VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Booking Holdings Inc. vs Novo Nordisk A/S

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)$175.6B
SectorConsumer
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

Novo Nordisk A/S

NOVOB · Nasdaq Copenhagen

Market cap (USD)$232.3B
SectorHealthcare
CountryDK
Data as of2025-12-28
Moat score
85/ 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 Novo Nordisk A/S's moat claims, evidence, and risks.

View NOVOB analysis

Comparison highlights

  • Moat score gap: Novo Nordisk A/S leads (85 / 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)); Novo Nordisk A/S has 3 segments (71.1% in Diabetes care).
  • Moat breadth: Booking Holdings Inc. has 5 moat types across 4 domains; Novo Nordisk A/S has 5 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%

Novo Nordisk A/S

Diabetes care

Market

Diabetes pharmaceuticals (GLP-1 for type 2 diabetes, insulin, and related therapies)

Geography

Global

Customer

Payers/providers and patients (via wholesalers/pharmacies/hospitals)

Role

Originator pharma (R&D, regulatory, manufacturing, commercialization)

Revenue share

71.1%

Side-by-side metrics

Booking Holdings Inc.
Novo Nordisk A/S
Ticker / Exchange
BKNG - NASDAQ Global Select Market
NOVOB - Nasdaq Copenhagen
Market cap (USD)
$175.6B
$232.3B
Sector
Consumer
Healthcare
HQ country
US
DK
Primary segment
OTC online travel reservations (Booking.com, Priceline, Agoda)
Diabetes care
Market structure
Oligopoly
Oligopoly
Market share
23%-31% (implied)
33.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
77 / 100
85 / 100
Moat domains
Network, Demand, Supply, Financial
Legal, Supply, Demand
Last update
2025-12-25
2025-12-28

Moat coverage

Shared moat types

Brand Trust

Booking Holdings Inc. strengths

Two Sided NetworkHabit DefaultScope EconomiesFloat Prepayment

Novo Nordisk A/S strengths

IP Choke PointRegulated Standards PipeCapacity MoatLearning Curve Yield

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%

Novo Nordisk A/S segments

Full profile >

Diabetes care

Oligopoly

71.1%

Obesity care

Duopoly

22.4%

Rare disease

Oligopoly

6.4%

Want the full wide moat stocks list?

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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.