VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

MercadoLibre, Inc. vs Sea Limited

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

MercadoLibre, Inc.

MELI · NASDAQ

Market cap (USD)$108.9B
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

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: MercadoLibre, Inc. leads (73 / 100 vs 69 / 100 for Sea Limited).
  • Segment focus: MercadoLibre, Inc. has 2 segments (58.5% in Commerce (Marketplace, logistics, ads, classifieds)); Sea Limited has 3 segments (73.8% in Shopee (E-commerce)).
  • Moat breadth: MercadoLibre, Inc. has 6 moat types across 4 domains; Sea Limited 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%

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

MercadoLibre, Inc.
Sea Limited
Ticker / Exchange
MELI - NASDAQ
SE - New York Stock Exchange
Market cap (USD)
$108.9B
$82.8B
Gross margin (TTM)
45.1%
44.9%
Operating margin (TTM)
12%
8.2%
Net margin (TTM)
7.9%
6.8%
Sector
Technology
Consumer
Industry
Specialty Retail
Specialty Retail
HQ country
US
SG
Primary segment
Commerce (Marketplace, logistics, ads, classifieds)
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
Network, Supply, Demand, Legal
Network, Supply, Legal
Last update
2025-12-29
2026-01-06

Moat coverage

Shared moat types

Two Sided NetworkEcosystem ComplementsDistribution Control

MercadoLibre, Inc. strengths

Switching Costs GeneralData Workflow LockinCompliance Advantage

Sea Limited strengths

Regulated Standards PipeDirect Network EffectsContractual Exclusivity

Segment mix

MercadoLibre, Inc. segments

Full profile >

Commerce (Marketplace, logistics, ads, classifieds)

Oligopoly

58.5%

Fintech (Mercado Pago & credit)

Competitive

41.5%

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?

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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.