VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Amgen Inc. vs Duolingo, Inc.

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

Amgen Inc.

AMGN · Nasdaq Stock Market

Market cap (USD)$172.7B
Gross margin (TTM)66.2%
Operating margin (TTM)24.1%
Net margin (TTM)19.5%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryUS
Data as of2025-12-22
Moat score
70/ 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 Amgen Inc.'s moat claims, evidence, and risks.

View AMGN analysis

Duolingo, Inc.

DUOL · NASDAQ

Market cap (USD)$8.6B
Gross margin (TTM)72%
Operating margin (TTM)11%
Net margin (TTM)40%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2026-01-06
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 Duolingo, Inc.'s moat claims, evidence, and risks.

View DUOL analysis

Comparison highlights

  • Moat score gap: Amgen Inc. leads (70 / 100 vs 68 / 100 for Duolingo, Inc.).
  • Segment focus: Amgen Inc. has 3 segments (80.1% in Core Innovative Medicines); Duolingo, Inc. has 2 segments (93.9% in Duolingo App).
  • Moat breadth: Amgen Inc. has 5 moat types across 3 domains; Duolingo, Inc. has 6 across 3.

Primary market context

Amgen Inc.

Core Innovative Medicines

Market

Branded biopharmaceutical therapies for common diseases (bone health, inflammation, oncology, cardiovascular and other specialty areas)

Geography

Global

Customer

Payers, providers, and pharmacies

Role

Drug developer/manufacturer

Revenue share

80.1%

Duolingo, Inc.

Duolingo App

Market

Mobile-first, freemium language learning and adjacent subjects (math, music)

Geography

Global

Customer

Consumers (end-users); advertisers

Role

Digital learning platform / content & software publisher

Revenue share

93.9%

Side-by-side metrics

Amgen Inc.
Duolingo, Inc.
Ticker / Exchange
AMGN - Nasdaq Stock Market
DUOL - NASDAQ
Market cap (USD)
$172.7B
$8.6B
Gross margin (TTM)
66.2%
72%
Operating margin (TTM)
24.1%
11%
Net margin (TTM)
19.5%
40%
Sector
Healthcare
Technology
Industry
Drug Manufacturers - General
Software - Application
HQ country
US
US
Primary segment
Core Innovative Medicines
Duolingo App
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
70 / 100
68 / 100
Moat domains
Legal, Supply, Demand
Network, Demand, Supply
Last update
2025-12-22
2026-01-06

Moat coverage

Shared moat types

Brand Trust

Amgen Inc. strengths

IP Choke PointRegulated Standards PipeCapex Knowhow ScaleLearning Curve Yield

Duolingo, Inc. strengths

Data Network EffectsHabit DefaultScope EconomiesDesign In QualificationOperational Excellence

Segment mix

Amgen Inc. segments

Full profile >

Core Innovative Medicines

Competitive

80.1%

Rare Disease Portfolio (Horizon + others)

Quasi-Monopoly

13.3%

Biosimilars

Oligopoly

6.6%

Duolingo, Inc. segments

Full profile >

Duolingo App

Competitive

93.9%

Duolingo English Test

Oligopoly

6.1%

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.