VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Norfolk Southern Corporation vs PDD Holdings Inc.

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

Norfolk Southern Corporation

NSC · New York Stock Exchange

Market cap (USD)$65B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
IndustryRailroads
CountryUS
Data as of2026-01-02
Moat score
70/ 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 Norfolk Southern Corporation's moat claims, evidence, and risks.

View NSC analysis

PDD Holdings Inc.

PDD · NASDAQ

Market cap (USD)$162.7B
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: Norfolk Southern Corporation leads (70 / 100 vs 44 / 100 for PDD Holdings Inc.).
  • Segment focus: Norfolk Southern Corporation has 3 segments (62% in Merchandise); PDD Holdings Inc. has 2 segments.
  • Moat breadth: Norfolk Southern Corporation has 4 moat types across 3 domains; PDD Holdings Inc. has 4 across 4.

Primary market context

Norfolk Southern Corporation

Merchandise

Market

Eastern U.S. freight rail transportation for industrial & consumer goods

Geography

United States (Southeast/East/Midwest; NS network + interchanges)

Customer

Manufacturers, producers, and distributors

Role

Rail carrier

Revenue share

62%

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

Norfolk Southern Corporation
PDD Holdings Inc.
Ticker / Exchange
NSC - New York Stock Exchange
PDD - NASDAQ
Market cap (USD)
$65B
$162.7B
Gross margin (TTM)
n/a
56.7%
Operating margin (TTM)
n/a
22.1%
Net margin (TTM)
n/a
24.4%
Sector
Industrials
Consumer
Industry
Railroads
Specialty Retail
HQ country
US
KY
Primary segment
Merchandise
Pinduoduo China marketplace
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
70 / 100
44 / 100
Moat domains
Supply, Legal, Demand
Network, Supply, Financial, Legal
Last update
2026-01-02
2025-12-29

Moat coverage

Shared moat types

Scale Economies Unit Cost

Norfolk Southern Corporation strengths

Physical Network DensityPermits Rights Of WaySwitching Costs General

PDD Holdings Inc. strengths

Two Sided NetworkFloat PrepaymentCompliance Advantage

Segment mix

Norfolk Southern Corporation segments

Full profile >

Merchandise

Oligopoly

62%

Intermodal

Oligopoly

25%

Coal

Oligopoly

13%

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?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.