VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

Stock Comparison

Ulta Beauty, Inc. vs WiseTech Global Limited

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

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

WiseTech Global Limited

WTC · ASX

Market cap (USD)$22.2B
Gross margin (TTM)83.6%
Operating margin (TTM)37.2%
Net margin (TTM)25.6%
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 58 / 100 for Ulta Beauty, Inc.).
  • Segment focus: Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail); WiseTech Global Limited has 3 segments (87.6% in CargoWise).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Ulta Beauty, Inc. has 8 moat types across 5 domains; WiseTech Global Limited has 6 across 2.

Primary market context

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%

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

Ulta Beauty, Inc.
WiseTech Global Limited
Ticker / Exchange
ULTA - NASDAQ
WTC - ASX
Market cap (USD)
$29.9B
$22.2B
Gross margin (TTM)
39.2%
83.6%
Operating margin (TTM)
13.2%
37.2%
Net margin (TTM)
9.9%
25.6%
Sector
Consumer
Technology
Industry
Specialty Retail
Software - Application
HQ country
US
AU
Primary segment
Beauty Products Retail
CargoWise
Market structure
Competitive
Oligopoly
Market share
8%-10% (reported)
96% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
58 / 100
86 / 100
Moat domains
Demand, Supply, Legal, Network, Financial
Demand, Network
Last update
2026-01-06
2025-12-29

Moat coverage

Shared moat types

Suite BundlingData Network EffectsTwo Sided Network

Ulta Beauty, Inc. strengths

Switching Costs GeneralPhysical Network DensityContractual ExclusivityPreferential Input AccessFloat Prepayment

WiseTech Global Limited strengths

Data Workflow LockinEcosystem ComplementsLegacy installed-base tail

Segment mix

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%

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

Want the full wide moat stocks list?

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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.