VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Duolingo, Inc. vs The Trade Desk, 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

The Trade Desk, Inc.

TTD · NASDAQ

Market cap (USD)$19.7B
Gross margin (TTM)78.8%
Operating margin (TTM)18.9%
Net margin (TTM)15.7%
SectorCommunication Services
IndustrySoftware - Application
CountryUS
Data as of2025-12-26
Moat score
62/ 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 Trade Desk, Inc.'s moat claims, evidence, and risks.

View TTD analysis

Comparison highlights

  • Moat score gap: Duolingo, Inc. leads (68 / 100 vs 62 / 100 for The Trade Desk, Inc.).
  • Segment focus: Duolingo, Inc. has 2 segments (93.9% in Duolingo App); The Trade Desk, Inc. has 1 segment (100% in Advertising Technology Platform (DSP)).
  • Moat breadth: Duolingo, Inc. has 6 moat types across 3 domains; The Trade Desk, Inc. has 4 across 2.

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%

The Trade Desk, Inc.

Advertising Technology Platform (DSP)

Market

Demand-side platforms (DSP) for programmatic advertising (open internet)

Geography

Global

Customer

Advertising agencies and advertisers

Role

Buy-side platform / demand aggregation

Revenue share

100%

Side-by-side metrics

Duolingo, Inc.
The Trade Desk, Inc.
Ticker / Exchange
DUOL - NASDAQ
TTD - NASDAQ
Market cap (USD)
$8.6B
$19.7B
Gross margin (TTM)
72%
78.8%
Operating margin (TTM)
11%
18.9%
Net margin (TTM)
40%
15.7%
Sector
Technology
Communication Services
Industry
Software - Application
Software - Application
HQ country
US
US
Primary segment
Duolingo App
Advertising Technology Platform (DSP)
Market structure
Competitive
Competitive
Market share
n/a
6%-10% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
68 / 100
62 / 100
Moat domains
Network, Demand, Supply
Network, Demand
Last update
2026-01-06
2025-12-26

Moat coverage

Shared moat types

Data Network Effects

Duolingo, Inc. strengths

Habit DefaultBrand TrustScope EconomiesDesign In QualificationOperational Excellence

The Trade Desk, Inc. strengths

Interoperability HubSwitching Costs GeneralStandards Registry

Segment mix

Duolingo, Inc. segments

Full profile >

Duolingo App

Competitive

93.9%

Duolingo English Test

Oligopoly

6.1%

The Trade Desk, Inc. segments

Full profile >

Advertising Technology Platform (DSP)

Competitive

100%

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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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.