VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

reAlpha Tech Corp. vs Ulta Beauty, Inc.

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

reAlpha Tech Corp.

AIRE · Nasdaq Capital Market

Market cap (USD)$24.8M
Gross margin (TTM)54.3%
Operating margin (TTM)-346%
Net margin (TTM)-813.9%
SectorReal Estate
IndustryReal Estate - Services
CountryUS
Data as of2026-01-02
Moat score
42/ 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 reAlpha Tech Corp.'s moat claims, evidence, and risks.

View AIRE analysis

Ulta Beauty, Inc.

ULTA · NASDAQ

Market cap (USD)$29.9B
Gross margin (TTM)39.2%
Operating margin (TTM)13.2%
Net margin (TTM)9.9%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2026-01-06
Moat score
58/ 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 Ulta Beauty, Inc.'s moat claims, evidence, and risks.

View ULTA analysis

Comparison highlights

  • Moat score gap: Ulta Beauty, Inc. leads (58 / 100 vs 42 / 100 for reAlpha Tech Corp.).
  • Segment focus: reAlpha Tech Corp. has 2 segments (83.5% in Homebuying Platform & Transaction Services); Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail).
  • Primary market structure: Competitive vs Competitive. Pricing power: Weak vs Moderate.
  • Moat breadth: reAlpha Tech Corp. has 4 moat types across 2 domains; Ulta Beauty, Inc. has 8 across 5.

Primary market context

reAlpha Tech Corp.

Homebuying Platform & Transaction Services

Market

Integrated U.S. residential real estate transaction services platform (brokerage + mortgage + title)

Geography

United States

Customer

Homebuyers

Role

Transaction intermediary / service provider

Revenue share

83.5%

Ulta Beauty, Inc.

Beauty Products Retail

Market

U.S. beauty products retail (specialty omnichannel beauty retailer)

Geography

United States

Customer

Consumers (end-users) shopping in-store and online

Role

Specialty retailer / distributor

Revenue share

94%

Side-by-side metrics

reAlpha Tech Corp.
Ulta Beauty, Inc.
Ticker / Exchange
AIRE - Nasdaq Capital Market
ULTA - NASDAQ
Market cap (USD)
$24.8M
$29.9B
Gross margin (TTM)
54.3%
39.2%
Operating margin (TTM)
-346%
13.2%
Net margin (TTM)
-813.9%
9.9%
Sector
Real Estate
Consumer
Industry
Real Estate - Services
Specialty Retail
HQ country
US
US
Primary segment
Homebuying Platform & Transaction Services
Beauty Products Retail
Market structure
Competitive
Competitive
Market share
n/a
8%-10% (reported)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
42 / 100
58 / 100
Moat domains
Demand, Legal
Demand, Supply, Legal, Network, Financial
Last update
2026-01-02
2026-01-06

Moat coverage

Shared moat types

Suite BundlingSwitching Costs General

reAlpha Tech Corp. strengths

Data Workflow LockinCompliance Advantage

Ulta Beauty, Inc. strengths

Physical Network DensityContractual ExclusivityPreferential Input AccessData Network EffectsTwo Sided NetworkFloat Prepayment

Segment mix

reAlpha Tech Corp. segments

Full profile >

Homebuying Platform & Transaction Services

Competitive

83.5%

AiChat Conversational AI SaaS

Competitive

16.5%

Ulta Beauty, Inc. segments

Full profile >

Beauty Products Retail

Competitive

94%

Beauty Services

Competitive

4%

Platform Monetization (Retail Media, Credit Cards, Partner Royalties, Deferred Revenue)

Competitive

2%

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.