VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Motorola Solutions, Inc. vs Ulta Beauty, Inc.

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

Motorola Solutions, Inc.

MSI · New York Stock Exchange

Market cap (USD)$63.8B
Gross margin (TTM)51%
Operating margin (TTM)25.4%
Net margin (TTM)18.7%
SectorTechnology
IndustryCommunication Equipment
CountryUS
Data as of2025-12-26
Moat score
68/ 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 Motorola Solutions, Inc.'s moat claims, evidence, and risks.

View MSI 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: Motorola Solutions, Inc. leads (68 / 100 vs 58 / 100 for Ulta Beauty, Inc.).
  • Segment focus: Motorola Solutions, Inc. has 3 segments (74.9% in LMR Communications); Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Motorola Solutions, Inc. has 10 moat types across 3 domains; Ulta Beauty, Inc. has 8 across 5.

Primary market context

Motorola Solutions, Inc.

LMR Communications

Market

Mission-critical land mobile radio (LMR) devices, infrastructure, and managed/support services

Geography

Global

Customer

Public safety agencies and mission-critical enterprises

Role

OEM + systems integrator + service provider

Revenue share

74.9%

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

Motorola Solutions, Inc.
Ulta Beauty, Inc.
Ticker / Exchange
MSI - New York Stock Exchange
ULTA - NASDAQ
Market cap (USD)
$63.8B
$29.9B
Gross margin (TTM)
51%
39.2%
Operating margin (TTM)
25.4%
13.2%
Net margin (TTM)
18.7%
9.9%
Sector
Technology
Consumer
Industry
Communication Equipment
Specialty Retail
HQ country
US
US
Primary segment
LMR Communications
Beauty Products Retail
Market structure
Oligopoly
Competitive
Market share
n/a
8%-10% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
68 / 100
58 / 100
Moat domains
Legal, Demand, Network
Demand, Supply, Legal, Network, Financial
Last update
2025-12-26
2026-01-06

Moat coverage

Shared moat types

Switching Costs GeneralSuite Bundling

Motorola Solutions, Inc. strengths

Government Contracting RelationshipsInstalled Base ConsumablesDesign In QualificationLong Term ContractsEcosystem ComplementsBrand TrustData Workflow LockinInteroperability Hub

Ulta Beauty, Inc. strengths

Physical Network DensityContractual ExclusivityPreferential Input AccessData Network EffectsTwo Sided NetworkFloat Prepayment

Segment mix

Motorola Solutions, Inc. segments

Full profile >

LMR Communications

Oligopoly

74.9%

Video Security & Access Control

Competitive

17.7%

Command Center Software

Competitive

7.4%

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.