VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Thursday, January 8, 2026

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Stock Comparison

KKR & Co. Inc. vs PDD Holdings Inc.

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

KKR & Co. Inc.

KKR · New York Stock Exchange

Market cap (USD)$119.9B
Gross margin (TTM)19.5%
Operating margin (TTM)2.6%
Net margin (TTM)14.1%
SectorFinancials
IndustryAsset Management
CountryUS
Data as of2026-01-06
Moat score
67/ 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 KKR & Co. Inc.'s moat claims, evidence, and risks.

View KKR analysis

PDD Holdings Inc.

PDD · NASDAQ

Market cap (USD)$166.7B
Gross margin (TTM)56.7%
Operating margin (TTM)22.1%
Net margin (TTM)24.4%
SectorConsumer
IndustrySpecialty Retail
CountryKY
Data as of2025-12-29
Moat score
44/ 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 PDD Holdings Inc.'s moat claims, evidence, and risks.

View PDD analysis

Comparison highlights

  • Moat score gap: KKR & Co. Inc. leads (67 / 100 vs 44 / 100 for PDD Holdings Inc.).
  • Segment focus: KKR & Co. Inc. has 3 segments (52.3% in Asset Management); PDD Holdings Inc. has 2 segments.
  • Moat breadth: KKR & Co. Inc. has 7 moat types across 4 domains; PDD Holdings Inc. has 4 across 4.

Primary market context

KKR & Co. Inc.

Asset Management

Market

Alternative asset management (private equity, private credit, real assets, and related strategies)

Geography

Global

Customer

Institutional and wealth investors (LPs) allocating to private markets

Role

General partner / investment manager

Revenue share

52.3%

PDD Holdings Inc.

Pinduoduo China marketplace

Market

China online retail marketplace (value-for-money focus)

Geography

China

Customer

Consumers & third-party merchants

Role

Online marketplace platform

Side-by-side metrics

KKR & Co. Inc.
PDD Holdings Inc.
Ticker / Exchange
KKR - New York Stock Exchange
PDD - NASDAQ
Market cap (USD)
$119.9B
$166.7B
Gross margin (TTM)
19.5%
56.7%
Operating margin (TTM)
2.6%
22.1%
Net margin (TTM)
14.1%
24.4%
Sector
Financials
Consumer
Industry
Asset Management
Specialty Retail
HQ country
US
KY
Primary segment
Asset Management
Pinduoduo China marketplace
Market structure
Oligopoly
Oligopoly
Market share
3.5%-5% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
67 / 100
44 / 100
Moat domains
Demand, Supply, Financial, Legal
Network, Supply, Financial, Legal
Last update
2026-01-06
2025-12-29

Moat coverage

Shared moat types

Scale Economies Unit CostFloat PrepaymentCompliance Advantage

KKR & Co. Inc. strengths

Long Term ContractsBrand TrustDeal sourcing and origination relationshipsCapital markets and exit execution capability

PDD Holdings Inc. strengths

Two Sided Network

Segment mix

KKR & Co. Inc. segments

Full profile >

Asset Management

Oligopoly

52.3%

Insurance

Competitive

46.5%

Strategic Holdings

Competitive

1.2%

PDD Holdings Inc. segments

Full profile >

Pinduoduo China marketplace

Oligopoly

n/a

Temu international marketplace

Competitive

n/a

Want the full wide moat stocks list?

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

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.