VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

DLocal Limited vs The Italian Sea Group S.p.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)$4.1B
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

The Italian Sea Group S.p.A.

TISG · Euronext Milan (Borsa Italiana)

Market cap (USD)$241.7M
Gross margin (TTM)70.9%
Operating margin (TTM)12.1%
Net margin (TTM)3.8%
SectorConsumer
IndustryLeisure
CountryIT
Data as of2026-01-08
Moat score
61/ 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 The Italian Sea Group S.p.A.'s moat claims, evidence, and risks.

View TISG analysis

Comparison highlights

  • Moat score gap: The Italian Sea Group S.p.A. leads (61 / 100 vs 53 / 100 for DLocal Limited).
  • Segment focus: DLocal Limited has 1 segment; The Italian Sea Group S.p.A. has 2 segments (89.7% in Shipbuilding).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: DLocal Limited has 4 moat types across 3 domains; The Italian Sea Group S.p.A. has 5 across 3.

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

The Italian Sea Group S.p.A.

Shipbuilding

Market

Luxury yacht and superyacht shipbuilding (motor and sailing, 24m+ projects under construction/contract)

Geography

Global

Customer

Ultra-high-net-worth individuals (owners) and yacht brokers; occasional fleet/charter buyers

Role

Designer/shipyard (OEM) and brand owner

Revenue share

89.7%

Side-by-side metrics

DLocal Limited
The Italian Sea Group S.p.A.
Ticker / Exchange
DLO - Nasdaq Global Select Market
TISG - Euronext Milan (Borsa Italiana)
Market cap (USD)
$4.1B
$241.7M
Gross margin (TTM)
38.6%
70.9%
Operating margin (TTM)
20.8%
12.1%
Net margin (TTM)
17.8%
3.8%
Sector
Technology
Consumer
Industry
Software - Infrastructure
Leisure
HQ country
UY
IT
Primary segment
Payment processing platform (Pay-ins & Pay-outs)
Shipbuilding
Market structure
Competitive
Oligopoly
Market share
n/a
1.8%-2.2% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
53 / 100
61 / 100
Moat domains
Supply, Legal, Demand
Demand, Supply, Legal
Last update
2025-12-27
2026-01-08

Moat coverage

Shared moat types

Operational Excellence

DLocal Limited strengths

Capex Knowhow ScaleCompliance AdvantageSwitching Costs General

The Italian Sea Group S.p.A. strengths

Brand TrustSupply Chain ControlConcession LicenseLong Term Contracts

Segment mix

DLocal Limited segments

Full profile >

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

Competitive

n/a

The Italian Sea Group S.p.A. segments

Full profile >

Shipbuilding

Oligopoly

89.7%

Refit

Competitive

10.3%

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.