VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

DLocal Limited vs Dino Polska S.A.

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

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

Dino Polska S.A.

DNP · Warsaw Stock Exchange

Market cap (USD)$3.7B
Gross margin (TTM)26.1%
Operating margin (TTM)272.7%
Net margin (TTM)261.5%
SectorConsumer
IndustryAsset Management - Income
CountryPL
Data as of2026-01-05
Moat score
66/ 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 Dino Polska S.A.'s moat claims, evidence, and risks.

View DNP analysis

Comparison highlights

  • Moat score gap: Dino Polska S.A. leads (66 / 100 vs 53 / 100 for DLocal Limited).
  • Segment focus: DLocal Limited has 1 segment; Dino Polska S.A. has 1 segment (100% in Proximity grocery retail (Dino stores)).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Weak.
  • Moat breadth: DLocal Limited has 4 moat types across 3 domains; Dino Polska S.A. has 5 across 2.

Primary market context

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

Dino Polska S.A.

Proximity grocery retail (Dino stores)

Market

Retail grocery (mid-sized proximity supermarkets)

Geography

Poland

Customer

Households / consumers

Role

Brick-and-mortar grocery retailer

Revenue share

100%

Side-by-side metrics

DLocal Limited
Dino Polska S.A.
Ticker / Exchange
DLO - Nasdaq Global Select Market
DNP - Warsaw Stock Exchange
Market cap (USD)
$4.3B
$3.7B
Gross margin (TTM)
38.6%
26.1%
Operating margin (TTM)
20.8%
272.7%
Net margin (TTM)
17.8%
261.5%
Sector
Technology
Consumer
Industry
Software - Infrastructure
Asset Management - Income
HQ country
UY
PL
Primary segment
Payment processing platform (Pay-ins & Pay-outs)
Proximity grocery retail (Dino stores)
Market structure
Competitive
Oligopoly
Market share
n/a
7%-9% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
53 / 100
66 / 100
Moat domains
Supply, Legal, Demand
Supply, Demand
Last update
2025-12-27
2026-01-05

Moat coverage

Shared moat types

Operational Excellence

DLocal Limited strengths

Capex Knowhow ScaleCompliance AdvantageSwitching Costs General

Dino Polska S.A. strengths

Physical Network DensityHabit DefaultSupply Chain ControlScale Economies Unit Cost

Segment mix

DLocal Limited segments

Full profile >

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

Competitive

n/a

Dino Polska S.A. segments

Full profile >

Proximity grocery retail (Dino stores)

Oligopoly

100%

Want the full wide moat stocks list?

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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.