VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

BJ's Wholesale Club Holdings, Inc. vs Bentley Systems, Incorporated

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

BJ's Wholesale Club Holdings, Inc.

BJ · New York Stock Exchange

Market cap (USD)$11.9B
Gross margin (TTM)18.6%
Operating margin (TTM)3.9%
Net margin (TTM)2.7%
SectorConsumer
IndustryDiscount Stores
CountryUS
Data as of2026-01-06
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 BJ's Wholesale Club Holdings, Inc.'s moat claims, evidence, and risks.

View BJ analysis

Bentley Systems, Incorporated

BSY · NASDAQ

Market cap (USD)$12.5B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryUS
Data as of2026-01-10
Moat score
64/ 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 Bentley Systems, Incorporated's moat claims, evidence, and risks.

View BSY analysis

Comparison highlights

  • Moat score gap: Bentley Systems, Incorporated leads (64 / 100 vs 60 / 100 for BJ's Wholesale Club Holdings, Inc.).
  • Segment focus: BJ's Wholesale Club Holdings, Inc. has 2 segments (97.8% in Merchandise and Gasoline Sales); Bentley Systems, Incorporated has 4 segments.
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: BJ's Wholesale Club Holdings, Inc. has 7 moat types across 3 domains; Bentley Systems, Incorporated has 7 across 2.

Primary market context

BJ's Wholesale Club Holdings, Inc.

Merchandise and Gasoline Sales

Market

Membership warehouse club retail (groceries, fresh foods, general merchandise, gasoline, ancillary services)

Geography

United States (primarily Eastern U.S.)

Customer

Households and small businesses (members)

Role

Retailer / warehouse club operator

Revenue share

97.8%

Bentley Systems, Incorporated

Engineering Applications (Bentley Open)

Market

Infrastructure engineering design and simulation software (CAD/BIM for civil, rail, water, plants, and facilities)

Geography

Global

Customer

Engineering and construction firms; public and private infrastructure owner-operators

Role

Engineering authoring + analysis software vendor

Side-by-side metrics

BJ's Wholesale Club Holdings, Inc.
Bentley Systems, Incorporated
Ticker / Exchange
BJ - New York Stock Exchange
BSY - NASDAQ
Market cap (USD)
$11.9B
$12.5B
Gross margin (TTM)
18.6%
n/a
Operating margin (TTM)
3.9%
n/a
Net margin (TTM)
2.7%
n/a
Sector
Consumer
Technology
Industry
Discount Stores
n/a
HQ country
US
US
Primary segment
Merchandise and Gasoline Sales
Engineering Applications (Bentley Open)
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
60 / 100
64 / 100
Moat domains
Supply, Financial, Demand
Demand, Network
Last update
2026-01-06
2026-01-10

Moat coverage

Shared moat types

No overlap yet.

BJ's Wholesale Club Holdings, Inc. strengths

Scale Economies Unit CostSupply Chain ControlPhysical Network DensityNegative Working CapitalBrand TrustFloat PrepaymentHabit Default

Bentley Systems, Incorporated strengths

Training Org Change CostsSuite BundlingInteroperability HubData Workflow LockinProcurement InertiaDe Facto StandardEcosystem Complements

Segment mix

BJ's Wholesale Club Holdings, Inc. segments

Full profile >

Merchandise and Gasoline Sales

Oligopoly

97.8%

Membership Fee Income

Oligopoly

2.2%

Bentley Systems, Incorporated segments

Full profile >

Engineering Applications (Bentley Open)

Oligopoly

n/a

Geoprofessional Applications (Seequent)

Oligopoly

n/a

Bentley Infrastructure Cloud (ProjectWise, SYNCHRO, AssetWise)

Oligopoly

n/a

Digital Twin Platform & Asset Analytics (Cesium, iTwin, Asset Analytics)

Competitive

n/a

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.