VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

Stock Comparison

Bilibili Inc. vs PDD Holdings Inc.

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

Bilibili Inc.

BILI · Nasdaq Global Select Market

Market cap (USD)$7.4B
Gross margin (TTM)36.8%
Operating margin (TTM)4.1%
Net margin (TTM)4.6%
SectorCommunication Services
IndustryElectronic Gaming & Multimedia
CountryKY
Data as of2026-05-01
Moat score
60/ 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 Bilibili Inc.'s moat claims, evidence, and risks.

View BILI analysis

PDD Holdings Inc.

PDD · NASDAQ

Market cap (USD)$122.6B
Gross margin (TTM)56.3%
Operating margin (TTM)21.6%
Net margin (TTM)22.7%
SectorConsumer
IndustrySpecialty Retail
CountryKY
Data as of2025-12-29
Moat score
44/ 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 PDD Holdings Inc.'s moat claims, evidence, and risks.

View PDD analysis

Comparison highlights

  • Moat score gap: Bilibili Inc. leads (60 / 100 vs 44 / 100 for PDD Holdings Inc.).
  • Segment focus: Bilibili Inc. has 4 segments (39.3% in Value-Added Services); PDD Holdings Inc. has 2 segments.
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Bilibili Inc. has 7 moat types across 4 domains; PDD Holdings Inc. has 4 across 4.

Primary market context

Bilibili Inc.

Value-Added Services

Market

China online video community VAS, live broadcasting, premium memberships, fan charging and premium content services

Geography

China

Customer

Video users, premium members, live-streaming users, fan communities, hosts and content creators

Role

Video community operator, creator monetization platform, premium-content distributor and live-broadcasting virtual-item platform

Revenue share

39.3%

PDD Holdings Inc.

Pinduoduo China marketplace

Market

China online retail marketplace (value-for-money focus)

Geography

China

Customer

Consumers & third-party merchants

Role

Online marketplace platform

Side-by-side metrics

Bilibili Inc.
PDD Holdings Inc.
Ticker / Exchange
BILI - Nasdaq Global Select Market
PDD - NASDAQ
Market cap (USD)
$7.4B
$122.6B
Gross margin (TTM)
36.8%
56.3%
Operating margin (TTM)
4.1%
21.6%
Net margin (TTM)
4.6%
22.7%
Sector
Communication Services
Consumer
Industry
Electronic Gaming & Multimedia
Specialty Retail
HQ country
KY
KY
Primary segment
Value-Added Services
Pinduoduo China marketplace
Market structure
Competitive
Oligopoly
Market share
33%-34% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
60 / 100
44 / 100
Moat domains
Network, Demand, Supply, Legal
Network, Supply, Financial, Legal
Last update
2026-05-01
2025-12-29

Moat coverage

Shared moat types

Two Sided Network

Bilibili Inc. strengths

Habit DefaultData Network EffectsDistribution ControlEcosystem ComplementsContent Rights CurrencyBrand Trust

PDD Holdings Inc. strengths

Scale Economies Unit CostFloat PrepaymentCompliance Advantage

Segment mix

Bilibili Inc. segments

Full profile >

Value-Added Services

Competitive

39.3%

Advertising

Competitive

33.1%

Mobile Games

Oligopoly

21.1%

IP Derivatives and Others

Competitive

6.5%

PDD Holdings Inc. segments

Full profile >

Pinduoduo China marketplace

Oligopoly

n/a

Temu international marketplace

Competitive

n/a

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.