VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Booking Holdings Inc. vs L3Harris Technologies, 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)$170.2B
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

L3Harris Technologies, Inc.

LHX · NYSE

Market cap (USD)$55.9B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryUS
Data as of2026-01-02
Moat score
72/ 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 L3Harris Technologies, Inc.'s moat claims, evidence, and risks.

View LHX analysis

Comparison highlights

  • Moat score gap: Booking Holdings Inc. leads (77 / 100 vs 72 / 100 for L3Harris Technologies, Inc.).
  • Segment focus: Booking Holdings Inc. has 2 segments (95.5% in OTC online travel reservations (Booking.com, Priceline, Agoda)); L3Harris Technologies, Inc. has 4 segments (31.9% in Space & Airborne Systems).
  • Moat breadth: Booking Holdings Inc. has 5 moat types across 4 domains; L3Harris Technologies, Inc. has 8 across 3.

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%

L3Harris Technologies, Inc.

Space & Airborne Systems

Market

Defense & intelligence space and airborne mission systems (payloads, sensors, avionics, mission networks)

Geography

Global (U.S.-centric demand)

Customer

Government defense/intelligence agencies, prime contractors, and allied governments

Role

Prime contractor / subsystem integrator

Revenue share

31.9%

Side-by-side metrics

Booking Holdings Inc.
L3Harris Technologies, Inc.
Ticker / Exchange
BKNG - NASDAQ Global Select Market
LHX - NYSE
Market cap (USD)
$170.2B
$55.9B
Gross margin (TTM)
100%
n/a
Operating margin (TTM)
32.7%
n/a
Net margin (TTM)
19.4%
n/a
Sector
Consumer
Industrials
Industry
Travel Services
n/a
HQ country
US
US
Primary segment
OTC online travel reservations (Booking.com, Priceline, Agoda)
Space & Airborne Systems
Market structure
Oligopoly
Oligopoly
Market share
23%-31% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
77 / 100
72 / 100
Moat domains
Network, Demand, Supply, Financial
Legal, Demand, Supply
Last update
2025-12-25
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Booking Holdings Inc. strengths

Two Sided NetworkBrand TrustHabit DefaultScope EconomiesFloat Prepayment

L3Harris Technologies, Inc. strengths

Government Contracting RelationshipsDesign In QualificationCompliance AdvantageSwitching Costs GeneralCapex Knowhow ScaleProcurement InertiaCapacity MoatKeystone Component

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%

L3Harris Technologies, Inc. segments

Full profile >

Space & Airborne Systems

Oligopoly

31.9%

Integrated Mission Systems

Oligopoly

31.8%

Communication Systems

Oligopoly

25.4%

Aerojet Rocketdyne

Duopoly

10.9%

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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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.