VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Republic Services, Inc. vs Ulta Beauty, Inc.

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

Republic Services, Inc.

RSG · New York Stock Exchange

Market cap (USD)$66.4B
Gross margin (TTM)30.6%
Operating margin (TTM)20.1%
Net margin (TTM)12.8%
SectorIndustrials
IndustryWaste Management
CountryUS
Data as of2025-12-31
Moat score
80/ 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 Republic Services, Inc.'s moat claims, evidence, and risks.

View RSG 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: Republic Services, Inc. leads (80 / 100 vs 58 / 100 for Ulta Beauty, Inc.).
  • Segment focus: Republic Services, Inc. has 2 segments (88.5% in Recycling & Waste Services); Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail).
  • Moat breadth: Republic Services, Inc. has 7 moat types across 3 domains; Ulta Beauty, Inc. has 8 across 5.

Primary market context

Republic Services, Inc.

Recycling & Waste Services

Market

Integrated non-hazardous solid waste collection, transfer, landfill disposal & recycling services

Geography

United States and Canada

Customer

Municipal, commercial, industrial

Role

Integrated hauler and disposal operator

Revenue share

88.5%

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

Republic Services, Inc.
Ulta Beauty, Inc.
Ticker / Exchange
RSG - New York Stock Exchange
ULTA - NASDAQ
Market cap (USD)
$66.4B
$29.9B
Gross margin (TTM)
30.6%
39.2%
Operating margin (TTM)
20.1%
13.2%
Net margin (TTM)
12.8%
9.9%
Sector
Industrials
Consumer
Industry
Waste Management
Specialty Retail
HQ country
US
US
Primary segment
Recycling & Waste Services
Beauty Products Retail
Market structure
Competitive
Competitive
Market share
12%-15% (implied)
8%-10% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
80 / 100
58 / 100
Moat domains
Legal, Supply, Demand
Demand, Supply, Legal, Network, Financial
Last update
2025-12-31
2026-01-06

Moat coverage

Shared moat types

Physical Network Density

Republic Services, Inc. strengths

Permits Rights Of WayCapacity MoatScope EconomiesLong Term ContractsCompliance AdvantageService Field Network

Ulta Beauty, Inc. strengths

Switching Costs GeneralContractual ExclusivityPreferential Input AccessSuite BundlingData Network EffectsTwo Sided NetworkFloat Prepayment

Segment mix

Republic Services, Inc. segments

Full profile >

Recycling & Waste Services

Competitive

88.5%

Environmental Solutions

Competitive

11.5%

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.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.