VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Celsius Holdings, Inc. vs DLocal Limited

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

Celsius Holdings, Inc.

CELH · NASDAQ

Market cap (USD)$12.4B
Gross margin (TTM)51.4%
Operating margin (TTM)4.5%
Net margin (TTM)3%
SectorConsumer
IndustryBeverages - Non-Alcoholic
CountryUS
Data as of2026-01-05
Moat score
57/ 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 Celsius Holdings, Inc.'s moat claims, evidence, and risks.

View CELH analysis

DLocal Limited

DLO · Nasdaq Global Select Market

Market cap (USD)$4.3B
Gross margin (TTM)38.6%
Operating margin (TTM)20.8%
Net margin (TTM)17.8%
SectorTechnology
IndustrySoftware - Infrastructure
CountryUY
Data as of2025-12-27
Moat score
53/ 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 DLocal Limited's moat claims, evidence, and risks.

View DLO analysis

Comparison highlights

  • Moat score gap: Celsius Holdings, Inc. leads (57 / 100 vs 53 / 100 for DLocal Limited).
  • Segment focus: Celsius Holdings, Inc. has 1 segment (100% in Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)); DLocal Limited has 1 segment.
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Celsius Holdings, Inc. has 3 moat types across 2 domains; DLocal Limited has 4 across 3.

Primary market context

Celsius Holdings, Inc.

Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)

Market

Energy drinks (functional/better-for-you positioning) and adjacent wellness products

Geography

Primarily North America; growing international presence

Customer

Consumers via retail and e-commerce channels; sold through distributor/retail channels

Role

Brand owner / product developer; uses third-party manufacturing and third-party distribution

Revenue share

100%

DLocal Limited

Payment processing platform (Pay-ins & Pay-outs)

Market

Cross-border payment processing for global merchants in emerging markets

Geography

Global; emerging markets focus (Africa, Asia, Latin America, Middle East)

Customer

Enterprise merchants and platforms

Role

Payment service provider / processor

Side-by-side metrics

Celsius Holdings, Inc.
DLocal Limited
Ticker / Exchange
CELH - NASDAQ
DLO - Nasdaq Global Select Market
Market cap (USD)
$12.4B
$4.3B
Gross margin (TTM)
51.4%
38.6%
Operating margin (TTM)
4.5%
20.8%
Net margin (TTM)
3%
17.8%
Sector
Consumer
Technology
Industry
Beverages - Non-Alcoholic
Software - Infrastructure
HQ country
US
UY
Primary segment
Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)
Payment processing platform (Pay-ins & Pay-outs)
Market structure
Oligopoly
Competitive
Market share
16%-16.4% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
57 / 100
53 / 100
Moat domains
Supply, Demand
Supply, Legal, Demand
Last update
2026-01-05
2025-12-27

Moat coverage

Shared moat types

No overlap yet.

Celsius Holdings, Inc. strengths

Distribution ControlBrand TrustScope Economies

DLocal Limited strengths

Capex Knowhow ScaleCompliance AdvantageSwitching Costs GeneralOperational Excellence

Segment mix

Celsius Holdings, Inc. segments

Full profile >

Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)

Oligopoly

100%

DLocal Limited segments

Full profile >

Payment processing platform (Pay-ins & Pay-outs)

Competitive

n/a

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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.