VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

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Stock Comparison

Nintendo Co., Ltd. vs Bentley Systems, Incorporated

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

Nintendo Co., Ltd.

7974.JP · Tokyo Stock Exchange

Market cap (USD)$11.8T
Gross margin (TTM)45.4%
Operating margin (TTM)17.6%
Net margin (TTM)21.2%
SectorCommunication Services
IndustryElectronic Gaming & Multimedia
CountryJP
Data as of2026-01-01
Moat score
76/ 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 Nintendo Co., Ltd.'s moat claims, evidence, and risks.

View 7974.JP 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: Nintendo Co., Ltd. leads (76 / 100 vs 64 / 100 for Bentley Systems, Incorporated).
  • Segment focus: Nintendo Co., Ltd. has 3 segments (90.2% in Nintendo Switch platform ecosystem); Bentley Systems, Incorporated has 4 segments.
  • Moat breadth: Nintendo Co., Ltd. has 5 moat types across 3 domains; Bentley Systems, Incorporated has 7 across 2.

Primary market context

Nintendo Co., Ltd.

Nintendo Switch platform ecosystem

Market

Dedicated console gaming platform ecosystem (hardware + software + digital storefront + online services)

Geography

Global

Customer

Consumers

Role

Platform owner / first-party publisher

Revenue share

90.2%

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

Nintendo Co., Ltd.
Bentley Systems, Incorporated
Ticker / Exchange
7974.JP - Tokyo Stock Exchange
BSY - NASDAQ
Market cap (USD)
$11.8T
$12.5B
Gross margin (TTM)
45.4%
n/a
Operating margin (TTM)
17.6%
n/a
Net margin (TTM)
21.2%
n/a
Sector
Communication Services
Technology
Industry
Electronic Gaming & Multimedia
n/a
HQ country
JP
US
Primary segment
Nintendo Switch platform ecosystem
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
76 / 100
64 / 100
Moat domains
Network, Demand, Legal
Demand, Network
Last update
2026-01-01
2026-01-10

Moat coverage

Shared moat types

Ecosystem Complements

Nintendo Co., Ltd. strengths

Switching Costs GeneralBrand TrustIP Choke PointContent Rights Currency

Bentley Systems, Incorporated strengths

Training Org Change CostsSuite BundlingInteroperability HubData Workflow LockinProcurement InertiaDe Facto Standard

Segment mix

Nintendo Co., Ltd. segments

Full profile >

Nintendo Switch platform ecosystem

Oligopoly

90.2%

Mobile and IP-related income

Competitive

5.8%

Other products and legacy platforms

Competitive

4%

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.