VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Stock Comparison

Booking Holdings Inc. vs Alphabet 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)$131.4B
Gross margin (TTM)99.3%
Operating margin (TTM)32.9%
Net margin (TTM)20.1%
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

Alphabet Inc.

GOOGL · The Nasdaq Stock Market

Market cap (USD)$3.8T
Gross margin (TTM)59.7%
Operating margin (TTM)32%
Net margin (TTM)32.8%
SectorCommunication Services
IndustryInternet Content & Information
CountryUS
Data as of2025-12-21
Moat score
86/ 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 Alphabet Inc.'s moat claims, evidence, and risks.

View GOOGL analysis

Comparison highlights

  • Moat score gap: Alphabet Inc. leads (86 / 100 vs 77 / 100 for Booking Holdings Inc.).
  • Segment focus: Booking Holdings Inc. has 2 segments (95.5% in OTC online travel reservations (Booking.com, Priceline, Agoda)); Alphabet Inc. has 6 segments (56.6% in Google Search & other (Advertising)).
  • Primary market structure: Oligopoly vs Quasi-Monopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Booking Holdings Inc. has 5 moat types across 4 domains; Alphabet Inc. has 10 across 4.

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%

Alphabet Inc.

Google Search & other (Advertising)

Market

Search advertising (intent-based digital ads)

Geography

Global

Customer

Advertisers (SMB to enterprise)

Role

Ad platform / publisher

Revenue share

56.6%

Side-by-side metrics

Booking Holdings Inc.
Alphabet Inc.
Ticker / Exchange
BKNG - NASDAQ Global Select Market
GOOGL - The Nasdaq Stock Market
Market cap (USD)
$131.4B
$3.8T
Gross margin (TTM)
99.3%
59.7%
Operating margin (TTM)
32.9%
32%
Net margin (TTM)
20.1%
32.8%
Sector
Consumer
Communication Services
Industry
Travel Services
Internet Content & Information
HQ country
US
US
Primary segment
OTC online travel reservations (Booking.com, Priceline, Agoda)
Google Search & other (Advertising)
Market structure
Oligopoly
Quasi-Monopoly
Market share
23%-31% (implied)
88%-91% (reported)
HHI estimate
n/a
8,115
Pricing power
Moderate
Strong
Moat score
77 / 100
86 / 100
Moat domains
Network, Demand, Supply, Financial
Network, Demand, Legal, Supply
Last update
2025-12-25
2025-12-21

Moat coverage

Shared moat types

Two Sided NetworkHabit Default

Booking Holdings Inc. strengths

Brand TrustScope EconomiesFloat Prepayment

Alphabet Inc. strengths

Data Network EffectsContent Rights CurrencyOperational ExcellenceDefault OS GatewaySwitching Costs GeneralCapex Knowhow ScaleEcosystem ComplementsIncubation & patient capital

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%

Alphabet Inc. segments

Full profile >

Google Search & other (Advertising)

Quasi-Monopoly

56.6%

YouTube (Advertising)

Oligopoly

10.3%

Google Network (Advertising)

Competitive

8.7%

Google Subscriptions, Platforms & Devices

Quasi-Monopoly

11.5%

Google Cloud

Oligopoly

12.4%

Other Bets

Competitive

0.5%

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.