VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Temenos AG vs Ulta Beauty, Inc.

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

Temenos AG

TEMN · SIX Swiss Exchange

Market cap (USD)$5.8B
Gross margin (TTM)68%
Operating margin (TTM)24.5%
Net margin (TTM)29.4%
SectorTechnology
IndustrySoftware - Application
CountryCH
Data as of2025-12-28
Moat score
64/ 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 Temenos AG's moat claims, evidence, and risks.

View TEMN 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: Temenos AG leads (64 / 100 vs 58 / 100 for Ulta Beauty, Inc.).
  • Segment focus: Temenos AG has 2 segments (87.6% in Product); Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Temenos AG has 6 moat types across 3 domains; Ulta Beauty, Inc. has 8 across 5.

Primary market context

Temenos AG

Product

Market

Banking software platforms (core banking, digital banking, payments, wealth, financial crime, analytics) for banks and financial institutions

Geography

Global

Customer

Banks and financial institutions

Role

Independent software vendor / platform provider

Revenue share

87.6%

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

Temenos AG
Ulta Beauty, Inc.
Ticker / Exchange
TEMN - SIX Swiss Exchange
ULTA - NASDAQ
Market cap (USD)
$5.8B
$29.9B
Gross margin (TTM)
68%
39.2%
Operating margin (TTM)
24.5%
13.2%
Net margin (TTM)
29.4%
9.9%
Sector
Technology
Consumer
Industry
Software - Application
Specialty Retail
HQ country
CH
US
Primary segment
Product
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
64 / 100
58 / 100
Moat domains
Demand, Network, Supply
Demand, Supply, Legal, Network, Financial
Last update
2025-12-28
2026-01-06

Moat coverage

Shared moat types

Suite Bundling

Temenos AG strengths

Training Org Change CostsEcosystem ComplementsLong Term ContractsBrand TrustOperational Excellence

Ulta Beauty, Inc. strengths

Switching Costs GeneralPhysical Network DensityContractual ExclusivityPreferential Input AccessData Network EffectsTwo Sided NetworkFloat Prepayment

Segment mix

Temenos AG segments

Full profile >

Product

Oligopoly

87.6%

Services

Competitive

12.4%

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.