VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

PDD Holdings Inc. vs Texas Roadhouse, 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)$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

Texas Roadhouse, Inc.

TXRH · NASDAQ Global Select Market

Market cap (USD)$11.6B
Gross margin (TTM)16.7%
Operating margin (TTM)8.9%
Net margin (TTM)7.5%
SectorConsumer
IndustryRestaurants
CountryUS
Data as of2026-01-06
Moat score
66/ 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 Texas Roadhouse, Inc.'s moat claims, evidence, and risks.

View TXRH analysis

Comparison highlights

  • Moat score gap: Texas Roadhouse, Inc. leads (66 / 100 vs 44 / 100 for PDD Holdings Inc.).
  • Segment focus: PDD Holdings Inc. has 2 segments; Texas Roadhouse, Inc. has 3 segments (93.8% in Texas Roadhouse).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: PDD Holdings Inc. has 4 moat types across 4 domains; Texas Roadhouse, 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

Texas Roadhouse, Inc.

Texas Roadhouse

Market

Casual dining steakhouse restaurants

Geography

United States (plus international via franchise)

Customer

Consumers

Role

Restaurant operator & franchisor

Revenue share

93.8%

Side-by-side metrics

PDD Holdings Inc.
Texas Roadhouse, Inc.
Ticker / Exchange
PDD - NASDAQ
TXRH - NASDAQ Global Select Market
Market cap (USD)
$166.7B
$11.6B
Gross margin (TTM)
56.7%
16.7%
Operating margin (TTM)
22.1%
8.9%
Net margin (TTM)
24.4%
7.5%
Sector
Consumer
Consumer
Industry
Specialty Retail
Restaurants
HQ country
KY
US
Primary segment
Pinduoduo China marketplace
Texas Roadhouse
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
44 / 100
66 / 100
Moat domains
Network, Supply, Financial, Legal
Demand, Supply, Legal
Last update
2025-12-29
2026-01-06

Moat coverage

Shared moat types

No overlap yet.

PDD Holdings Inc. strengths

Two Sided NetworkScale Economies Unit CostFloat PrepaymentCompliance Advantage

Texas Roadhouse, Inc. strengths

Brand TrustOperational ExcellenceHabit DefaultIP Choke Point

Segment mix

PDD Holdings Inc. segments

Full profile >

Pinduoduo China marketplace

Oligopoly

n/a

Temu international marketplace

Competitive

n/a

Texas Roadhouse, Inc. segments

Full profile >

Texas Roadhouse

Competitive

93.8%

Bubba's 33

Competitive

5.6%

Other (Jaggers + retail initiatives)

Competitive

0.6%

Want the full wide moat stocks list?

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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.