VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Adobe Inc. vs DLocal Limited

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

Adobe Inc.

ADBE · NASDAQ

Market cap (USD)$108.3B
Gross margin (TTM)89.1%
Operating margin (TTM)36.6%
Net margin (TTM)30%
SectorTechnology
IndustrySoftware - Infrastructure
CountryUS
Data as of2025-12-22
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 Adobe Inc.'s moat claims, evidence, and risks.

View ADBE analysis

DLocal Limited

DLO · Nasdaq Global Select Market

Market cap (USD)$3.9B
Gross margin (TTM)38.6%
Operating margin (TTM)20.8%
Net margin (TTM)17.8%
SectorTechnology
IndustrySoftware - Infrastructure
CountryUY
Data as of2025-12-27
Moat score
53/ 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 DLocal Limited's moat claims, evidence, and risks.

View DLO analysis

Comparison highlights

  • Moat score gap: Adobe Inc. leads (68 / 100 vs 53 / 100 for DLocal Limited).
  • Segment focus: Adobe Inc. has 3 segments (74.3% in Digital Media); DLocal Limited has 1 segment.
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: Adobe Inc. has 4 moat types across 2 domains; DLocal Limited has 4 across 3.

Primary market context

Adobe Inc.

Digital Media

Market

Creative content creation and document productivity software subscriptions

Geography

Global

Customer

Individuals, SMB, enterprise

Role

Software platform

Revenue share

74.3%

DLocal Limited

Payment processing platform (Pay-ins & Pay-outs)

Market

Cross-border payment processing for global merchants in emerging markets

Geography

Global; emerging markets focus (Africa, Asia, Latin America, Middle East)

Customer

Enterprise merchants and platforms

Role

Payment service provider / processor

Side-by-side metrics

Adobe Inc.
DLocal Limited
Ticker / Exchange
ADBE - NASDAQ
DLO - Nasdaq Global Select Market
Market cap (USD)
$108.3B
$3.9B
Gross margin (TTM)
89.1%
38.6%
Operating margin (TTM)
36.6%
20.8%
Net margin (TTM)
30%
17.8%
Sector
Technology
Technology
Industry
Software - Infrastructure
Software - Infrastructure
HQ country
US
UY
Primary segment
Digital Media
Payment processing platform (Pay-ins & Pay-outs)
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
68 / 100
53 / 100
Moat domains
Demand, Network
Supply, Legal, Demand
Last update
2025-12-22
2025-12-27

Moat coverage

Shared moat types

No overlap yet.

Adobe Inc. strengths

Suite BundlingEcosystem ComplementsDe Facto StandardData Workflow Lockin

DLocal Limited strengths

Capex Knowhow ScaleCompliance AdvantageSwitching Costs GeneralOperational Excellence

Segment mix

Adobe Inc. segments

Full profile >

Digital Media

Oligopoly

74.3%

Digital Experience

Competitive

24.7%

Publishing and Advertising

Competitive

1.1%

DLocal Limited segments

Full profile >

Payment processing platform (Pay-ins & Pay-outs)

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.