VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

JD.com, Inc. vs Lotus Bakeries NV

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

Lotus Bakeries NV

LOTB · Euronext Brussels

Market cap (USD)$6.9B
Gross margin (TTM)28.7%
Operating margin (TTM)16.5%
Net margin (TTM)12.3%
SectorConsumer
IndustryPackaged Foods
CountryBE
Data as of2026-01-06
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 Lotus Bakeries NV's moat claims, evidence, and risks.

View LOTB analysis

Comparison highlights

  • Moat score: both at 64 / 100.
  • Segment focus: JD.com, Inc. has 3 segments (87.7% in JD Retail); Lotus Bakeries NV has 3 segments (56% in Lotus Biscoff).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Weak vs Strong.
  • Moat breadth: JD.com, Inc. has 7 moat types across 3 domains; Lotus Bakeries NV has 5 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%

Lotus Bakeries NV

Lotus Biscoff

Market

Branded caramelised biscuits (speculoos) and Biscoff spread

Geography

Global

Customer

Consumers via retail and away-from-home channels

Role

Brand owner and manufacturer

Revenue share

56%

Side-by-side metrics

JD.com, Inc.
Lotus Bakeries NV
Ticker / Exchange
9618.HK - Hong Kong Stock Exchange
LOTB - Euronext Brussels
Market cap (USD)
$335.3B
$6.9B
Gross margin (TTM)
9.5%
28.7%
Operating margin (TTM)
1.3%
16.5%
Net margin (TTM)
2.5%
12.3%
Sector
Consumer
Consumer
Industry
Specialty Retail
Packaged Foods
HQ country
KY
BE
Primary segment
JD Retail
Lotus Biscoff
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Strong
Moat score
64 / 100
64 / 100
Moat domains
Supply, Demand, Network
Demand, Supply
Last update
2025-12-28
2026-01-06

Moat coverage

Shared moat types

Brand Trust

JD.com, Inc. strengths

Operational ExcellenceTwo Sided NetworkPhysical Network DensityService Field NetworkScale Economies Unit CostEcosystem Complements

Lotus Bakeries NV strengths

Habit DefaultCapacity MoatCapex Knowhow ScaleDistribution Control

Segment mix

JD.com, Inc. segments

Full profile >

JD Retail

Oligopoly

87.7%

JD Logistics

Competitive

11%

New Businesses

Competitive

1.3%

Lotus Bakeries NV segments

Full profile >

Lotus Biscoff

Oligopoly

56%

Lotus Natural Foods

Competitive

24%

Lotus Local Heroes

Competitive

20%

Want the full wide moat stocks list?

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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.