VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Pernod Ricard SA vs Ulta Beauty, Inc.

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

Pernod Ricard SA

RI · Euronext Paris

Market cap (USD)$18.8B
Gross margin (TTM)59.8%
Operating margin (TTM)11.5%
Net margin (TTM)13.8%
SectorConsumer
IndustryBeverages - Wineries & Distilleries
CountryFR
Data as of2025-12-29
Moat score
75/ 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 Pernod Ricard SA's moat claims, evidence, and risks.

View RI 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: Pernod Ricard SA leads (75 / 100 vs 58 / 100 for Ulta Beauty, Inc.).
  • Segment focus: Pernod Ricard SA has 3 segments (42.3% in Asia/Rest of the World); Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Pernod Ricard SA has 4 moat types across 2 domains; Ulta Beauty, Inc. has 8 across 5.

Primary market context

Pernod Ricard SA

Asia/Rest of the World

Market

Premium spirits brand ownership, marketing, and distribution

Geography

Asia-Pacific, Africa, and other emerging markets

Customer

On-trade, off-trade, distributors, and duty-free operators

Role

Brand owner and local-market route-to-market operator

Revenue share

42.3%

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

Pernod Ricard SA
Ulta Beauty, Inc.
Ticker / Exchange
RI - Euronext Paris
ULTA - NASDAQ
Market cap (USD)
$18.8B
$29.9B
Gross margin (TTM)
59.8%
39.2%
Operating margin (TTM)
11.5%
13.2%
Net margin (TTM)
13.8%
9.9%
Sector
Consumer
Consumer
Industry
Beverages - Wineries & Distilleries
Specialty Retail
HQ country
FR
US
Primary segment
Asia/Rest of the World
Beauty Products Retail
Market structure
Oligopoly
Competitive
Market share
n/a
8%-10% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
75 / 100
58 / 100
Moat domains
Demand, Supply
Demand, Supply, Legal, Network, Financial
Last update
2025-12-29
2026-01-06

Moat coverage

Shared moat types

No overlap yet.

Pernod Ricard SA strengths

Brand TrustScope EconomiesCapacity MoatDistribution Control

Ulta Beauty, Inc. strengths

Switching Costs GeneralPhysical Network DensityContractual ExclusivityPreferential Input AccessSuite BundlingData Network EffectsTwo Sided NetworkFloat Prepayment

Segment mix

Pernod Ricard SA segments

Full profile >

Europe

Oligopoly

28.9%

Americas

Oligopoly

28.8%

Asia/Rest of the World

Oligopoly

42.3%

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?

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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.