VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

Keyence Corporation vs JD.com, Inc.

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

Keyence Corporation

6861.T · Tokyo Stock Exchange

Market cap (USD)$87.6B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryJP
Data as of2026-01-02
Moat score
73/ 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 Keyence Corporation's moat claims, evidence, and risks.

View 6861.T analysis

JD.com, Inc.

9618.HK · Hong Kong Stock Exchange

Market cap (USD)$334.2B
Gross margin (TTM)9.5%
Operating margin (TTM)1.3%
Net margin (TTM)2.5%
SectorConsumer
IndustrySpecialty Retail
CountryKY
Data as of2025-12-28
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 JD.com, Inc.'s moat claims, evidence, and risks.

View 9618.HK analysis

Comparison highlights

  • Moat score gap: Keyence Corporation leads (73 / 100 vs 64 / 100 for JD.com, Inc.).
  • Segment focus: Keyence Corporation has 3 segments; JD.com, Inc. has 3 segments (87.7% in JD Retail).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Weak.
  • Moat breadth: Keyence Corporation has 7 moat types across 2 domains; JD.com, Inc. has 7 across 3.

Primary market context

Keyence Corporation

Sensors & Safety/Static Control

Market

Industrial sensors and safety/static control for factory automation

Geography

Global

Customer

Manufacturers (production/automation teams) and machine builders

Role

Component OEM and application-solution provider

JD.com, Inc.

JD Retail

Market

China e-commerce retail and marketplace (B2C) plus merchant marketing services

Geography

China

Customer

Consumers (end-users) and merchants/brands (sellers/advertisers)

Role

Retailer + marketplace operator

Revenue share

87.7%

Side-by-side metrics

Keyence Corporation
JD.com, Inc.
Ticker / Exchange
6861.T - Tokyo Stock Exchange
9618.HK - Hong Kong Stock Exchange
Market cap (USD)
$87.6B
$334.2B
Gross margin (TTM)
n/a
9.5%
Operating margin (TTM)
n/a
1.3%
Net margin (TTM)
n/a
2.5%
Sector
Technology
Consumer
Industry
n/a
Specialty Retail
HQ country
JP
KY
Primary segment
Sensors & Safety/Static Control
JD Retail
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
73 / 100
64 / 100
Moat domains
Supply, Demand
Supply, Demand, Network
Last update
2026-01-02
2025-12-28

Moat coverage

Shared moat types

Service Field NetworkOperational ExcellenceBrand Trust

Keyence Corporation strengths

Design In QualificationLearning Curve YieldDistribution ControlScope Economies

JD.com, Inc. strengths

Two Sided NetworkPhysical Network DensityScale Economies Unit CostEcosystem Complements

Segment mix

Keyence Corporation segments

Full profile >

Sensors & Safety/Static Control

Oligopoly

n/a

Machine Vision, Code Reading & Laser Marking

Oligopoly

n/a

Metrology & Microscopes

Oligopoly

n/a

JD.com, Inc. segments

Full profile >

JD Retail

Oligopoly

87.7%

JD Logistics

Competitive

11%

New Businesses

Competitive

1.3%

Want the full wide moat stocks list?

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

View the moat stocks list

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.