VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Costco Wholesale Corporation vs PDD Holdings 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)$379.8B
SectorConsumer
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

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: Costco Wholesale Corporation leads (80 / 100 vs 44 / 100 for PDD Holdings Inc.).
  • Segment focus: Costco Wholesale Corporation has 2 segments (98.1% in Warehouse club retail); PDD Holdings Inc. has 2 segments.
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Costco Wholesale Corporation has 6 moat types across 3 domains; PDD Holdings Inc. has 4 across 4.

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%

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

Costco Wholesale Corporation
PDD Holdings Inc.
Ticker / Exchange
COST - Nasdaq Global Select Market
PDD - NASDAQ
Market cap (USD)
$379.8B
$161.7B
Sector
Consumer
Consumer
HQ country
US
KY
Primary segment
Warehouse club retail
Pinduoduo China marketplace
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
80 / 100
44 / 100
Moat domains
Supply, Financial, Demand
Network, Supply, Financial, Legal
Last update
2025-12-21
2025-12-29

Moat coverage

Shared moat types

Scale Economies Unit CostFloat Prepayment

Costco Wholesale Corporation strengths

Operational ExcellenceNegative Working CapitalBrand TrustHabit Default

PDD Holdings Inc. strengths

Two Sided NetworkCompliance Advantage

Segment mix

Costco Wholesale Corporation segments

Full profile >

Warehouse club retail

Oligopoly

98.1%

Membership fees (subscription)

Oligopoly

1.9%

PDD Holdings Inc. segments

Full profile >

Pinduoduo China marketplace

Oligopoly

n/a

Temu international marketplace

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.