VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Endeavour Group Limited vs Ulta Beauty, Inc.

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

Endeavour Group Limited

EDV · ASX

Market cap (USD)$6.8B
Gross margin (TTM)34.8%
Operating margin (TTM)7.8%
Net margin (TTM)3.9%
SectorConsumer
IndustryBeverages - Wineries & Distilleries
CountryAU
Data as of2025-12-28
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 Endeavour Group Limited's moat claims, evidence, and risks.

View EDV analysis

Ulta Beauty, Inc.

ULTA · NASDAQ

Market cap (USD)$29.9B
Gross margin (TTM)39.2%
Operating margin (TTM)13.2%
Net margin (TTM)9.9%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2026-01-06
Moat score
58/ 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 Ulta Beauty, Inc.'s moat claims, evidence, and risks.

View ULTA analysis

Comparison highlights

  • Moat score gap: Endeavour Group Limited leads (62 / 100 vs 58 / 100 for Ulta Beauty, Inc.).
  • Segment focus: Endeavour Group Limited has 2 segments (82.5% in Retail); Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Weak vs Moderate.
  • Moat breadth: Endeavour Group Limited has 7 moat types across 3 domains; Ulta Beauty, Inc. has 8 across 5.

Primary market context

Endeavour Group Limited

Retail

Market

Australian off-premise liquor retail (stores + online)

Geography

Australia

Customer

Consumers (end-users) via stores and delivery/pick-up channels

Role

Retailer (with owned/exclusive brands via Pinnacle Drinks)

Revenue share

82.5%

Ulta Beauty, Inc.

Beauty Products Retail

Market

U.S. beauty products retail (specialty omnichannel beauty retailer)

Geography

United States

Customer

Consumers (end-users) shopping in-store and online

Role

Specialty retailer / distributor

Revenue share

94%

Side-by-side metrics

Endeavour Group Limited
Ulta Beauty, Inc.
Ticker / Exchange
EDV - ASX
ULTA - NASDAQ
Market cap (USD)
$6.8B
$29.9B
Gross margin (TTM)
34.8%
39.2%
Operating margin (TTM)
7.8%
13.2%
Net margin (TTM)
3.9%
9.9%
Sector
Consumer
Consumer
Industry
Beverages - Wineries & Distilleries
Specialty Retail
HQ country
AU
US
Primary segment
Retail
Beauty Products Retail
Market structure
Oligopoly
Competitive
Market share
n/a
8%-10% (reported)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
62 / 100
58 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply, Legal, Network, Financial
Last update
2025-12-28
2026-01-06

Moat coverage

Shared moat types

Preferential Input AccessPhysical Network Density

Endeavour Group Limited strengths

Brand TrustDistribution ControlHabit DefaultConcession LicenseOperational Excellence

Ulta Beauty, Inc. strengths

Switching Costs GeneralContractual ExclusivitySuite BundlingData Network EffectsTwo Sided NetworkFloat Prepayment

Segment mix

Endeavour Group Limited segments

Full profile >

Retail

Oligopoly

82.5%

Hotels

Competitive

17.5%

Ulta Beauty, Inc. segments

Full profile >

Beauty Products Retail

Competitive

94%

Beauty Services

Competitive

4%

Platform Monetization (Retail Media, Credit Cards, Partner Royalties, Deferred Revenue)

Competitive

2%

Want the full wide moat stocks list?

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

View the moat stocks list

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.