VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, December 29, 2025

Stock Comparison

DLocal Limited vs PDD Holdings Inc.

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)
SectorTechnology
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

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: DLocal Limited leads (53 / 100 vs 44 / 100 for PDD Holdings Inc.).
  • Segment focus: DLocal Limited has 1 segment; PDD Holdings Inc. has 2 segments.
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: DLocal Limited has 4 moat types across 3 domains; PDD Holdings Inc. has 4 across 4.

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

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

DLocal Limited
PDD Holdings Inc.
Ticker / Exchange
DLO - Nasdaq Global Select Market
PDD - NASDAQ
Market cap (USD)
n/a
$161.7B
Sector
Technology
Consumer
HQ country
UY
KY
Primary segment
Payment processing platform (Pay-ins & Pay-outs)
Pinduoduo China marketplace
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
53 / 100
44 / 100
Moat domains
Supply, Legal, Demand
Network, Supply, Financial, Legal
Last update
2025-12-27
2025-12-29

Moat coverage

Shared moat types

Compliance Advantage

DLocal Limited strengths

Capex Knowhow ScaleSwitching Costs GeneralOperational Excellence

PDD Holdings Inc. strengths

Two Sided NetworkScale Economies Unit CostFloat Prepayment

Segment mix

DLocal Limited segments

Full profile >

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

Competitive

n/a

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?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.