VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

The Trade Desk, Inc. vs Ulta Beauty, Inc.

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

The Trade Desk, Inc.

TTD · NASDAQ

Market cap (USD)$18.3B
Gross margin (TTM)78.8%
Operating margin (TTM)18.9%
Net margin (TTM)15.7%
SectorCommunication Services
IndustrySoftware - Application
CountryUS
Data as of2025-12-26
Moat score
62/ 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 The Trade Desk, Inc.'s moat claims, evidence, and risks.

View TTD 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: The Trade Desk, Inc. leads (62 / 100 vs 58 / 100 for Ulta Beauty, Inc.).
  • Segment focus: The Trade Desk, Inc. has 1 segment (100% in Advertising Technology Platform (DSP)); Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail).
  • Moat breadth: The Trade Desk, Inc. has 4 moat types across 2 domains; Ulta Beauty, Inc. has 8 across 5.

Primary market context

The Trade Desk, Inc.

Advertising Technology Platform (DSP)

Market

Demand-side platforms (DSP) for programmatic advertising (open internet)

Geography

Global

Customer

Advertising agencies and advertisers

Role

Buy-side platform / demand aggregation

Revenue share

100%

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

The Trade Desk, Inc.
Ulta Beauty, Inc.
Ticker / Exchange
TTD - NASDAQ
ULTA - NASDAQ
Market cap (USD)
$18.3B
$29.9B
Gross margin (TTM)
78.8%
39.2%
Operating margin (TTM)
18.9%
13.2%
Net margin (TTM)
15.7%
9.9%
Sector
Communication Services
Consumer
Industry
Software - Application
Specialty Retail
HQ country
US
US
Primary segment
Advertising Technology Platform (DSP)
Beauty Products Retail
Market structure
Competitive
Competitive
Market share
6%-10% (implied)
8%-10% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
62 / 100
58 / 100
Moat domains
Network, Demand
Demand, Supply, Legal, Network, Financial
Last update
2025-12-26
2026-01-06

Moat coverage

Shared moat types

Switching Costs GeneralData Network Effects

The Trade Desk, Inc. strengths

Interoperability HubStandards Registry

Ulta Beauty, Inc. strengths

Physical Network DensityContractual ExclusivityPreferential Input AccessSuite BundlingTwo Sided NetworkFloat Prepayment

Segment mix

The Trade Desk, Inc. segments

Full profile >

Advertising Technology Platform (DSP)

Competitive

100%

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.