VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Costco Wholesale Corporation vs Duolingo, Inc.

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

Costco Wholesale Corporation

COST · Nasdaq Global Select Market

Market cap (USD)$388.7B
Gross margin (TTM)12.9%
Operating margin (TTM)3.8%
Net margin (TTM)3%
SectorConsumer
IndustryDiscount Stores
CountryUS
Data as of2025-12-21
Moat score
80/ 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 Costco Wholesale Corporation's moat claims, evidence, and risks.

View COST analysis

Duolingo, Inc.

DUOL · NASDAQ

Market cap (USD)$8.6B
Gross margin (TTM)72%
Operating margin (TTM)11%
Net margin (TTM)40%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2026-01-06
Moat score
68/ 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 Duolingo, Inc.'s moat claims, evidence, and risks.

View DUOL analysis

Comparison highlights

  • Moat score gap: Costco Wholesale Corporation leads (80 / 100 vs 68 / 100 for Duolingo, Inc.).
  • Segment focus: Costco Wholesale Corporation has 2 segments (98.1% in Warehouse club retail); Duolingo, Inc. has 2 segments (93.9% in Duolingo App).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Weak vs Moderate.
  • Moat breadth: Costco Wholesale Corporation has 6 moat types across 3 domains; Duolingo, Inc. has 6 across 3.

Primary market context

Costco Wholesale Corporation

Warehouse club retail

Market

Membership warehouse club retail (warehouse clubs, ancillary services, and e-commerce)

Geography

Global

Customer

Households and small businesses

Role

Retailer (membership club)

Revenue share

98.1%

Duolingo, Inc.

Duolingo App

Market

Mobile-first, freemium language learning and adjacent subjects (math, music)

Geography

Global

Customer

Consumers (end-users); advertisers

Role

Digital learning platform / content & software publisher

Revenue share

93.9%

Side-by-side metrics

Costco Wholesale Corporation
Duolingo, Inc.
Ticker / Exchange
COST - Nasdaq Global Select Market
DUOL - NASDAQ
Market cap (USD)
$388.7B
$8.6B
Gross margin (TTM)
12.9%
72%
Operating margin (TTM)
3.8%
11%
Net margin (TTM)
3%
40%
Sector
Consumer
Technology
Industry
Discount Stores
Software - Application
HQ country
US
US
Primary segment
Warehouse club retail
Duolingo App
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
80 / 100
68 / 100
Moat domains
Supply, Financial, Demand
Network, Demand, Supply
Last update
2025-12-21
2026-01-06

Moat coverage

Shared moat types

Operational ExcellenceBrand TrustHabit Default

Costco Wholesale Corporation strengths

Scale Economies Unit CostNegative Working CapitalFloat Prepayment

Duolingo, Inc. strengths

Data Network EffectsScope EconomiesDesign In Qualification

Segment mix

Costco Wholesale Corporation segments

Full profile >

Warehouse club retail

Oligopoly

98.1%

Membership fees (subscription)

Oligopoly

1.9%

Duolingo, Inc. segments

Full profile >

Duolingo App

Competitive

93.9%

Duolingo English Test

Oligopoly

6.1%

Want the full wide moat stocks list?

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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.