VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Shopify Inc. vs WiseTech Global Limited

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

Shopify Inc.

SHOP · Nasdaq Global Select Market

Market cap (USD)$163.7B
Gross margin (TTM)48.1%
Operating margin (TTM)12.7%
Net margin (TTM)10.7%
SectorTechnology
IndustrySoftware - Application
CountryCA
Data as of2026-04-25
Moat score
73/ 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 Shopify Inc.'s moat claims, evidence, and risks.

View SHOP analysis

WiseTech Global Limited

WTC · ASX

Market cap (USD)$10.7B
Gross margin (TTM)79.1%
Operating margin (TTM)34.6%
Net margin (TTM)20.2%
SectorTechnology
IndustrySoftware - Application
CountryAU
Data as of2025-12-29
Moat score
86/ 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 WiseTech Global Limited's moat claims, evidence, and risks.

View WTC analysis

Comparison highlights

  • Moat score gap: WiseTech Global Limited leads (86 / 100 vs 73 / 100 for Shopify Inc.).
  • Segment focus: Shopify Inc. has 2 segments (76.2% in Merchant Solutions); WiseTech Global Limited has 3 segments (87.6% in CargoWise).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Shopify Inc. has 7 moat types across 3 domains; WiseTech Global Limited has 6 across 2.

Primary market context

Shopify Inc.

Merchant Solutions

Market

Integrated merchant payments, checkout, lending, shipping, POS hardware, partner referrals, ads and buyer-acquisition services for Shopify merchants

Geography

Global, with Shopify Payments and related solutions available across selected countries

Customer

Shopify merchants, Shopify Plus merchants, retail operators and buyers using Shop Pay or Shop App

Role

Embedded payments, checkout, fintech, fulfillment-adjacent and commerce-services layer attached to Shopify storefronts

Revenue share

76.2%

WiseTech Global Limited

CargoWise

Market

Enterprise logistics execution software for freight forwarders, customs brokers and 3PLs (CargoWise platform)

Geography

Global

Customer

Logistics service providers (freight forwarders, customs brokers, 3PLs)

Role

SaaS software platform vendor

Revenue share

87.6%

Side-by-side metrics

Shopify Inc.
WiseTech Global Limited
Ticker / Exchange
SHOP - Nasdaq Global Select Market
WTC - ASX
Market cap (USD)
$163.7B
$10.7B
Gross margin (TTM)
48.1%
79.1%
Operating margin (TTM)
12.7%
34.6%
Net margin (TTM)
10.7%
20.2%
Sector
Technology
Technology
Industry
Software - Application
Software - Application
HQ country
CA
AU
Primary segment
Merchant Solutions
CargoWise
Market structure
Competitive
Oligopoly
Market share
65.6% (reported)
96% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
73 / 100
86 / 100
Moat domains
Network, Demand, Supply
Demand, Network
Last update
2026-04-25
2025-12-29

Moat coverage

Shared moat types

Ecosystem ComplementsData Workflow LockinSuite Bundling

Shopify Inc. strengths

Brand TrustKeystone ComponentHabit DefaultScale Economies Unit Cost

WiseTech Global Limited strengths

Legacy installed-base tailTwo Sided NetworkData Network Effects

Segment mix

Shopify Inc. segments

Full profile >

Subscription Solutions

Competitive

23.8%

Merchant Solutions

Competitive

76.2%

WiseTech Global Limited segments

Full profile >

CargoWise

Oligopoly

87.6%

Non-CargoWise acquired platforms (legacy)

Competitive

12.4%

e2open (multi-enterprise supply chain applications & network; acquired)

Oligopoly

n/a

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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.