VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Booking Holdings Inc. vs Celsius Holdings, Inc.

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

Booking Holdings Inc.

BKNG · NASDAQ Global Select Market

Market cap (USD)$173B
Gross margin (TTM)100%
Operating margin (TTM)32.7%
Net margin (TTM)19.4%
SectorConsumer
IndustryTravel Services
CountryUS
Data as of2025-12-25
Moat score
77/ 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 Booking Holdings Inc.'s moat claims, evidence, and risks.

View BKNG analysis

Celsius Holdings, Inc.

CELH · NASDAQ

Market cap (USD)$12.4B
Gross margin (TTM)51.4%
Operating margin (TTM)4.5%
Net margin (TTM)3%
SectorConsumer
IndustryBeverages - Non-Alcoholic
CountryUS
Data as of2026-01-05
Moat score
57/ 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 Celsius Holdings, Inc.'s moat claims, evidence, and risks.

View CELH analysis

Comparison highlights

  • Moat score gap: Booking Holdings Inc. leads (77 / 100 vs 57 / 100 for Celsius Holdings, Inc.).
  • Segment focus: Booking Holdings Inc. has 2 segments (95.5% in OTC online travel reservations (Booking.com, Priceline, Agoda)); Celsius Holdings, Inc. has 1 segment (100% in Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)).
  • Moat breadth: Booking Holdings Inc. has 5 moat types across 4 domains; Celsius Holdings, Inc. has 3 across 2.

Primary market context

Booking Holdings Inc.

OTC online travel reservations (Booking.com, Priceline, Agoda)

Market

Online travel agency (OTA) reservation platforms

Geography

Global

Customer

Two-sided: travelers (B2C) and travel service providers (B2B)

Role

Intermediary / marketplace

Revenue share

95.5%

Celsius Holdings, Inc.

Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)

Market

Energy drinks (functional/better-for-you positioning) and adjacent wellness products

Geography

Primarily North America; growing international presence

Customer

Consumers via retail and e-commerce channels; sold through distributor/retail channels

Role

Brand owner / product developer; uses third-party manufacturing and third-party distribution

Revenue share

100%

Side-by-side metrics

Booking Holdings Inc.
Celsius Holdings, Inc.
Ticker / Exchange
BKNG - NASDAQ Global Select Market
CELH - NASDAQ
Market cap (USD)
$173B
$12.4B
Gross margin (TTM)
100%
51.4%
Operating margin (TTM)
32.7%
4.5%
Net margin (TTM)
19.4%
3%
Sector
Consumer
Consumer
Industry
Travel Services
Beverages - Non-Alcoholic
HQ country
US
US
Primary segment
OTC online travel reservations (Booking.com, Priceline, Agoda)
Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)
Market structure
Oligopoly
Oligopoly
Market share
23%-31% (implied)
16%-16.4% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
77 / 100
57 / 100
Moat domains
Network, Demand, Supply, Financial
Supply, Demand
Last update
2025-12-25
2026-01-05

Moat coverage

Shared moat types

Brand TrustScope Economies

Booking Holdings Inc. strengths

Two Sided NetworkHabit DefaultFloat Prepayment

Celsius Holdings, Inc. strengths

Distribution Control

Segment mix

Booking Holdings Inc. segments

Full profile >

OTC online travel reservations (Booking.com, Priceline, Agoda)

Oligopoly

95.5%

Metasearch & restaurant reservations (KAYAK, OpenTable)

Competitive

4.5%

Celsius Holdings, Inc. segments

Full profile >

Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)

Oligopoly

100%

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.