VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Booking Holdings Inc. vs UnitedHealth Group Incorporated

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

UnitedHealth Group Incorporated

UNH · New York Stock Exchange

Market cap (USD)$123.8B
SectorHealthcare
CountryUS
Data as of2025-12-31
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 UnitedHealth Group Incorporated's moat claims, evidence, and risks.

View UNH analysis

Comparison highlights

  • Moat score gap: Booking Holdings Inc. leads (77 / 100 vs 64 / 100 for UnitedHealth Group Incorporated).
  • Segment focus: Booking Holdings Inc. has 2 segments (95.5% in OTC online travel reservations (Booking.com, Priceline, Agoda)); UnitedHealth Group Incorporated has 4 segments (74.9% in UnitedHealthcare).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Weak.
  • Moat breadth: Booking Holdings Inc. has 5 moat types across 4 domains; UnitedHealth Group Incorporated has 5 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%

UnitedHealth Group Incorporated

UnitedHealthcare

Market

U.S. health benefits / managed care (commercial, Medicare Advantage, Medicaid managed care)

Geography

United States (primarily)

Customer

Employers, individuals, and government-sponsored programs

Role

Health insurer / managed care organization

Revenue share

74.9%

Side-by-side metrics

Booking Holdings Inc.
UnitedHealth Group Incorporated
Ticker / Exchange
BKNG - NASDAQ Global Select Market
UNH - New York Stock Exchange
Market cap (USD)
$175.6B
$123.8B
Sector
Consumer
Healthcare
HQ country
US
US
Primary segment
OTC online travel reservations (Booking.com, Priceline, Agoda)
UnitedHealthcare
Market structure
Oligopoly
Oligopoly
Market share
23%-31% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
77 / 100
64 / 100
Moat domains
Network, Demand, Supply, Financial
Supply, Demand
Last update
2025-12-25
2025-12-31

Moat coverage

Shared moat types

No overlap yet.

Booking Holdings Inc. strengths

Two Sided NetworkBrand TrustHabit DefaultScope EconomiesFloat Prepayment

UnitedHealth Group Incorporated strengths

Scale Economies Unit CostSuite BundlingOperational ExcellenceData Workflow LockinTraining Org Change Costs

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%

UnitedHealth Group Incorporated segments

Full profile >

UnitedHealthcare

Oligopoly

74.9%

Optum Health

Competitive

9.9%

Optum Insight

Competitive

1.7%

Optum Rx

Oligopoly

13.5%

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

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.