VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

RELX PLC vs Ulta Beauty, Inc.

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

RELX PLC

REL · London Stock Exchange

Market cap (USD)$57.8B
Gross margin (TTM)64%
Operating margin (TTM)30.7%
Net margin (TTM)20.3%
SectorIndustrials
IndustryPublishing
CountryGB
Data as of2025-12-30
Moat score
78/ 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 RELX PLC's moat claims, evidence, and risks.

View REL analysis

Ulta Beauty, Inc.

ULTA · NASDAQ

Market cap (USD)$29.9B
Gross margin (TTM)39.2%
Operating margin (TTM)13.2%
Net margin (TTM)9.9%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2026-01-06
Moat score
58/ 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 Ulta Beauty, Inc.'s moat claims, evidence, and risks.

View ULTA analysis

Comparison highlights

  • Moat score gap: RELX PLC leads (78 / 100 vs 58 / 100 for Ulta Beauty, Inc.).
  • Segment focus: RELX PLC has 4 segments (34.4% in Risk); Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: RELX PLC has 8 moat types across 3 domains; Ulta Beauty, Inc. has 8 across 5.

Primary market context

RELX PLC

Risk

Market

Risk analytics & decisioning platforms (fraud/identity, financial crime compliance, insurance underwriting/claims, industry data)

Geography

Global (largest in North America)

Customer

Enterprises (banks, insurers, digital commerce), governments, and other regulated industries

Role

Data/analytics provider and workflow platform

Revenue share

34.4%

Ulta Beauty, Inc.

Beauty Products Retail

Market

U.S. beauty products retail (specialty omnichannel beauty retailer)

Geography

United States

Customer

Consumers (end-users) shopping in-store and online

Role

Specialty retailer / distributor

Revenue share

94%

Side-by-side metrics

RELX PLC
Ulta Beauty, Inc.
Ticker / Exchange
REL - London Stock Exchange
ULTA - NASDAQ
Market cap (USD)
$57.8B
$29.9B
Gross margin (TTM)
64%
39.2%
Operating margin (TTM)
30.7%
13.2%
Net margin (TTM)
20.3%
9.9%
Sector
Industrials
Consumer
Industry
Publishing
Specialty Retail
HQ country
GB
US
Primary segment
Risk
Beauty Products Retail
Market structure
Oligopoly
Competitive
Market share
n/a
8%-10% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
78 / 100
58 / 100
Moat domains
Network, Demand, Legal
Demand, Supply, Legal, Network, Financial
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Data Network EffectsSuite BundlingTwo Sided Network

RELX PLC strengths

Data Workflow LockinCompliance AdvantageContent Rights CurrencyBrand TrustReputation Reviews

Ulta Beauty, Inc. strengths

Switching Costs GeneralPhysical Network DensityContractual ExclusivityPreferential Input AccessFloat Prepayment

Segment mix

RELX PLC segments

Full profile >

Risk

Oligopoly

34.4%

Scientific, Technical & Medical

Oligopoly

32.3%

Legal

Oligopoly

20.1%

Exhibitions

Competitive

13.1%

Ulta Beauty, Inc. segments

Full profile >

Beauty Products Retail

Competitive

94%

Beauty Services

Competitive

4%

Platform Monetization (Retail Media, Credit Cards, Partner Royalties, Deferred Revenue)

Competitive

2%

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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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.