VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Wednesday, January 7, 2026

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Stock Comparison

JD.com, Inc. vs Casey's General Stores, 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

Casey's General Stores, Inc.

CASY · NASDAQ

Market cap (USD)$21B
Gross margin (TTM)23.4%
Operating margin (TTM)5.3%
Net margin (TTM)3.6%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2026-01-06
Moat score
54/ 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 Casey's General Stores, Inc.'s moat claims, evidence, and risks.

View CASY analysis

Comparison highlights

  • Moat score gap: JD.com, Inc. leads (64 / 100 vs 54 / 100 for Casey's General Stores, Inc.).
  • Segment focus: JD.com, Inc. has 3 segments (87.7% in JD Retail); Casey's General Stores, Inc. has 4 segments (61.3% in Fuel).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Weak vs Weak.
  • Moat breadth: JD.com, Inc. has 7 moat types across 3 domains; Casey's General Stores, Inc. has 7 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%

Casey's General Stores, Inc.

Fuel

Market

Retail motor fuel sold through convenience-store fuel sites (gasoline and diesel)

Geography

United States (Casey's operating footprint; Midwest/South)

Customer

Motorists / consumers (in-store and pay-at-the-pump transactions)

Role

Fuel retailer (with some self-distribution/wholesale capabilities)

Revenue share

61.3%

Side-by-side metrics

JD.com, Inc.
Casey's General Stores, Inc.
Ticker / Exchange
9618.HK - Hong Kong Stock Exchange
CASY - NASDAQ
Market cap (USD)
$335.3B
$21B
Gross margin (TTM)
9.5%
23.4%
Operating margin (TTM)
1.3%
5.3%
Net margin (TTM)
2.5%
3.6%
Sector
Consumer
Consumer
Industry
Specialty Retail
Specialty Retail
HQ country
KY
US
Primary segment
JD Retail
Fuel
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Weak
Moat score
64 / 100
54 / 100
Moat domains
Supply, Demand, Network
Demand, Supply
Last update
2025-12-28
2026-01-06

Moat coverage

Shared moat types

Operational ExcellenceBrand TrustPhysical Network Density

JD.com, Inc. strengths

Two Sided NetworkService Field NetworkScale Economies Unit CostEcosystem Complements

Casey's General Stores, Inc. strengths

Distribution ControlHabit DefaultSupply Chain ControlScope Economies

Segment mix

JD.com, Inc. segments

Full profile >

JD Retail

Oligopoly

87.7%

JD Logistics

Competitive

11%

New Businesses

Competitive

1.3%

Casey's General Stores, Inc. segments

Full profile >

Prepared Food and Dispensed Beverage

Competitive

10.1%

Grocery and General Merchandise

Competitive

26%

Fuel

Competitive

61.3%

Other (wholesale fuel, car wash, lottery)

Competitive

2.6%

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.