VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

JD.com, Inc. vs Automatic Data Processing, 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

Automatic Data Processing, Inc.

ADP · NASDAQ

Market cap (USD)$105B
SectorTechnology
CountryUS
Data as of2025-12-30
Moat score
71/ 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 Automatic Data Processing, Inc.'s moat claims, evidence, and risks.

View ADP analysis

Comparison highlights

  • Moat score gap: Automatic Data Processing, Inc. leads (71 / 100 vs 64 / 100 for JD.com, Inc.).
  • Segment focus: JD.com, Inc. has 3 segments (87.7% in JD Retail); Automatic Data Processing, Inc. has 2 segments (67.5% in Employer Services).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: JD.com, Inc. has 7 moat types across 3 domains; Automatic Data Processing, Inc. has 7 across 4.

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%

Automatic Data Processing, Inc.

Employer Services

Market

Payroll processing and cloud HCM (HR, time, talent, tax, benefits) software and outsourcing

Geography

Global

Customer

Businesses (SMB to large enterprise)

Role

SaaS and managed services provider

Revenue share

67.5%

Side-by-side metrics

JD.com, Inc.
Automatic Data Processing, Inc.
Ticker / Exchange
9618.HK - Hong Kong Stock Exchange
ADP - NASDAQ
Market cap (USD)
$27.4B
$105B
Sector
Consumer
Technology
HQ country
KY
US
Primary segment
JD Retail
Employer Services
Market structure
Oligopoly
Oligopoly
Market share
n/a
16.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
64 / 100
71 / 100
Moat domains
Supply, Demand, Network
Demand, Legal, Supply, Financial
Last update
2025-12-28
2025-12-30

Moat coverage

Shared moat types

Scale Economies Unit Cost

JD.com, Inc. strengths

Operational ExcellenceBrand TrustTwo Sided NetworkPhysical Network DensityService Field NetworkEcosystem Complements

Automatic Data Processing, Inc. strengths

Switching Costs GeneralCompliance AdvantageFloat PrepaymentRegulated Standards PipeSuite BundlingUnderwriting Risk Pooling

Segment mix

JD.com, Inc. segments

Full profile >

JD Retail

Oligopoly

87.7%

JD Logistics

Competitive

11%

New Businesses

Competitive

1.3%

Automatic Data Processing, Inc. segments

Full profile >

Employer Services

Oligopoly

67.5%

Professional Employer Organization (PEO) Services

Competitive

32.5%

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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.