VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Saturday, January 3, 2026

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Stock Comparison

JD.com, Inc. vs KONE Oyj

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)$334.2B

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

KONE Oyj

KNEBV · Nasdaq Helsinki

Market cap (USD)$37B

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorIndustrials

Industry—

CountryFI

Data as of2026-01-02

Moat score

63/ 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 KONE Oyj's moat claims, evidence, and risks.

View KNEBV analysis

Comparison highlights

Moat score gap: JD.com, Inc. leads (64 / 100 vs 63 / 100 for KONE Oyj).
Segment focus: JD.com, Inc. has 3 segments (87.7% in JD Retail); KONE Oyj has 3 segments (40.6% in New Building Solutions).
Moat breadth: JD.com, Inc. has 7 moat types across 3 domains; KONE Oyj has 8 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%

KONE Oyj

New Building Solutions

Market

Elevator, escalator and automatic building door new equipment (new installations)

Geography

Global

Customer

Property developers and general contractors

Role

OEM + project installation

Revenue share

40.6%

Side-by-side metrics

JD.com, Inc.

KONE Oyj

Ticker / Exchange

9618.HK - Hong Kong Stock Exchange

KNEBV - Nasdaq Helsinki

Market cap (USD)

$334.2B

$37B

Gross margin (TTM)

9.5%

n/a

Operating margin (TTM)

1.3%

n/a

Net margin (TTM)

2.5%

n/a

Sector

Consumer

Industrials

Industry

Specialty Retail

n/a

HQ country

Primary segment

JD Retail

New Building Solutions

Market structure

Oligopoly

Market share

n/a

HHI estimate

n/a

Pricing power

Weak

Moat score

64 / 100

63 / 100

Moat domains

Supply, Demand, Network

Supply, Financial, Demand, Legal

Last update

2025-12-28

2026-01-02

Moat coverage

Shared moat types

Operational ExcellenceService Field Network

JD.com, Inc. strengths

Brand TrustTwo Sided NetworkPhysical Network DensityScale Economies Unit CostEcosystem Complements

KONE Oyj strengths

Capex Knowhow ScaleNegative Working CapitalInstalled Base ConsumablesSwitching Costs GeneralData Workflow LockinCompliance Advantage

Segment mix

JD.com, Inc. segments

Full profile >

JD Retail

Oligopoly

87.7%

JD Logistics

Competitive

11%

New Businesses

Competitive

1.3%

KONE Oyj segments

Full profile >

New Building Solutions

Oligopoly

40.6%

Service (maintenance & repairs)

Competitive

40.6%

Modernization

Competitive

18.8%

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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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.