VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Duolingo, Inc. vs Interactive Brokers Group, Inc.

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

Duolingo, Inc.

DUOL · NASDAQ

Market cap (USD)$8.6B
Gross margin (TTM)72%
Operating margin (TTM)11%
Net margin (TTM)40%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2026-01-06
Moat score
68/ 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 Duolingo, Inc.'s moat claims, evidence, and risks.

View DUOL analysis

Interactive Brokers Group, Inc.

IBKR · NASDAQ

Market cap (USD)$123.6B
Gross margin (TTM)89%
Operating margin (TTM)82.7%
Net margin (TTM)9.2%
SectorFinancials
IndustryInvestment - Banking & Investment Services
CountryUS
Data as of2026-01-06
Moat score
60/ 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 Interactive Brokers Group, Inc.'s moat claims, evidence, and risks.

View IBKR analysis

Comparison highlights

  • Moat score gap: Duolingo, Inc. leads (68 / 100 vs 60 / 100 for Interactive Brokers Group, Inc.).
  • Segment focus: Duolingo, Inc. has 2 segments (93.9% in Duolingo App); Interactive Brokers Group, Inc. has 1 segment (100% in Electronic brokerage).
  • Primary market structure: Competitive vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Duolingo, Inc. has 6 moat types across 3 domains; Interactive Brokers Group, Inc. has 4 across 4.

Primary market context

Duolingo, Inc.

Duolingo App

Market

Mobile-first, freemium language learning and adjacent subjects (math, music)

Geography

Global

Customer

Consumers (end-users); advertisers

Role

Digital learning platform / content & software publisher

Revenue share

93.9%

Interactive Brokers Group, Inc.

Electronic brokerage

Market

Multi-asset electronic brokerage, clearing, custody, and financing (self-directed and institutional)

Geography

Global

Customer

Individual investors and institutional clients (e.g., hedge funds, advisors, proprietary trading firms, introducing brokers)

Role

Broker-dealer / clearing broker / platform operator

Revenue share

100%

Side-by-side metrics

Duolingo, Inc.
Interactive Brokers Group, Inc.
Ticker / Exchange
DUOL - NASDAQ
IBKR - NASDAQ
Market cap (USD)
$8.6B
$123.6B
Gross margin (TTM)
72%
89%
Operating margin (TTM)
11%
82.7%
Net margin (TTM)
40%
9.2%
Sector
Technology
Financials
Industry
Software - Application
Investment - Banking & Investment Services
HQ country
US
US
Primary segment
Duolingo App
Electronic brokerage
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
68 / 100
60 / 100
Moat domains
Network, Demand, Supply
Supply, Network, Legal, Demand
Last update
2026-01-06
2026-01-06

Moat coverage

Shared moat types

Operational Excellence

Duolingo, Inc. strengths

Data Network EffectsHabit DefaultBrand TrustScope EconomiesDesign In Qualification

Interactive Brokers Group, Inc. strengths

Interoperability HubCompliance AdvantageData Workflow Lockin

Segment mix

Duolingo, Inc. segments

Full profile >

Duolingo App

Competitive

93.9%

Duolingo English Test

Oligopoly

6.1%

Interactive Brokers Group, Inc. segments

Full profile >

Electronic brokerage

Competitive

100%

Want the full wide moat stocks list?

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Looking for expansion-stage stocks?

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.