VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Stock Comparison

Etsy, Inc. vs Alphabet Inc.

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

Etsy, Inc.

ETSY · New York Stock Exchange

Market cap (USD)$5.2B
Gross margin (TTM)71.6%
Operating margin (TTM)9.3%
Net margin (TTM)5.7%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2025-12-28
Moat score
66/ 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 Etsy, Inc.'s moat claims, evidence, and risks.

View ETSY analysis

Alphabet Inc.

GOOGL · The Nasdaq Stock Market

Market cap (USD)$3.8T
Gross margin (TTM)59.7%
Operating margin (TTM)32%
Net margin (TTM)32.8%
SectorCommunication Services
IndustryInternet Content & Information
CountryUS
Data as of2025-12-21
Moat score
86/ 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 Alphabet Inc.'s moat claims, evidence, and risks.

View GOOGL analysis

Comparison highlights

  • Moat score gap: Alphabet Inc. leads (86 / 100 vs 66 / 100 for Etsy, Inc.).
  • Segment focus: Etsy, Inc. has 2 segments (72% in Marketplace Platform (transaction fees + payments processing + listing fees)); Alphabet Inc. has 6 segments (56.6% in Google Search & other (Advertising)).
  • Primary market structure: Competitive vs Quasi-Monopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Etsy, Inc. has 6 moat types across 3 domains; Alphabet Inc. has 10 across 4.

Primary market context

Etsy, Inc.

Marketplace Platform (transaction fees + payments processing + listing fees)

Market

Specialty e-commerce marketplaces (handmade/unique goods and resale fashion)

Geography

Global

Customer

Consumers and independent sellers

Role

Two-sided marketplace operator and payments facilitator

Revenue share

72%

Alphabet Inc.

Google Search & other (Advertising)

Market

Search advertising (intent-based digital ads)

Geography

Global

Customer

Advertisers (SMB to enterprise)

Role

Ad platform / publisher

Revenue share

56.6%

Side-by-side metrics

Etsy, Inc.
Alphabet Inc.
Ticker / Exchange
ETSY - New York Stock Exchange
GOOGL - The Nasdaq Stock Market
Market cap (USD)
$5.2B
$3.8T
Gross margin (TTM)
71.6%
59.7%
Operating margin (TTM)
9.3%
32%
Net margin (TTM)
5.7%
32.8%
Sector
Consumer
Communication Services
Industry
Specialty Retail
Internet Content & Information
HQ country
US
US
Primary segment
Marketplace Platform (transaction fees + payments processing + listing fees)
Google Search & other (Advertising)
Market structure
Competitive
Quasi-Monopoly
Market share
n/a
88%-91% (reported)
HHI estimate
n/a
8,115
Pricing power
Moderate
Strong
Moat score
66 / 100
86 / 100
Moat domains
Network, Demand, Supply
Network, Demand, Legal, Supply
Last update
2025-12-28
2025-12-21

Moat coverage

Shared moat types

Two Sided NetworkOperational Excellence

Etsy, Inc. strengths

Brand TrustSuite BundlingData Workflow LockinScale Economies Unit Cost

Alphabet Inc. strengths

Data Network EffectsHabit DefaultContent Rights CurrencyDefault OS GatewaySwitching Costs GeneralCapex Knowhow ScaleEcosystem ComplementsIncubation & patient capital

Segment mix

Etsy, Inc. segments

Full profile >

Marketplace Platform (transaction fees + payments processing + listing fees)

Competitive

72%

Seller Services (on-site advertising + shipping labels + other)

Quasi-Monopoly

28%

Alphabet Inc. segments

Full profile >

Google Search & other (Advertising)

Quasi-Monopoly

56.6%

YouTube (Advertising)

Oligopoly

10.3%

Google Network (Advertising)

Competitive

8.7%

Google Subscriptions, Platforms & Devices

Quasi-Monopoly

11.5%

Google Cloud

Oligopoly

12.4%

Other Bets

Competitive

0.5%

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.