VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

PDD Holdings Inc. vs Transurban Group

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

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

Transurban Group

TCL · Australian Securities Exchange

Market cap (USD)$42.6B
Gross margin (TTM)43.4%
Operating margin (TTM)39.4%
Net margin (TTM)5.8%
SectorIndustrials
IndustryIndustrial - Infrastructure Operations
CountryAU
Data as of2026-01-04
Moat score
91/ 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 Transurban Group's moat claims, evidence, and risks.

View TCL analysis

Comparison highlights

  • Moat score gap: Transurban Group leads (91 / 100 vs 44 / 100 for PDD Holdings Inc.).
  • Segment focus: PDD Holdings Inc. has 2 segments; Transurban Group has 4 segments (49.5% in Sydney toll roads).
  • Primary market structure: Oligopoly vs Quasi-Monopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: PDD Holdings Inc. has 4 moat types across 4 domains; Transurban Group has 3 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

Transurban Group

Sydney toll roads

Market

Urban toll-road concessions (Sydney)

Geography

Sydney, New South Wales, Australia

Customer

Motorists and commercial fleet operators

Role

Concessionaire / operator and developer

Revenue share

49.5%

Side-by-side metrics

PDD Holdings Inc.
Transurban Group
Ticker / Exchange
PDD - NASDAQ
TCL - Australian Securities Exchange
Market cap (USD)
$166.7B
$42.6B
Gross margin (TTM)
56.7%
43.4%
Operating margin (TTM)
22.1%
39.4%
Net margin (TTM)
24.4%
5.8%
Sector
Consumer
Industrials
Industry
Specialty Retail
Industrial - Infrastructure Operations
HQ country
KY
AU
Primary segment
Pinduoduo China marketplace
Sydney toll roads
Market structure
Oligopoly
Quasi-Monopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
44 / 100
91 / 100
Moat domains
Network, Supply, Financial, Legal
Legal, Financial, Demand
Last update
2025-12-29
2026-01-04

Moat coverage

Shared moat types

No overlap yet.

PDD Holdings Inc. strengths

Two Sided NetworkScale Economies Unit CostFloat PrepaymentCompliance Advantage

Transurban Group strengths

Concession LicenseBenchmark Pricing PowerDynamic congestion pricing

Segment mix

PDD Holdings Inc. segments

Full profile >

Pinduoduo China marketplace

Oligopoly

n/a

Temu international marketplace

Competitive

n/a

Transurban Group segments

Full profile >

Sydney toll roads

Quasi-Monopoly

49.5%

Melbourne toll roads

Quasi-Monopoly

26.5%

Brisbane toll roads

Quasi-Monopoly

16%

North America managed lanes and concessions

Quasi-Monopoly

8.1%

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.