VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Airbnb, Inc. vs PDD 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)$76.7B
Gross margin (TTM)83%
Operating margin (TTM)20.8%
Net margin (TTM)20.5%
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

PDD Holdings Inc.

PDD · NASDAQ

Market cap (USD)$146.8B
Gross margin (TTM)56.7%
Operating margin (TTM)22.1%
Net margin (TTM)24.4%
SectorConsumer
IndustrySpecialty Retail
CountryKY
Data as of2025-12-29
Moat score
44/ 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 PDD Holdings Inc.'s moat claims, evidence, and risks.

View PDD analysis

Comparison highlights

  • Moat score gap: Airbnb, Inc. leads (69 / 100 vs 44 / 100 for PDD Holdings Inc.).
  • Segment focus: Airbnb, Inc. has 1 segment (100% in Airbnb Marketplace); PDD Holdings Inc. has 2 segments.
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Airbnb, Inc. has 4 moat types across 3 domains; PDD Holdings Inc. has 4 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%

PDD Holdings Inc.

Pinduoduo China marketplace

Market

China online retail marketplace (value-for-money focus)

Geography

China

Customer

Consumers & third-party merchants

Role

Online marketplace platform

Side-by-side metrics

Airbnb, Inc.
PDD Holdings Inc.
Ticker / Exchange
ABNB - NASDAQ
PDD - NASDAQ
Market cap (USD)
$76.7B
$146.8B
Gross margin (TTM)
83%
56.7%
Operating margin (TTM)
20.8%
22.1%
Net margin (TTM)
20.5%
24.4%
Sector
Consumer
Consumer
Industry
Travel Services
Specialty Retail
HQ country
US
KY
Primary segment
Airbnb Marketplace
Pinduoduo China marketplace
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
69 / 100
44 / 100
Moat domains
Network, Demand, Financial
Network, Supply, Financial, Legal
Last update
2025-12-25
2025-12-29

Moat coverage

Shared moat types

Two Sided NetworkFloat Prepayment

Airbnb, Inc. strengths

Reputation ReviewsBrand Trust

PDD Holdings Inc. strengths

Scale Economies Unit CostCompliance Advantage

Segment mix

Airbnb, Inc. segments

Full profile >

Airbnb Marketplace

Competitive

100%

PDD Holdings Inc. segments

Full profile >

Pinduoduo China marketplace

Oligopoly

n/a

Temu international marketplace

Competitive

n/a

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

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.