VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Broadridge Financial Solutions, Inc. vs Ulta Beauty, Inc.

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

Broadridge Financial Solutions, Inc.

BR · New York Stock Exchange

Market cap (USD)$26.1B
Gross margin (TTM)31.3%
Operating margin (TTM)17.6%
Net margin (TTM)13.1%
SectorTechnology
IndustrySoftware - Services
CountryUS
Data as of2025-12-26
Moat score
91/ 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 Broadridge Financial Solutions, Inc.'s moat claims, evidence, and risks.

View BR analysis

Ulta Beauty, Inc.

ULTA · NASDAQ

Market cap (USD)$29.9B
Gross margin (TTM)39.2%
Operating margin (TTM)13.2%
Net margin (TTM)9.9%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2026-01-06
Moat score
58/ 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 Ulta Beauty, Inc.'s moat claims, evidence, and risks.

View ULTA analysis

Comparison highlights

  • Moat score gap: Broadridge Financial Solutions, Inc. leads (91 / 100 vs 58 / 100 for Ulta Beauty, Inc.).
  • Segment focus: Broadridge Financial Solutions, Inc. has 2 segments (74.2% in Investor Communication Solutions); Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail).
  • Primary market structure: Quasi-Monopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Broadridge Financial Solutions, Inc. has 5 moat types across 4 domains; Ulta Beauty, Inc. has 8 across 5.

Primary market context

Broadridge Financial Solutions, Inc.

Investor Communication Solutions

Market

Proxy distribution, vote processing, and regulatory investor communications

Geography

Primarily United States (with select international services)

Customer

Public companies, mutual funds, banks and broker-dealers, asset managers

Role

Outsourced intermediary for shareholder communications and proxy voting workflows

Revenue share

74.2%

Ulta Beauty, Inc.

Beauty Products Retail

Market

U.S. beauty products retail (specialty omnichannel beauty retailer)

Geography

United States

Customer

Consumers (end-users) shopping in-store and online

Role

Specialty retailer / distributor

Revenue share

94%

Side-by-side metrics

Broadridge Financial Solutions, Inc.
Ulta Beauty, Inc.
Ticker / Exchange
BR - New York Stock Exchange
ULTA - NASDAQ
Market cap (USD)
$26.1B
$29.9B
Gross margin (TTM)
31.3%
39.2%
Operating margin (TTM)
17.6%
13.2%
Net margin (TTM)
13.1%
9.9%
Sector
Technology
Consumer
Industry
Software - Services
Specialty Retail
HQ country
US
US
Primary segment
Investor Communication Solutions
Beauty Products Retail
Market structure
Quasi-Monopoly
Competitive
Market share
85%-95% (estimated)
8%-10% (reported)
HHI estimate
8,200
n/a
Pricing power
Moderate
Moderate
Moat score
91 / 100
58 / 100
Moat domains
Legal, Supply, Network, Demand
Demand, Supply, Legal, Network, Financial
Last update
2025-12-26
2026-01-06

Moat coverage

Shared moat types

Two Sided NetworkSwitching Costs General

Broadridge Financial Solutions, Inc. strengths

Regulated Standards PipeScale Economies Unit CostInteroperability Hub

Ulta Beauty, Inc. strengths

Physical Network DensityContractual ExclusivityPreferential Input AccessSuite BundlingData Network EffectsFloat Prepayment

Segment mix

Broadridge Financial Solutions, Inc. segments

Full profile >

Investor Communication Solutions

Quasi-Monopoly

74.2%

Global Technology and Operations

Oligopoly

25.8%

Ulta Beauty, Inc. segments

Full profile >

Beauty Products Retail

Competitive

94%

Beauty Services

Competitive

4%

Platform Monetization (Retail Media, Credit Cards, Partner Royalties, Deferred Revenue)

Competitive

2%

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.