VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Thales S.A. vs Sea Limited

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

Thales S.A.

HO · Euronext Paris

Market cap (USD)$51.4B
Gross margin (TTM)26.1%
Operating margin (TTM)9%
Net margin (TTM)5.1%
SectorIndustrials
IndustryAerospace & Defense
CountryFR
Data as of2025-12-28
Moat score
73/ 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 Thales S.A.'s moat claims, evidence, and risks.

View HO 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: Thales S.A. leads (73 / 100 vs 69 / 100 for Sea Limited).
  • Segment focus: Thales S.A. has 3 segments (53.3% in Defence); Sea Limited has 3 segments (73.8% in Shopee (E-commerce)).
  • Moat breadth: Thales S.A. has 8 moat types across 3 domains; Sea Limited has 6 across 3.

Primary market context

Thales S.A.

Defence

Market

Defense electronics, secure communications, and mission systems

Geography

Global

Customer

Government / defence ministries, armed forces, security forces

Role

Prime contractor and system integrator; OEM of defence electronics

Revenue share

53.3%

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

Thales S.A.
Sea Limited
Ticker / Exchange
HO - Euronext Paris
SE - New York Stock Exchange
Market cap (USD)
$51.4B
$82.8B
Gross margin (TTM)
26.1%
44.9%
Operating margin (TTM)
9%
8.2%
Net margin (TTM)
5.1%
6.8%
Sector
Industrials
Consumer
Industry
Aerospace & Defense
Specialty Retail
HQ country
FR
SG
Primary segment
Defence
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
73 / 100
69 / 100
Moat domains
Legal, Demand, Supply
Network, Supply, Legal
Last update
2025-12-28
2026-01-06

Moat coverage

Shared moat types

Regulated Standards Pipe

Thales S.A. strengths

Government Contracting RelationshipsLong Term ContractsDesign In QualificationService Field NetworkBrand TrustSuite BundlingCapex Knowhow Scale

Sea Limited strengths

Two Sided NetworkDistribution ControlEcosystem ComplementsDirect Network EffectsContractual Exclusivity

Segment mix

Thales S.A. segments

Full profile >

Defence

Oligopoly

53.3%

Aerospace

Oligopoly

26.6%

Cyber & Digital

Competitive

19.6%

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?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.