VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Netflix, Inc. vs PDD Holdings Inc.

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

Netflix, Inc.

NFLX · NASDAQ

Market cap (USD)$387.5B
Gross margin (TTM)48.1%
Operating margin (TTM)29.1%
Net margin (TTM)24.1%
SectorCommunication Services
IndustryEntertainment
CountryUS
Data as of2026-01-05
Moat score
65/ 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 Netflix, Inc.'s moat claims, evidence, and risks.

View NFLX analysis

PDD Holdings Inc.

PDD · NASDAQ

Market cap (USD)$166.7B
Gross margin (TTM)56.7%
Operating margin (TTM)22.1%
Net margin (TTM)24.4%
SectorConsumer
IndustrySpecialty Retail
CountryKY
Data as of2025-12-29
Moat score
44/ 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 PDD Holdings Inc.'s moat claims, evidence, and risks.

View PDD analysis

Comparison highlights

  • Moat score gap: Netflix, Inc. leads (65 / 100 vs 44 / 100 for PDD Holdings Inc.).
  • Segment focus: Netflix, Inc. has 1 segment (100% in Streaming entertainment platform); PDD Holdings Inc. has 2 segments.
  • Moat breadth: Netflix, Inc. has 5 moat types across 4 domains; PDD Holdings Inc. has 4 across 4.

Primary market context

Netflix, Inc.

Streaming entertainment platform

Market

Paid streaming video entertainment (SVOD/AVOD)

Geography

Global

Customer

Consumers (B2C); advertisers via ad-supported inventory

Role

Streaming platform operator; content producer/licensor

Revenue share

100%

PDD Holdings Inc.

Pinduoduo China marketplace

Market

China online retail marketplace (value-for-money focus)

Geography

China

Customer

Consumers & third-party merchants

Role

Online marketplace platform

Side-by-side metrics

Netflix, Inc.
PDD Holdings Inc.
Ticker / Exchange
NFLX - NASDAQ
PDD - NASDAQ
Market cap (USD)
$387.5B
$166.7B
Gross margin (TTM)
48.1%
56.7%
Operating margin (TTM)
29.1%
22.1%
Net margin (TTM)
24.1%
24.4%
Sector
Communication Services
Consumer
Industry
Entertainment
Specialty Retail
HQ country
US
KY
Primary segment
Streaming entertainment platform
Pinduoduo China marketplace
Market structure
Oligopoly
Oligopoly
Market share
8.2%-8.4% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
65 / 100
44 / 100
Moat domains
Network, Supply, Legal, Financial
Network, Supply, Financial, Legal
Last update
2026-01-05
2025-12-29

Moat coverage

Shared moat types

Scale Economies Unit CostFloat Prepayment

Netflix, Inc. strengths

Data Network EffectsContent Rights CurrencyPhysical Network Density

PDD Holdings Inc. strengths

Two Sided NetworkCompliance Advantage

Segment mix

Netflix, Inc. segments

Full profile >

Streaming entertainment platform

Oligopoly

100%

PDD Holdings Inc. segments

Full profile >

Pinduoduo China marketplace

Oligopoly

n/a

Temu international marketplace

Competitive

n/a

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.