VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Amazon.com, Inc. vs Shopify Inc.

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

Amazon.com, Inc.

AMZN · NASDAQ

Market cap (USD)$2.7T
Gross margin (TTM)50.3%
Operating margin (TTM)11.2%
Net margin (TTM)10.8%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2025-12-29
Moat score
87/ 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 Amazon.com, Inc.'s moat claims, evidence, and risks.

View AMZN analysis

Shopify Inc.

SHOP · Nasdaq Global Select Market

Market cap (USD)$163.7B
Gross margin (TTM)48.1%
Operating margin (TTM)12.7%
Net margin (TTM)10.7%
SectorTechnology
IndustrySoftware - Application
CountryCA
Data as of2026-04-25
Moat score
73/ 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 Shopify Inc.'s moat claims, evidence, and risks.

View SHOP analysis

Comparison highlights

  • Moat score gap: Amazon.com, Inc. leads (87 / 100 vs 73 / 100 for Shopify Inc.).
  • Segment focus: Amazon.com, Inc. has 4 segments (73.5% in Amazon Stores (Retail, Marketplace, Prime Subscriptions)); Shopify Inc. has 2 segments (76.2% in Merchant Solutions).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Amazon.com, Inc. has 10 moat types across 4 domains; Shopify Inc. has 7 across 3.

Primary market context

Amazon.com, Inc.

Amazon Stores (Retail, Marketplace, Prime Subscriptions)

Market

US retail ecommerce marketplace and online retail (integrated fulfillment + membership shipping)

Geography

United States

Customer

Consumers and third-party merchants

Role

Marketplace operator, retailer, and fulfillment provider

Revenue share

73.5%

Shopify Inc.

Merchant Solutions

Market

Integrated merchant payments, checkout, lending, shipping, POS hardware, partner referrals, ads and buyer-acquisition services for Shopify merchants

Geography

Global, with Shopify Payments and related solutions available across selected countries

Customer

Shopify merchants, Shopify Plus merchants, retail operators and buyers using Shop Pay or Shop App

Role

Embedded payments, checkout, fintech, fulfillment-adjacent and commerce-services layer attached to Shopify storefronts

Revenue share

76.2%

Side-by-side metrics

Amazon.com, Inc.
Shopify Inc.
Ticker / Exchange
AMZN - NASDAQ
SHOP - Nasdaq Global Select Market
Market cap (USD)
$2.7T
$163.7B
Gross margin (TTM)
50.3%
48.1%
Operating margin (TTM)
11.2%
12.7%
Net margin (TTM)
10.8%
10.7%
Sector
Consumer
Technology
Industry
Specialty Retail
Software - Application
HQ country
US
CA
Primary segment
Amazon Stores (Retail, Marketplace, Prime Subscriptions)
Merchant Solutions
Market structure
Oligopoly
Competitive
Market share
39%-42% (estimated)
65.6% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
87 / 100
73 / 100
Moat domains
Supply, Demand, Network, Financial
Network, Demand, Supply
Last update
2025-12-29
2026-04-25

Moat coverage

Shared moat types

Suite BundlingHabit Default

Amazon.com, Inc. strengths

Capex Knowhow ScaleScope EconomiesLong Term ContractsTwo Sided NetworkPhysical Network DensityNegative Working CapitalDistribution ControlData Network Effects

Shopify Inc. strengths

Ecosystem ComplementsData Workflow LockinBrand TrustKeystone ComponentScale Economies Unit Cost

Segment mix

Amazon.com, Inc. segments

Full profile >

Amazon Web Services (AWS)

Oligopoly

16.9%

Amazon Stores (Retail, Marketplace, Prime Subscriptions)

Oligopoly

73.5%

Advertising Services (Amazon Ads / Retail Media)

Oligopoly

8.8%

Other (healthcare, content licensing/distribution, shipping services, co-branded credit card agreements, etc.)

Competitive

0.9%

Shopify Inc. segments

Full profile >

Subscription Solutions

Competitive

23.8%

Merchant Solutions

Competitive

76.2%

Want the full wide moat stocks list?

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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.