VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Baidu, Inc. vs Duolingo, 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)$395.8B
Gross margin (TTM)44.7%
Operating margin (TTM)-2.6%
Net margin (TTM)6.9%
SectorTechnology
IndustryInternet Content & Information
CountryCN
Data as of2025-12-28
Moat score
71/ 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

Duolingo, Inc.

DUOL · NASDAQ

Market cap (USD)$8.6B
Gross margin (TTM)72%
Operating margin (TTM)11%
Net margin (TTM)40%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2026-01-06
Moat score
68/ 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 Duolingo, Inc.'s moat claims, evidence, and risks.

View DUOL analysis

Comparison highlights

  • Moat score gap: Baidu, Inc. leads (71 / 100 vs 68 / 100 for Duolingo, Inc.).
  • Segment focus: Baidu, Inc. has 4 segments (54.5% in Online Marketing (Search & Feed Ads)); Duolingo, Inc. has 2 segments (93.9% in Duolingo App).
  • Primary market structure: Quasi-Monopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Baidu, Inc. has 10 moat types across 4 domains; Duolingo, Inc. has 6 across 3.

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

54.5%

Duolingo, Inc.

Duolingo App

Market

Mobile-first, freemium language learning and adjacent subjects (math, music)

Geography

Global

Customer

Consumers (end-users); advertisers

Role

Digital learning platform / content & software publisher

Revenue share

93.9%

Side-by-side metrics

Baidu, Inc.
Duolingo, Inc.
Ticker / Exchange
9888 - The Stock Exchange of Hong Kong Limited
DUOL - NASDAQ
Market cap (USD)
$395.8B
$8.6B
Gross margin (TTM)
44.7%
72%
Operating margin (TTM)
-2.6%
11%
Net margin (TTM)
6.9%
40%
Sector
Technology
Technology
Industry
Internet Content & Information
Software - Application
HQ country
CN
US
Primary segment
Online Marketing (Search & Feed Ads)
Duolingo App
Market structure
Quasi-Monopoly
Competitive
Market share
62%-66% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
68 / 100
Moat domains
Demand, Network, Supply, Legal
Network, Demand, Supply
Last update
2025-12-28
2026-01-06

Moat coverage

Shared moat types

Habit DefaultBrand TrustData Network Effects

Baidu, Inc. strengths

Ecosystem ComplementsCapex Knowhow ScaleData Workflow LockinLearning Curve YieldRegulated Standards PipeContent Rights CurrencyScale Economies Unit Cost

Duolingo, Inc. strengths

Scope EconomiesDesign In QualificationOperational Excellence

Segment mix

Baidu, Inc. segments

Full profile >

Online Marketing (Search & Feed Ads)

Quasi-Monopoly

54.5%

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

Oligopoly

16.3%

Intelligent Driving & Other Growth Initiatives

Oligopoly

7.4%

iQIYI (Online Entertainment)

Oligopoly

21.8%

Duolingo, Inc. segments

Full profile >

Duolingo App

Competitive

93.9%

Duolingo English Test

Oligopoly

6.1%

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.

View expansion-stage stocks

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.