VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

DSM-Firmenich AG vs Sea Limited

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

DSM-Firmenich AG

DSFIR · Euronext Amsterdam

Market cap (USD)$17.8B
Gross margin (TTM)34.1%
Operating margin (TTM)9.2%
Net margin (TTM)5.5%
SectorMaterials
IndustryHousehold & Personal Products
CountryCH
Data as of2025-12-29
Moat score
63/ 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 DSM-Firmenich AG's moat claims, evidence, and risks.

View DSFIR analysis

Sea Limited

SE · New York Stock Exchange

Market cap (USD)$82.8B
Gross margin (TTM)44.9%
Operating margin (TTM)8.2%
Net margin (TTM)6.8%
SectorConsumer
IndustrySpecialty Retail
CountrySG
Data as of2026-01-06
Moat score
69/ 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 Sea Limited's moat claims, evidence, and risks.

View SE analysis

Comparison highlights

  • Moat score gap: Sea Limited leads (69 / 100 vs 63 / 100 for DSM-Firmenich AG).
  • Segment focus: DSM-Firmenich AG has 4 segments (31% in Perfumery & Beauty); Sea Limited has 3 segments (73.8% in Shopee (E-commerce)).
  • Moat breadth: DSM-Firmenich AG has 10 moat types across 4 domains; Sea Limited has 6 across 3.

Primary market context

DSM-Firmenich AG

Perfumery & Beauty

Market

B2B fragrances, perfumery ingredients, and beauty ingredients

Geography

Global

Customer

Consumer brands (fine fragrance, personal care, home care) and beauty brands

Role

Ingredient supplier / fragrance house (co-creation + ingredient palette)

Revenue share

31%

Sea Limited

Shopee (E-commerce)

Market

E-commerce marketplace and related value-added services

Geography

Southeast Asia, Taiwan, Brazil

Customer

Consumers and sellers

Role

Marketplace operator

Revenue share

73.8%

Side-by-side metrics

DSM-Firmenich AG
Sea Limited
Ticker / Exchange
DSFIR - Euronext Amsterdam
SE - New York Stock Exchange
Market cap (USD)
$17.8B
$82.8B
Gross margin (TTM)
34.1%
44.9%
Operating margin (TTM)
9.2%
8.2%
Net margin (TTM)
5.5%
6.8%
Sector
Materials
Consumer
Industry
Household & Personal Products
Specialty Retail
HQ country
CH
SG
Primary segment
Perfumery & Beauty
Shopee (E-commerce)
Market structure
Oligopoly
Oligopoly
Market share
n/a
52% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
69 / 100
Moat domains
Supply, Demand, Legal, Network
Network, Supply, Legal
Last update
2025-12-29
2026-01-06

Moat coverage

Shared moat types

Ecosystem Complements

DSM-Firmenich AG strengths

Supply Chain ControlTraining Org Change CostsIP Choke PointScope EconomiesLearning Curve YieldCompliance AdvantageDesign In QualificationService Field NetworkData Workflow Lockin

Sea Limited strengths

Two Sided NetworkDistribution ControlRegulated Standards PipeDirect Network EffectsContractual Exclusivity

Segment mix

DSM-Firmenich AG segments

Full profile >

Perfumery & Beauty

Oligopoly

31%

Taste, Texture & Health

Oligopoly

25.4%

Health, Nutrition & Care

Competitive

17.3%

Animal Nutrition & Health

Competitive

26%

Sea Limited segments

Full profile >

Shopee (E-commerce)

Oligopoly

73.8%

SeaMoney (Digital Financial Services)

Competitive

14.1%

Garena (Digital Entertainment)

Competitive

11.4%

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.