VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Stock Comparison

EssilorLuxottica vs Ulta Beauty, Inc.

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

EssilorLuxottica

EL · Euronext Paris

Market cap (USD)$110.3B
Gross margin (TTM)61.5%
Operating margin (TTM)12.4%
Net margin (TTM)8.5%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryFR
Data as of2026-01-11
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 EssilorLuxottica's moat claims, evidence, and risks.

View EL analysis

Ulta Beauty, Inc.

ULTA · NASDAQ

Market cap (USD)$30.6B
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: EssilorLuxottica leads (69 / 100 vs 58 / 100 for Ulta Beauty, Inc.).
  • Segment focus: EssilorLuxottica has 2 segments (52.7% in Direct to Consumer); Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail).
  • Moat breadth: EssilorLuxottica has 5 moat types across 3 domains; Ulta Beauty, Inc. has 8 across 5.

Primary market context

EssilorLuxottica

Direct to Consumer

Market

Optical retail and e-commerce (prescription eyewear and sunglasses)

Geography

Global

Customer

Consumers (end-users)

Role

Omnichannel retailer + vertically integrated manufacturer/brand owner

Revenue share

52.7%

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

EssilorLuxottica
Ulta Beauty, Inc.
Ticker / Exchange
EL - Euronext Paris
ULTA - NASDAQ
Market cap (USD)
$110.3B
$30.6B
Gross margin (TTM)
61.5%
39.2%
Operating margin (TTM)
12.4%
13.2%
Net margin (TTM)
8.5%
9.9%
Sector
Healthcare
Consumer
Industry
Medical - Instruments & Supplies
Specialty Retail
HQ country
FR
US
Primary segment
Direct to Consumer
Beauty Products Retail
Market structure
Competitive
Competitive
Market share
n/a
8%-10% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
69 / 100
58 / 100
Moat domains
Legal, Supply, Demand
Demand, Supply, Legal, Network, Financial
Last update
2026-01-11
2026-01-06

Moat coverage

Shared moat types

Contractual Exclusivity

EssilorLuxottica strengths

IP Choke PointDistribution ControlScale Economies Unit CostBrand Trust

Ulta Beauty, Inc. strengths

Switching Costs GeneralPhysical Network DensityPreferential Input AccessSuite BundlingData Network EffectsTwo Sided NetworkFloat Prepayment

Segment mix

EssilorLuxottica segments

Full profile >

Professional Solutions

Oligopoly

47.3%

Direct to Consumer

Competitive

52.7%

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?

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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.