VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

JD.com, Inc. vs Adobe Inc.

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

JD.com, Inc.

9618.HK · Hong Kong Stock Exchange

Market cap (USD)$27.4B
SectorConsumer
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

Adobe Inc.

ADBE · NASDAQ

Market cap (USD)$149B
SectorTechnology
CountryUS
Data as of2025-12-22
Moat score
68/ 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 Adobe Inc.'s moat claims, evidence, and risks.

View ADBE analysis

Comparison highlights

  • Moat score gap: Adobe Inc. leads (68 / 100 vs 64 / 100 for JD.com, Inc.).
  • Segment focus: JD.com, Inc. has 3 segments (87.7% in JD Retail); Adobe Inc. has 3 segments (74.3% in Digital Media).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Weak vs Strong.
  • Moat breadth: JD.com, Inc. has 7 moat types across 3 domains; Adobe Inc. has 4 across 2.

Primary market context

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%

Adobe Inc.

Digital Media

Market

Creative content creation and document productivity software subscriptions

Geography

Global

Customer

Individuals, SMB, enterprise

Role

Software platform

Revenue share

74.3%

Side-by-side metrics

JD.com, Inc.
Adobe Inc.
Ticker / Exchange
9618.HK - Hong Kong Stock Exchange
ADBE - NASDAQ
Market cap (USD)
$27.4B
$149B
Sector
Consumer
Technology
HQ country
KY
US
Primary segment
JD Retail
Digital Media
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Strong
Moat score
64 / 100
68 / 100
Moat domains
Supply, Demand, Network
Demand, Network
Last update
2025-12-28
2025-12-22

Moat coverage

Shared moat types

Ecosystem Complements

JD.com, Inc. strengths

Operational ExcellenceBrand TrustTwo Sided NetworkPhysical Network DensityService Field NetworkScale Economies Unit Cost

Adobe Inc. strengths

Suite BundlingDe Facto StandardData Workflow Lockin

Segment mix

JD.com, Inc. segments

Full profile >

JD Retail

Oligopoly

87.7%

JD Logistics

Competitive

11%

New Businesses

Competitive

1.3%

Adobe Inc. segments

Full profile >

Digital Media

Oligopoly

74.3%

Digital Experience

Competitive

24.7%

Publishing and Advertising

Competitive

1.1%

Want the full wide moat stocks list?

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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.