VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Heineken N.V. vs Sea Limited

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

Heineken N.V.

HEIA · Euronext Amsterdam

Market cap (USD)$37.7B
Gross margin (TTM)21%
Operating margin (TTM)10.8%
Net margin (TTM)4.7%
SectorConsumer
IndustryBeverages - Alcoholic
CountryNL
Data as of2025-12-28
Moat score
65/ 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 Heineken N.V.'s moat claims, evidence, and risks.

View HEIA analysis

Sea Limited

SE · New York Stock Exchange

Market cap (USD)$82.8B
Gross margin (TTM)44.9%
Operating margin (TTM)8.2%
Net margin (TTM)6.8%
SectorConsumer
IndustrySpecialty Retail
CountrySG
Data as of2026-01-06
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 Sea Limited's moat claims, evidence, and risks.

View SE analysis

Comparison highlights

  • Moat score gap: Sea Limited leads (69 / 100 vs 65 / 100 for Heineken N.V.).
  • Segment focus: Heineken N.V. has 4 segments (38.7% in Europe); Sea Limited has 3 segments (73.8% in Shopee (E-commerce)).
  • Moat breadth: Heineken N.V. has 5 moat types across 2 domains; Sea Limited has 6 across 3.

Primary market context

Heineken N.V.

Europe

Market

Beer, cider and beyond-beer alcoholic beverages

Geography

Europe

Customer

Consumers via on-trade (bars/restaurants) and off-trade (retail/wholesale)

Role

Brewer / brand owner / route-to-market operator

Revenue share

38.7%

Sea Limited

Shopee (E-commerce)

Market

E-commerce marketplace and related value-added services

Geography

Southeast Asia, Taiwan, Brazil

Customer

Consumers and sellers

Role

Marketplace operator

Revenue share

73.8%

Side-by-side metrics

Heineken N.V.
Sea Limited
Ticker / Exchange
HEIA - Euronext Amsterdam
SE - New York Stock Exchange
Market cap (USD)
$37.7B
$82.8B
Gross margin (TTM)
21%
44.9%
Operating margin (TTM)
10.8%
8.2%
Net margin (TTM)
4.7%
6.8%
Sector
Consumer
Consumer
Industry
Beverages - Alcoholic
Specialty Retail
HQ country
NL
SG
Primary segment
Europe
Shopee (E-commerce)
Market structure
Oligopoly
Oligopoly
Market share
n/a
52% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
65 / 100
69 / 100
Moat domains
Demand, Supply
Network, Supply, Legal
Last update
2025-12-28
2026-01-06

Moat coverage

Shared moat types

Distribution Control

Heineken N.V. strengths

Brand TrustScale Economies Unit CostData Workflow LockinOperational Excellence

Sea Limited strengths

Two Sided NetworkEcosystem ComplementsRegulated Standards PipeDirect Network EffectsContractual Exclusivity

Segment mix

Heineken N.V. segments

Full profile >

Europe

Oligopoly

38.7%

Americas

Oligopoly

34%

Africa & Middle East

Oligopoly

13.5%

Asia Pacific

Oligopoly

13.8%

Sea Limited segments

Full profile >

Shopee (E-commerce)

Oligopoly

73.8%

SeaMoney (Digital Financial Services)

Competitive

14.1%

Garena (Digital Entertainment)

Competitive

11.4%

Want the full wide moat stocks list?

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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.