VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

The Trade Desk, Inc. vs Xero Limited

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)$18.5B
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

Xero Limited

XRO · Australian Securities Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryNZ
Data as of2026-01-02
Moat score
71/ 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 Xero Limited's moat claims, evidence, and risks.

View XRO analysis

Comparison highlights

  • Moat score gap: Xero Limited leads (71 / 100 vs 62 / 100 for The Trade Desk, Inc.).
  • Segment focus: The Trade Desk, Inc. has 1 segment (100% in Advertising Technology Platform (DSP)); Xero Limited has 2 segments.
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: The Trade Desk, Inc. has 4 moat types across 2 domains; Xero Limited has 7 across 3.

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%

Xero Limited

Core Accounting Subscription Platform

Market

Cloud accounting software for small businesses and their advisors

Geography

Global

Customer

SMB; accountants & bookkeepers

Role

Software platform (SaaS)

Side-by-side metrics

The Trade Desk, Inc.
Xero Limited
Ticker / Exchange
TTD - NASDAQ
XRO - Australian Securities Exchange
Market cap (USD)
$18.5B
n/a
Gross margin (TTM)
78.8%
n/a
Operating margin (TTM)
18.9%
n/a
Net margin (TTM)
15.7%
n/a
Sector
Communication Services
Technology
Industry
Software - Application
n/a
HQ country
US
NZ
Primary segment
Advertising Technology Platform (DSP)
Core Accounting Subscription Platform
Market structure
Competitive
Oligopoly
Market share
6%-10% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
62 / 100
71 / 100
Moat domains
Network, Demand
Demand, Network, Financial
Last update
2025-12-26
2026-01-02

Moat coverage

Shared moat types

Interoperability HubSwitching Costs General

The Trade Desk, Inc. strengths

Data Network EffectsStandards Registry

Xero Limited strengths

Data Workflow LockinTwo Sided NetworkBenchmark Pricing PowerEcosystem ComplementsSuite Bundling

Segment mix

The Trade Desk, Inc. segments

Full profile >

Advertising Technology Platform (DSP)

Competitive

100%

Xero Limited segments

Full profile >

Core Accounting Subscription Platform

Oligopoly

n/a

Platform Services (Payments, Payroll, App Ecosystem)

Competitive

n/a

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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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.