VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Airbnb, Inc. vs Booking Holdings Inc.

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

Airbnb, Inc.

ABNB · NASDAQ

Market cap (USD)$75.6B
Gross margin (TTM)83%
Operating margin (TTM)22.7%
Net margin (TTM)22%
SectorConsumer
IndustryTravel Services
CountryUS
Data as of2025-12-25
Moat score
69/ 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 Airbnb, Inc.'s moat claims, evidence, and risks.

View ABNB analysis

Booking Holdings Inc.

BKNG · NASDAQ Global Select Market

Market cap (USD)$143.7B
Gross margin (TTM)100%
Operating margin (TTM)32.7%
Net margin (TTM)19.4%
SectorConsumer
IndustryTravel Services
CountryUS
Data as of2025-12-25
Moat score
77/ 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 Booking Holdings Inc.'s moat claims, evidence, and risks.

View BKNG analysis

Comparison highlights

  • Moat score gap: Booking Holdings Inc. leads (77 / 100 vs 69 / 100 for Airbnb, Inc.).
  • Segment focus: Airbnb, Inc. has 1 segment (100% in Airbnb Marketplace); Booking Holdings Inc. has 2 segments (95.5% in OTC online travel reservations (Booking.com, Priceline, Agoda)).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Airbnb, Inc. has 4 moat types across 3 domains; Booking Holdings Inc. has 5 across 4.

Primary market context

Airbnb, Inc.

Airbnb Marketplace

Market

Online marketplace for short-term accommodations and experiences

Geography

Global

Customer

Hosts (supply) and guests (demand)

Role

Marketplace / platform operator

Revenue share

100%

Booking Holdings Inc.

OTC online travel reservations (Booking.com, Priceline, Agoda)

Market

Online travel agency (OTA) reservation platforms

Geography

Global

Customer

Two-sided: travelers (B2C) and travel service providers (B2B)

Role

Intermediary / marketplace

Revenue share

95.5%

Side-by-side metrics

Airbnb, Inc.
Booking Holdings Inc.
Ticker / Exchange
ABNB - NASDAQ
BKNG - NASDAQ Global Select Market
Market cap (USD)
$75.6B
$143.7B
Gross margin (TTM)
83%
100%
Operating margin (TTM)
22.7%
32.7%
Net margin (TTM)
22%
19.4%
Sector
Consumer
Consumer
Industry
Travel Services
Travel Services
HQ country
US
US
Primary segment
Airbnb Marketplace
OTC online travel reservations (Booking.com, Priceline, Agoda)
Market structure
Competitive
Oligopoly
Market share
n/a
23%-31% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
69 / 100
77 / 100
Moat domains
Network, Demand, Financial
Network, Demand, Supply, Financial
Last update
2025-12-25
2025-12-25

Moat coverage

Shared moat types

Two Sided NetworkBrand TrustFloat Prepayment

Airbnb, Inc. strengths

Reputation Reviews

Booking Holdings Inc. strengths

Habit DefaultScope Economies

Segment mix

Airbnb, Inc. segments

Full profile >

Airbnb Marketplace

Competitive

100%

Booking Holdings Inc. segments

Full profile >

OTC online travel reservations (Booking.com, Priceline, Agoda)

Oligopoly

95.5%

Metasearch & restaurant reservations (KAYAK, OpenTable)

Competitive

4.5%

Want the full wide moat stocks list?

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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.