 / 100
Moat domains
Demand, Supply
Demand, Network
Last update
2025-12-28
2026-01-10

Moat coverage

Shared moat types

Training Org Change Costs

Kao Corporation strengths

Brand TrustService Field NetworkCapex Knowhow ScaleDesign In Qualification

Bentley Systems, Incorporated strengths

Suite BundlingInteroperability HubData Workflow LockinProcurement InertiaDe Facto StandardEcosystem Complements

Segment mix

Kao Corporation segments

Full profile >

Hygiene Living Care Business

Oligopoly

33.5%

Health Beauty Care Business

Competitive

26%

Cosmetics Business

Competitive

15%

Business Connected Business

Competitive

2.4%

Chemical Business

Competitive

23.1%

Bentley Systems, Incorporated segments

Full profile >

Engineering Applications (Bentley Open)

Oligopoly

n/a

Geoprofessional Applications (Seequent)

Oligopoly

n/a

Bentley Infrastructure Cloud (ProjectWise, SYNCHRO, AssetWise)

Oligopoly

n/a

Digital Twin Platform & Asset Analytics (Cesium, iTwin, Asset Analytics)

Competitive

n/a

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.