VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Stock Comparison

Adobe Inc. vs Alphabet Inc.

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

Alphabet Inc.

GOOGL · The Nasdaq Stock Market

Market cap (USD)$3.8T
Gross margin (TTM)59.7%
Operating margin (TTM)32%
Net margin (TTM)32.8%
SectorCommunication Services
IndustryInternet Content & Information
CountryUS
Data as of2025-12-21
Moat score
86/ 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 Alphabet Inc.'s moat claims, evidence, and risks.

View GOOGL analysis

Comparison highlights

  • Moat score gap: Alphabet Inc. leads (86 / 100 vs 68 / 100 for Adobe Inc.).
  • Segment focus: Adobe Inc. has 3 segments (74.3% in Digital Media); Alphabet Inc. has 6 segments (56.6% in Google Search & other (Advertising)).
  • Primary market structure: Oligopoly vs Quasi-Monopoly. Pricing power: Strong vs Strong.
  • Moat breadth: Adobe Inc. has 4 moat types across 2 domains; Alphabet Inc. has 10 across 4.

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%

Alphabet Inc.

Google Search & other (Advertising)

Market

Search advertising (intent-based digital ads)

Geography

Global

Customer

Advertisers (SMB to enterprise)

Role

Ad platform / publisher

Revenue share

56.6%

Side-by-side metrics

Adobe Inc.
Alphabet Inc.
Ticker / Exchange
ADBE - NASDAQ
GOOGL - The Nasdaq Stock Market
Market cap (USD)
$108.3B
$3.8T
Gross margin (TTM)
89.1%
59.7%
Operating margin (TTM)
36.6%
32%
Net margin (TTM)
30%
32.8%
Sector
Technology
Communication Services
Industry
Software - Infrastructure
Internet Content & Information
HQ country
US
US
Primary segment
Digital Media
Google Search & other (Advertising)
Market structure
Oligopoly
Quasi-Monopoly
Market share
n/a
88%-91% (reported)
HHI estimate
n/a
8,115
Pricing power
Strong
Strong
Moat score
68 / 100
86 / 100
Moat domains
Demand, Network
Network, Demand, Legal, Supply
Last update
2025-12-22
2025-12-21

Moat coverage

Shared moat types

Ecosystem Complements

Adobe Inc. strengths

Suite BundlingDe Facto StandardData Workflow Lockin

Alphabet Inc. strengths

Data Network EffectsHabit DefaultTwo Sided NetworkContent Rights CurrencyOperational ExcellenceDefault OS GatewaySwitching Costs GeneralCapex Knowhow ScaleIncubation & patient capital

Segment mix

Adobe Inc. segments

Full profile >

Digital Media

Oligopoly

74.3%

Digital Experience

Competitive

24.7%

Publishing and Advertising

Competitive

1.1%

Alphabet Inc. segments

Full profile >

Google Search & other (Advertising)

Quasi-Monopoly

56.6%

YouTube (Advertising)

Oligopoly

10.3%

Google Network (Advertising)

Competitive

8.7%

Google Subscriptions, Platforms & Devices

Quasi-Monopoly

11.5%

Google Cloud

Oligopoly

12.4%

Other Bets

Competitive

0.5%

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.

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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.