VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

MercadoLibre, Inc. vs Morningstar, Inc.

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

MercadoLibre, Inc.

MELI · NASDAQ

Market cap (USD)$110.4B
Gross margin (TTM)45.1%
Operating margin (TTM)12%
Net margin (TTM)7.9%
SectorTechnology
IndustrySpecialty Retail
CountryUS
Data as of2025-12-29
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 MercadoLibre, Inc.'s moat claims, evidence, and risks.

View MELI analysis

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryUS
Data as of2026-01-10
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 Morningstar, Inc.'s moat claims, evidence, and risks.

View MORN analysis

Comparison highlights

  • Moat score gap: MercadoLibre, Inc. leads (73 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: MercadoLibre, Inc. has 2 segments (58.5% in Commerce (Marketplace, logistics, ads, classifieds)); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Moat breadth: MercadoLibre, Inc. has 6 moat types across 4 domains; Morningstar, Inc. has 6 across 3.

Primary market context

MercadoLibre, Inc.

Commerce (Marketplace, logistics, ads, classifieds)

Market

Latin American e-commerce marketplace and commerce services (online marketplace, 1P retail, fulfillment/logistics, advertising)

Geography

Latin America (Brazil, Mexico, Argentina and other countries)

Customer

Consumers (buyers) and merchants/brands (sellers), including MSMEs

Role

Marketplace operator + retailer + logistics orchestrator

Revenue share

58.5%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

MercadoLibre, Inc.
Morningstar, Inc.
Ticker / Exchange
MELI - NASDAQ
MORN - NASDAQ
Market cap (USD)
$110.4B
n/a
Gross margin (TTM)
45.1%
n/a
Operating margin (TTM)
12%
n/a
Net margin (TTM)
7.9%
n/a
Sector
Technology
Financials
Industry
Specialty Retail
n/a
HQ country
US
US
Primary segment
Commerce (Marketplace, logistics, ads, classifieds)
Morningstar Data and Analytics
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
73 / 100
67 / 100
Moat domains
Network, Supply, Demand, Legal
Demand, Network, Legal
Last update
2025-12-29
2026-01-10

Moat coverage

Shared moat types

Data Workflow Lockin

MercadoLibre, Inc. strengths

Two Sided NetworkEcosystem ComplementsDistribution ControlSwitching Costs GeneralCompliance Advantage

Morningstar, Inc. strengths

De Facto StandardRegulated Standards PipeSuite BundlingTraining Org Change CostsIP Choke Point

Segment mix

MercadoLibre, Inc. segments

Full profile >

Commerce (Marketplace, logistics, ads, classifieds)

Oligopoly

58.5%

Fintech (Mercado Pago & credit)

Competitive

41.5%

Morningstar, Inc. segments

Full profile >

Morningstar Data and Analytics

Oligopoly

34.6%

PitchBook

Oligopoly

27.2%

Morningstar Credit

Oligopoly

12.8%

Morningstar Wealth

Competitive

10.9%

Morningstar Retirement

Competitive

5.6%

Morningstar Sustainalytics

Oligopoly

5.2%

Morningstar Indexes

Oligopoly

3.7%

Want the full wide moat stocks list?

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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.