VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Microsoft Corporation vs Ulta Beauty, Inc.

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

Microsoft Corporation

MSFT · Nasdaq Global Select Market

Market cap (USD)$3.6T
Gross margin (TTM)68.8%
Operating margin (TTM)46.3%
Net margin (TTM)35.7%
SectorTechnology
IndustrySoftware - Infrastructure
CountryUS
Data as of2025-12-21
Moat score
84/ 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 Microsoft Corporation's moat claims, evidence, and risks.

View MSFT 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: Microsoft Corporation leads (84 / 100 vs 58 / 100 for Ulta Beauty, Inc.).
  • Segment focus: Microsoft Corporation has 3 segments (42.9% in Productivity and Business Processes); Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: Microsoft Corporation has 9 moat types across 4 domains; Ulta Beauty, Inc. has 8 across 5.

Primary market context

Microsoft Corporation

Productivity and Business Processes

Market

Enterprise productivity & collaboration suites, business applications, and professional network platforms

Geography

Global

Customer

Enterprises, SMBs, consumers, recruiters/advertisers

Role

SaaS platform + professional network

Revenue share

42.9%

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

Microsoft Corporation
Ulta Beauty, Inc.
Ticker / Exchange
MSFT - Nasdaq Global Select Market
ULTA - NASDAQ
Market cap (USD)
$3.6T
$29.9B
Gross margin (TTM)
68.8%
39.2%
Operating margin (TTM)
46.3%
13.2%
Net margin (TTM)
35.7%
9.9%
Sector
Technology
Consumer
Industry
Software - Infrastructure
Specialty Retail
HQ country
US
US
Primary segment
Productivity and Business Processes
Beauty Products Retail
Market structure
Oligopoly
Competitive
Market share
n/a
8%-10% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
84 / 100
58 / 100
Moat domains
Demand, Network, Supply, Legal
Demand, Supply, Legal, Network, Financial
Last update
2025-12-21
2026-01-06

Moat coverage

Shared moat types

Suite BundlingTwo Sided Network

Microsoft Corporation strengths

Data Workflow LockinLong Term ContractsCapex Knowhow ScaleEcosystem ComplementsOperational ExcellenceDefault OS GatewayContent Rights Currency

Ulta Beauty, Inc. strengths

Switching Costs GeneralPhysical Network DensityContractual ExclusivityPreferential Input AccessData Network EffectsFloat Prepayment

Segment mix

Microsoft Corporation segments

Full profile >

Productivity and Business Processes

Oligopoly

42.9%

Intelligent Cloud

Oligopoly

37.7%

More Personal Computing

Quasi-Monopoly

19.4%

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.

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.