VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 14, 2026

Stock Comparison

Hormel Foods Corporation vs Ulta Beauty, Inc.

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

Hormel Foods Corporation

HRL · New York Stock Exchange

Market cap (USD)$12.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorConsumer
Industry
CountryUS
Data as of2026-01-11
Moat score
58/ 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 Hormel Foods Corporation's moat claims, evidence, and risks.

View HRL analysis

Ulta Beauty, Inc.

ULTA · NASDAQ

Market cap (USD)$29.9B
Gross margin (TTM)39.2%
Operating margin (TTM)13.2%
Net margin (TTM)9.9%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2026-01-06
Moat score
58/ 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 Ulta Beauty, Inc.'s moat claims, evidence, and risks.

View ULTA analysis

Comparison highlights

  • Moat score: both at 58 / 100.
  • Segment focus: Hormel Foods Corporation has 3 segments (61.6% in Retail); Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail).
  • Moat breadth: Hormel Foods Corporation has 4 moat types across 2 domains; Ulta Beauty, Inc. has 8 across 5.

Primary market context

Hormel Foods Corporation

Retail

Market

U.S. branded packaged foods sold through retail channels (grocery, mass, club, natural, drug, dollar/discount, e-commerce)

Geography

United States

Customer

Retailers and e-commerce platforms (sell-through to consumers)

Role

Branded manufacturer / marketer

Revenue share

61.6%

Ulta Beauty, Inc.

Beauty Products Retail

Market

U.S. beauty products retail (specialty omnichannel beauty retailer)

Geography

United States

Customer

Consumers (end-users) shopping in-store and online

Role

Specialty retailer / distributor

Revenue share

94%

Side-by-side metrics

Hormel Foods Corporation
Ulta Beauty, Inc.
Ticker / Exchange
HRL - New York Stock Exchange
ULTA - NASDAQ
Market cap (USD)
$12.8B
$29.9B
Gross margin (TTM)
n/a
39.2%
Operating margin (TTM)
n/a
13.2%
Net margin (TTM)
n/a
9.9%
Sector
Consumer
Consumer
Industry
n/a
Specialty Retail
HQ country
US
US
Primary segment
Retail
Beauty Products Retail
Market structure
Competitive
Competitive
Market share
n/a
8%-10% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
58 / 100
58 / 100
Moat domains
Demand, Supply
Demand, Supply, Legal, Network, Financial
Last update
2026-01-11
2026-01-06

Moat coverage

Shared moat types

No overlap yet.

Hormel Foods Corporation strengths

Brand TrustDistribution ControlScope EconomiesService Field Network

Ulta Beauty, Inc. strengths

Switching Costs GeneralPhysical Network DensityContractual ExclusivityPreferential Input AccessSuite BundlingData Network EffectsTwo Sided NetworkFloat Prepayment

Segment mix

Hormel Foods Corporation segments

Full profile >

Retail

Competitive

61.6%

Foodservice

Competitive

32.6%

International

Competitive

5.9%

Ulta Beauty, Inc. segments

Full profile >

Beauty Products Retail

Competitive

94%

Beauty Services

Competitive

4%

Platform Monetization (Retail Media, Credit Cards, Partner Royalties, Deferred Revenue)

Competitive

2%

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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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.