VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Games Workshop Group PLC vs REA Group Ltd

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

Games Workshop Group PLC

GAW · London Stock Exchange

Market cap (USD)$6.2B
Gross margin (TTM)71.9%
Operating margin (TTM)41%
Net margin (TTM)30.4%
SectorConsumer
IndustryLeisure
CountryGB
Data as of2026-01-05
Moat score
87/ 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 Games Workshop Group PLC's moat claims, evidence, and risks.

View GAW analysis

REA Group Ltd

REA · ASX

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorCommunication Services
Industry
CountryAU
Data as of2026-01-09
Moat score
91/ 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 REA Group Ltd's moat claims, evidence, and risks.

View REA analysis

Comparison highlights

  • Moat score gap: REA Group Ltd leads (91 / 100 vs 87 / 100 for Games Workshop Group PLC).
  • Segment focus: Games Workshop Group PLC has 2 segments (91.5% in Core (Warhammer miniatures & hobby products)); REA Group Ltd has 3 segments (87.5% in Australia - Property & Online Advertising).
  • Primary market structure: Oligopoly vs Duopoly. Pricing power: Strong vs Strong.
  • Moat breadth: Games Workshop Group PLC has 8 moat types across 4 domains; REA Group Ltd has 6 across 3.

Primary market context

Games Workshop Group PLC

Core (Warhammer miniatures & hobby products)

Market

Tabletop miniature wargaming and related hobby products

Geography

Global

Customer

Hobbyists/collectors (B2C) plus independent retailers (B2B)

Role

IP owner + designer/manufacturer + distributor + direct-to-consumer retail

Revenue share

91.5%

REA Group Ltd

Australia - Property & Online Advertising

Market

Australian online property classifieds & digital real estate advertising (residential + commercial listings)

Geography

Australia

Customer

Real estate agents/agencies and developers (advertisers) + property seekers (consumers)

Role

Marketplace operator / media & advertising platform

Revenue share

87.5%

Side-by-side metrics

Games Workshop Group PLC
REA Group Ltd
Ticker / Exchange
GAW - London Stock Exchange
REA - ASX
Market cap (USD)
$6.2B
n/a
Gross margin (TTM)
71.9%
n/a
Operating margin (TTM)
41%
n/a
Net margin (TTM)
30.4%
n/a
Sector
Consumer
Communication Services
Industry
Leisure
n/a
HQ country
GB
AU
Primary segment
Core (Warhammer miniatures & hobby products)
Australia - Property & Online Advertising
Market structure
Oligopoly
Duopoly
Market share
n/a
78%-82% (implied)
HHI estimate
n/a
6,800
Pricing power
Strong
Strong
Moat score
87 / 100
91 / 100
Moat domains
Legal, Demand, Network, Supply
Network, Demand, Supply
Last update
2026-01-05
2026-01-09

Moat coverage

Shared moat types

Brand Trust

Games Workshop Group PLC strengths

IP Choke PointEcosystem ComplementsService Field NetworkSupply Chain ControlInstalled Base ConsumablesContent Rights CurrencyLong Term Contracts

REA Group Ltd strengths

Two Sided NetworkData Network EffectsData Workflow LockinDistribution ControlHabit Default

Segment mix

Games Workshop Group PLC segments

Full profile >

Core (Warhammer miniatures & hobby products)

Oligopoly

91.5%

Licensing (Warhammer IP)

Monopoly

8.5%

REA Group Ltd segments

Full profile >

Australia - Property & Online Advertising

Duopoly

87.5%

Australia - Financial Services

Competitive

4.8%

India - Online Property Classifieds

Oligopoly

7.7%

Want the full wide moat stocks list?

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Looking for expansion-stage stocks?

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.