VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Canadian National Railway Company vs PDD Holdings Inc.

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

Canadian National Railway Company

CNR · Toronto Stock Exchange

Market cap (USD)$61.2B
SectorIndustrials
CountryCA
Data as of2025-12-30
Moat score
97/ 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 Canadian National Railway Company's moat claims, evidence, and risks.

View CNR analysis

PDD Holdings Inc.

PDD · NASDAQ

Market cap (USD)$161.7B
SectorConsumer
CountryKY
Data as of2025-12-29
Moat score
44/ 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 PDD Holdings Inc.'s moat claims, evidence, and risks.

View PDD analysis

Comparison highlights

  • Moat score gap: Canadian National Railway Company leads (97 / 100 vs 44 / 100 for PDD Holdings Inc.).
  • Segment focus: Canadian National Railway Company has 2 segments (96.2% in Rail freight transportation network); PDD Holdings Inc. has 2 segments.
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Canadian National Railway Company has 4 moat types across 2 domains; PDD Holdings Inc. has 4 across 4.

Primary market context

Canadian National Railway Company

Rail freight transportation network

Market

Canadian Class I freight rail transportation

Geography

Canada (with U.S. cross-border corridors)

Customer

Industrial shippers, intermodal customers, and auto supply chains

Role

Line-haul freight railway (Class I)

Revenue share

96.2%

PDD Holdings Inc.

Pinduoduo China marketplace

Market

China online retail marketplace (value-for-money focus)

Geography

China

Customer

Consumers & third-party merchants

Role

Online marketplace platform

Side-by-side metrics

Canadian National Railway Company
PDD Holdings Inc.
Ticker / Exchange
CNR - Toronto Stock Exchange
PDD - NASDAQ
Market cap (USD)
$61.2B
$161.7B
Sector
Industrials
Consumer
HQ country
CA
KY
Primary segment
Rail freight transportation network
Pinduoduo China marketplace
Market structure
Duopoly
Oligopoly
Market share
50%-56% (estimated)
n/a
HHI estimate
4,031
n/a
Pricing power
Moderate
Moderate
Moat score
97 / 100
44 / 100
Moat domains
Legal, Supply
Network, Supply, Financial, Legal
Last update
2025-12-30
2025-12-29

Moat coverage

Shared moat types

Scale Economies Unit Cost

Canadian National Railway Company strengths

Permits Rights Of WayPhysical Network DensityScope Economies

PDD Holdings Inc. strengths

Two Sided NetworkFloat PrepaymentCompliance Advantage

Segment mix

Canadian National Railway Company segments

Full profile >

Rail freight transportation network

Duopoly

96.2%

Non-rail logistics and ancillary services

Competitive

3.8%

PDD Holdings Inc. segments

Full profile >

Pinduoduo China marketplace

Oligopoly

n/a

Temu international marketplace

Competitive

n/a

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.