VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

PDD Holdings Inc. vs Constellation Brands, Inc.

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

PDD Holdings Inc.

PDD · NASDAQ

Market cap (USD)$146.8B
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

Constellation Brands, Inc.

STZ · New York Stock Exchange

Market cap (USD)$27.2B
Gross margin (TTM)52%
Operating margin (TTM)34.5%
Net margin (TTM)11.8%
SectorConsumer
IndustryBeverages - Wineries & Distilleries
CountryUS
Data as of2025-12-23
Moat score
76/ 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 Constellation Brands, Inc.'s moat claims, evidence, and risks.

View STZ analysis

Comparison highlights

  • Moat score gap: Constellation Brands, Inc. leads (76 / 100 vs 44 / 100 for PDD Holdings Inc.).
  • Segment focus: PDD Holdings Inc. has 2 segments; Constellation Brands, Inc. has 2 segments (83.7% in Beer).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: PDD Holdings Inc. has 4 moat types across 4 domains; Constellation Brands, Inc. has 4 across 3.

Primary market context

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

Constellation Brands, Inc.

Beer

Market

U.S. high-end beer (imported beer + above-premium American beer)

Geography

United States

Customer

Beer wholesalers/distributors; retailers; on-premise

Role

Importer/producer; marketer; supplier to distributors

Revenue share

83.7%

Side-by-side metrics

PDD Holdings Inc.
Constellation Brands, Inc.
Ticker / Exchange
PDD - NASDAQ
STZ - New York Stock Exchange
Market cap (USD)
$146.8B
$27.2B
Gross margin (TTM)
56.7%
52%
Operating margin (TTM)
22.1%
34.5%
Net margin (TTM)
24.4%
11.8%
Sector
Consumer
Consumer
Industry
Specialty Retail
Beverages - Wineries & Distilleries
HQ country
KY
US
Primary segment
Pinduoduo China marketplace
Beer
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
44 / 100
76 / 100
Moat domains
Network, Supply, Financial, Legal
Legal, Demand, Supply
Last update
2025-12-29
2025-12-23

Moat coverage

Shared moat types

No overlap yet.

PDD Holdings Inc. strengths

Two Sided NetworkScale Economies Unit CostFloat PrepaymentCompliance Advantage

Constellation Brands, Inc. strengths

Contractual ExclusivityBrand TrustDistribution ControlCapacity Moat

Segment mix

PDD Holdings Inc. segments

Full profile >

Pinduoduo China marketplace

Oligopoly

n/a

Temu international marketplace

Competitive

n/a

Constellation Brands, Inc. segments

Full profile >

Beer

Oligopoly

83.7%

Wine and Spirits

Competitive

16.4%

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.

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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.