VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 14, 2026

Stock Comparison

lululemon athletica inc. vs Ulta Beauty, Inc.

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

lululemon athletica inc.

LULU · Nasdaq Global Select Market

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorConsumer
Industry
CountryUS
Data as of2026-01-12
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 lululemon athletica inc.'s moat claims, evidence, and risks.

View LULU 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 gap: lululemon athletica inc. leads (69 / 100 vs 58 / 100 for Ulta Beauty, Inc.).
  • Segment focus: lululemon athletica inc. has 3 segments (63.2% in Women's products); Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail).
  • Primary market structure: Competitive vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: lululemon athletica inc. has 3 moat types across 2 domains; Ulta Beauty, Inc. has 8 across 5.

Primary market context

lululemon athletica inc.

Women's products

Market

Premium women's technical athletic apparel (athleisure: yoga, run, train, lifestyle)

Geography

Global

Customer

Consumers (end-users) via company-operated stores and e-commerce; limited wholesale

Role

Brand owner / designer / DTC retailer

Revenue share

63.2%

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

lululemon athletica inc.
Ulta Beauty, Inc.
Ticker / Exchange
LULU - Nasdaq Global Select Market
ULTA - NASDAQ
Market cap (USD)
n/a
$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
Women's products
Beauty Products Retail
Market structure
Competitive
Competitive
Market share
n/a
8%-10% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
69 / 100
58 / 100
Moat domains
Demand, Supply
Demand, Supply, Legal, Network, Financial
Last update
2026-01-12
2026-01-06

Moat coverage

Shared moat types

No overlap yet.

lululemon athletica inc. strengths

Brand TrustDistribution ControlLearning Curve Yield

Ulta Beauty, Inc. strengths

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

Segment mix

lululemon athletica inc. segments

Full profile >

Women's products

Competitive

63.2%

Men's products

Competitive

24.2%

Other categories (accessories, footwear, Studio)

Competitive

12.6%

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?

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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.