VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

Wide Moat Stocks Home My Collections

Stock Comparison

Alibaba Group Holding Limited vs TC Energy Corporation

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

Alibaba Group Holding Limited

9988.HK · The Stock Exchange of Hong Kong Limited

Market cap (USD)$2.8T

Gross margin (TTM)41.2%

Operating margin (TTM)10.9%

Net margin (TTM)12.2%

SectorConsumer

IndustrySpecialty Retail

CountryKY

Data as of2025-12-29

Moat score

56/ 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 Alibaba Group Holding Limited's moat claims, evidence, and risks.

View 9988.HK analysis

TC Energy Corporation

TRP · New York Stock Exchange

Market cap (USD)$37B

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorEnergy

Industry—

CountryCA

Data as of2026-01-02

Moat score

80/ 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 TC Energy Corporation's moat claims, evidence, and risks.

View TRP analysis

Comparison highlights

Moat score gap: TC Energy Corporation leads (80 / 100 vs 56 / 100 for Alibaba Group Holding Limited).
Segment focus: Alibaba Group Holding Limited has 7 segments (41% in Taobao and Tmall Group); TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines).
Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Weak.
Moat breadth: Alibaba Group Holding Limited has 6 moat types across 3 domains; TC Energy Corporation has 4 across 3.

Primary market context

Alibaba Group Holding Limited

Taobao and Tmall Group

Market

China online retail marketplaces & merchant services (Taobao, Tmall, 1688)

Geography

China

Customer

Consumers and merchants/brands

Role

Marketplace + advertising/merchant services

Revenue share

41%

TC Energy Corporation

U.S. Natural Gas Pipelines

Market

U.S. interstate natural gas pipeline transportation (FERC-regulated)

Geography

United States

Customer

Utilities/LDCs, power generators, LNG/export facilities, industrial users and marketers (as shippers)

Role

Midstream pipeline operator

Revenue share

46.1%

Side-by-side metrics

Alibaba Group Holding Limited

TC Energy Corporation

Ticker / Exchange

9988.HK - The Stock Exchange of Hong Kong Limited

TRP - New York Stock Exchange

Market cap (USD)

$2.8T

$37B

Gross margin (TTM)

41.2%

n/a

Operating margin (TTM)

10.9%

n/a

Net margin (TTM)

12.2%

n/a

Sector

Consumer

Energy

Industry

Specialty Retail

n/a

HQ country

Primary segment

Taobao and Tmall Group

U.S. Natural Gas Pipelines

Market structure

Oligopoly

Market share

n/a

HHI estimate

n/a

Pricing power

Moderate

Weak

Moat score

56 / 100

80 / 100

Moat domains

Network, Supply, Demand

Legal, Demand, Supply

Last update

2025-12-29

2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Alibaba Group Holding Limited strengths

Two Sided NetworkEcosystem ComplementsCapex Knowhow ScaleSwitching Costs GeneralSupply Chain ControlBrand Trust

TC Energy Corporation strengths

Regulated Standards PipeLong Term ContractsPhysical Network DensityGovernment Contracting Relationships

Segment mix

Alibaba Group Holding Limited segments

Full profile >

Taobao and Tmall Group

Oligopoly

41%

Alibaba International Digital Commerce Group

Competitive

12.1%

Cloud Intelligence Group (Alibaba Cloud)

Oligopoly

10.8%

Cainiao Smart Logistics Network Limited

Competitive

9.2%

Local Services Group

Oligopoly

6.1%

Digital Media and Entertainment Group

Competitive

All Others

Competitive

18.8%

TC Energy Corporation segments

Full profile >

Canadian Natural Gas Pipelines

Quasi-Monopoly

40.7%

U.S. Natural Gas Pipelines

Oligopoly

46.1%

Mexico Natural Gas Pipelines

Oligopoly

6.3%

Power and Energy Solutions

Competitive

6.9%

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.