VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

Stock Comparison

Baidu, Inc. vs Bilibili Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Baidu, Inc.

9888 · The Stock Exchange of Hong Kong Limited

Market cap (USD)$44.5B
Gross margin (TTM)42%
Operating margin (TTM)-5.8%
Net margin (TTM)0.3%
SectorTechnology
IndustryInternet Content & Information
CountryCN
Data as of2026-05-26
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 Baidu, Inc.'s moat claims, evidence, and risks.

View 9888 analysis

Bilibili Inc.

BILI · Nasdaq Global Select Market

Market cap (USD)$7.4B
Gross margin (TTM)36.8%
Operating margin (TTM)4.1%
Net margin (TTM)4.6%
SectorCommunication Services
IndustryElectronic Gaming & Multimedia
CountryKY
Data as of2026-05-01
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 Bilibili Inc.'s moat claims, evidence, and risks.

View BILI analysis

Comparison highlights

  • Moat score gap: Baidu, Inc. leads (64 / 100 vs 60 / 100 for Bilibili Inc.).
  • Segment focus: Baidu, Inc. has 4 segments (52.6% in Online Marketing (Search & Feed Ads)); Bilibili Inc. has 4 segments (39.3% in Value-Added Services).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Baidu, Inc. has 10 moat types across 4 domains; Bilibili Inc. has 7 across 4.

Primary market context

Baidu, Inc.

Online Marketing (Search & Feed Ads)

Market

Chinese-language search and feed-based online marketing services

Geography

Mainland China

Customer

Advertisers (SMEs and larger enterprises) buying performance-based and feed ads

Role

Search + feed platform operator / ad marketplace

Revenue share

52.6%

Bilibili Inc.

Value-Added Services

Market

China online video community VAS, live broadcasting, premium memberships, fan charging and premium content services

Geography

China

Customer

Video users, premium members, live-streaming users, fan communities, hosts and content creators

Role

Video community operator, creator monetization platform, premium-content distributor and live-broadcasting virtual-item platform

Revenue share

39.3%

Side-by-side metrics

Baidu, Inc.
Bilibili Inc.
Ticker / Exchange
9888 - The Stock Exchange of Hong Kong Limited
BILI - Nasdaq Global Select Market
Market cap (USD)
$44.5B
$7.4B
Gross margin (TTM)
42%
36.8%
Operating margin (TTM)
-5.8%
4.1%
Net margin (TTM)
0.3%
4.6%
Sector
Technology
Communication Services
Industry
Internet Content & Information
Electronic Gaming & Multimedia
HQ country
CN
KY
Primary segment
Online Marketing (Search & Feed Ads)
Value-Added Services
Market structure
Oligopoly
Competitive
Market share
42%-47% (reported)
33%-34% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
64 / 100
60 / 100
Moat domains
Demand, Network, Supply, Legal
Network, Demand, Supply, Legal
Last update
2026-05-26
2026-05-01

Moat coverage

Shared moat types

Habit DefaultBrand TrustEcosystem ComplementsContent Rights CurrencyData Network Effects

Baidu, Inc. strengths

Capex Knowhow ScaleData Workflow LockinLearning Curve YieldRegulated Standards PipeScale Economies Unit Cost

Bilibili Inc. strengths

Two Sided NetworkDistribution Control

Segment mix

Baidu, Inc. segments

Full profile >

Online Marketing (Search & Feed Ads)

Oligopoly

52.6%

AI Cloud (IaaS/PaaS/SaaS + GenAI APIs)

Oligopoly

15.3%

Intelligent Driving & Other Growth Initiatives

Oligopoly

11%

iQIYI (Online Entertainment)

Oligopoly

21.1%

Bilibili Inc. segments

Full profile >

Value-Added Services

Competitive

39.3%

Advertising

Competitive

33.1%

Mobile Games

Oligopoly

21.1%

IP Derivatives and Others

Competitive

6.5%

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.