VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Thursday, January 8, 2026

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Stock Comparison

JD.com, Inc. vs BJ's Wholesale Club Holdings, 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)$335.3B
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

BJ's Wholesale Club Holdings, Inc.

BJ · New York Stock Exchange

Market cap (USD)$12.3B
Gross margin (TTM)18.6%
Operating margin (TTM)3.9%
Net margin (TTM)2.7%
SectorConsumer
IndustryDiscount Stores
CountryUS
Data as of2026-01-06
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 BJ's Wholesale Club Holdings, Inc.'s moat claims, evidence, and risks.

View BJ analysis

Comparison highlights

  • Moat score gap: JD.com, Inc. leads (64 / 100 vs 60 / 100 for BJ's Wholesale Club Holdings, Inc.).
  • Segment focus: JD.com, Inc. has 3 segments (87.7% in JD Retail); BJ's Wholesale Club Holdings, Inc. has 2 segments (97.8% in Merchandise and Gasoline Sales).
  • Moat breadth: JD.com, Inc. has 7 moat types across 3 domains; BJ's Wholesale Club Holdings, Inc. has 7 across 3.

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%

BJ's Wholesale Club Holdings, Inc.

Merchandise and Gasoline Sales

Market

Membership warehouse club retail (groceries, fresh foods, general merchandise, gasoline, ancillary services)

Geography

United States (primarily Eastern U.S.)

Customer

Households and small businesses (members)

Role

Retailer / warehouse club operator

Revenue share

97.8%

Side-by-side metrics

JD.com, Inc.
BJ's Wholesale Club Holdings, Inc.
Ticker / Exchange
9618.HK - Hong Kong Stock Exchange
BJ - New York Stock Exchange
Market cap (USD)
$335.3B
$12.3B
Gross margin (TTM)
9.5%
18.6%
Operating margin (TTM)
1.3%
3.9%
Net margin (TTM)
2.5%
2.7%
Sector
Consumer
Consumer
Industry
Specialty Retail
Discount Stores
HQ country
KY
US
Primary segment
JD Retail
Merchandise and Gasoline Sales
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Weak
Moat score
64 / 100
60 / 100
Moat domains
Supply, Demand, Network
Supply, Financial, Demand
Last update
2025-12-28
2026-01-06

Moat coverage

Shared moat types

Brand TrustPhysical Network DensityScale Economies Unit Cost

JD.com, Inc. strengths

Operational ExcellenceTwo Sided NetworkService Field NetworkEcosystem Complements

BJ's Wholesale Club Holdings, Inc. strengths

Supply Chain ControlNegative Working CapitalFloat PrepaymentHabit Default

Segment mix

JD.com, Inc. segments

Full profile >

JD Retail

Oligopoly

87.7%

JD Logistics

Competitive

11%

New Businesses

Competitive

1.3%

BJ's Wholesale Club Holdings, Inc. segments

Full profile >

Merchandise and Gasoline Sales

Oligopoly

97.8%

Membership Fee Income

Oligopoly

2.2%

Want the full wide moat stocks list?

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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.