VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Sea Limited vs Waste Management, Inc.

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

Sea Limited

SE · New York Stock Exchange

Market cap (USD)$82.8B
Gross margin (TTM)44.9%
Operating margin (TTM)8.2%
Net margin (TTM)6.8%
SectorConsumer
IndustrySpecialty Retail
CountrySG
Data as of2026-01-06
Moat score
69/ 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 Sea Limited's moat claims, evidence, and risks.

View SE analysis

Waste Management, Inc.

WM · New York Stock Exchange

Market cap (USD)$88.4B
Gross margin (TTM)28.9%
Operating margin (TTM)17.6%
Net margin (TTM)10.4%
SectorIndustrials
IndustryWaste Management
CountryUS
Data as of2025-12-31
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 Waste Management, Inc.'s moat claims, evidence, and risks.

View WM analysis

Comparison highlights

  • Moat score gap: Waste Management, Inc. leads (79 / 100 vs 69 / 100 for Sea Limited).
  • Segment focus: Sea Limited has 3 segments (73.8% in Shopee (E-commerce)); Waste Management, Inc. has 4 segments (82.2% in Collection and Disposal).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Sea Limited has 6 moat types across 3 domains; Waste Management, Inc. has 7 across 3.

Primary market context

Sea Limited

Shopee (E-commerce)

Market

E-commerce marketplace and related value-added services

Geography

Southeast Asia, Taiwan, Brazil

Customer

Consumers and sellers

Role

Marketplace operator

Revenue share

73.8%

Waste Management, Inc.

Collection and Disposal

Market

Municipal, commercial, and industrial solid waste collection, transfer, and landfill disposal

Geography

North America (primarily US and Canada)

Customer

Municipalities and end-customers (residential, commercial, industrial) via direct and contract channels

Role

Integrated hauler + transfer + landfill owner/operator

Revenue share

82.2%

Side-by-side metrics

Sea Limited
Waste Management, Inc.
Ticker / Exchange
SE - New York Stock Exchange
WM - New York Stock Exchange
Market cap (USD)
$82.8B
$88.4B
Gross margin (TTM)
44.9%
28.9%
Operating margin (TTM)
8.2%
17.6%
Net margin (TTM)
6.8%
10.4%
Sector
Consumer
Industrials
Industry
Specialty Retail
Waste Management
HQ country
SG
US
Primary segment
Shopee (E-commerce)
Collection and Disposal
Market structure
Oligopoly
Oligopoly
Market share
52% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
69 / 100
79 / 100
Moat domains
Network, Supply, Legal
Legal, Supply, Demand
Last update
2026-01-06
2025-12-31

Moat coverage

Shared moat types

Regulated Standards Pipe

Sea Limited strengths

Two Sided NetworkDistribution ControlEcosystem ComplementsDirect Network EffectsContractual Exclusivity

Waste Management, Inc. strengths

Permits Rights Of WayCapacity MoatPricing power via yield management and contracted rate actionsOperational ExcellencePreferential Input AccessPhysical Network Density

Segment mix

Sea Limited segments

Full profile >

Shopee (E-commerce)

Oligopoly

73.8%

SeaMoney (Digital Financial Services)

Competitive

14.1%

Garena (Digital Entertainment)

Competitive

11.4%

Waste Management, Inc. segments

Full profile >

Collection and Disposal

Oligopoly

82.2%

Recycling Processing and Sales

Competitive

6%

WM Renewable Energy

Competitive

1.7%

WM Healthcare Solutions

Oligopoly

10%

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.