VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Saturday, January 10, 2026

Stock Comparison

Hermes International Societe en commandite par actions vs Ulta Beauty, Inc.

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

Hermes International Societe en commandite par actions

RMS · Euronext Paris

Market cap (USD)$232.4B
Gross margin (TTM)68.6%
Operating margin (TTM)41%
Net margin (TTM)29.9%
SectorConsumer
IndustryLuxury Goods
CountryFR
Data as of2025-12-30
Moat score
79/ 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 Hermes International Societe en commandite par actions's moat claims, evidence, and risks.

View RMS 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: Hermes International Societe en commandite par actions leads (79 / 100 vs 58 / 100 for Ulta Beauty, Inc.).
  • Segment focus: Hermes International Societe en commandite par actions has 7 segments (42.6% in Leather Goods and Saddlery); Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: Hermes International Societe en commandite par actions has 5 moat types across 2 domains; Ulta Beauty, Inc. has 8 across 5.

Primary market context

Hermes International Societe en commandite par actions

Leather Goods and Saddlery

Market

Ultra-premium leather goods and luxury handbags

Geography

Global

Customer

Affluent consumers

Role

Brand owner, artisan manufacturer, direct retailer

Revenue share

42.6%

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

Hermes International Societe en commandite par actions
Ulta Beauty, Inc.
Ticker / Exchange
RMS - Euronext Paris
ULTA - NASDAQ
Market cap (USD)
$232.4B
$29.9B
Gross margin (TTM)
68.6%
39.2%
Operating margin (TTM)
41%
13.2%
Net margin (TTM)
29.9%
9.9%
Sector
Consumer
Consumer
Industry
Luxury Goods
Specialty Retail
HQ country
FR
US
Primary segment
Leather Goods and Saddlery
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
79 / 100
58 / 100
Moat domains
Demand, Supply
Demand, Supply, Legal, Network, Financial
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

No overlap yet.

Hermes International Societe en commandite par actions strengths

Brand TrustCapacity MoatSupply Chain ControlDistribution ControlOperational Excellence

Ulta Beauty, Inc. strengths

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

Segment mix

Hermes International Societe en commandite par actions segments

Full profile >

Leather Goods and Saddlery

Oligopoly

42.6%

Ready-to-wear and Accessories

Competitive

29%

Silk and Textiles

Competitive

6.3%

Other Hermes sectors (Jewelry, Home, etc.)

Competitive

12.6%

Perfume and Beauty

Competitive

3.5%

Watches

Competitive

3.8%

Other products (Third-party production)

Competitive

2.2%

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.