VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

Stock Comparison

Etsy, Inc. vs The Italian Sea Group S.p.A.

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)$6.1B
Gross margin (TTM)72%
Operating margin (TTM)10.2%
Net margin (TTM)6.4%
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

The Italian Sea Group S.p.A.

TISG · Euronext Milan (Borsa Italiana)

Market cap (USD)$241.7M
Gross margin (TTM)70.9%
Operating margin (TTM)12.1%
Net margin (TTM)3.8%
SectorConsumer
IndustryLeisure
CountryIT
Data as of2026-01-08
Moat score
61/ 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 Italian Sea Group S.p.A.'s moat claims, evidence, and risks.

View TISG analysis

Comparison highlights

  • Moat score gap: Etsy, Inc. leads (66 / 100 vs 61 / 100 for The Italian Sea Group S.p.A.).
  • Segment focus: Etsy, Inc. has 2 segments (72% in Marketplace Platform (transaction fees + payments processing + listing fees)); The Italian Sea Group S.p.A. has 2 segments (89.7% in Shipbuilding).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Etsy, Inc. has 6 moat types across 3 domains; The Italian Sea Group S.p.A. has 5 across 3.

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%

The Italian Sea Group S.p.A.

Shipbuilding

Market

Luxury yacht and superyacht shipbuilding (motor and sailing, 24m+ projects under construction/contract)

Geography

Global

Customer

Ultra-high-net-worth individuals (owners) and yacht brokers; occasional fleet/charter buyers

Role

Designer/shipyard (OEM) and brand owner

Revenue share

89.7%

Side-by-side metrics

Etsy, Inc.
The Italian Sea Group S.p.A.
Ticker / Exchange
ETSY - New York Stock Exchange
TISG - Euronext Milan (Borsa Italiana)
Market cap (USD)
$6.1B
$241.7M
Gross margin (TTM)
72%
70.9%
Operating margin (TTM)
10.2%
12.1%
Net margin (TTM)
6.4%
3.8%
Sector
Consumer
Consumer
Industry
Specialty Retail
Leisure
HQ country
US
IT
Primary segment
Marketplace Platform (transaction fees + payments processing + listing fees)
Shipbuilding
Market structure
Competitive
Oligopoly
Market share
n/a
1.8%-2.2% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
66 / 100
61 / 100
Moat domains
Network, Demand, Supply
Demand, Supply, Legal
Last update
2025-12-28
2026-01-08

Moat coverage

Shared moat types

Brand TrustOperational Excellence

Etsy, Inc. strengths

Two Sided NetworkSuite BundlingData Workflow LockinScale Economies Unit Cost

The Italian Sea Group S.p.A. strengths

Supply Chain ControlConcession LicenseLong Term Contracts

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%

The Italian Sea Group S.p.A. segments

Full profile >

Shipbuilding

Oligopoly

89.7%

Refit

Competitive

10.3%

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.