VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Ulta Beauty, Inc. vs Zoetis Inc.

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

Zoetis Inc.

ZTS · New York Stock Exchange

Market cap (USD)$56B
Gross margin (TTM)70.6%
Operating margin (TTM)37.6%
Net margin (TTM)28.2%
SectorHealthcare
IndustryDrug Manufacturers - Specialty & Generic
CountryUS
Data as of2025-12-26
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 Zoetis Inc.'s moat claims, evidence, and risks.

View ZTS analysis

Comparison highlights

  • Moat score gap: Zoetis Inc. leads (73 / 100 vs 58 / 100 for Ulta Beauty, Inc.).
  • Segment focus: Ulta Beauty, Inc. has 3 segments (94% in Beauty Products Retail); Zoetis Inc. has 3 segments (67.8% in Companion Animal Products).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Ulta Beauty, Inc. has 8 moat types across 5 domains; Zoetis Inc. has 9 across 3.

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%

Zoetis Inc.

Companion Animal Products

Market

Companion animal veterinary medicines, vaccines and diagnostics

Geography

Global

Customer

Veterinarians, veterinary clinics, pet owners (via prescription/retail)

Role

Manufacturer and marketer

Revenue share

67.8%

Side-by-side metrics

Ulta Beauty, Inc.
Zoetis Inc.
Ticker / Exchange
ULTA - NASDAQ
ZTS - New York Stock Exchange
Market cap (USD)
$29.9B
$56B
Gross margin (TTM)
39.2%
70.6%
Operating margin (TTM)
13.2%
37.6%
Net margin (TTM)
9.9%
28.2%
Sector
Consumer
Healthcare
Industry
Specialty Retail
Drug Manufacturers - Specialty & Generic
HQ country
US
US
Primary segment
Beauty Products Retail
Companion Animal Products
Market structure
Competitive
Oligopoly
Market share
8%-10% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
58 / 100
73 / 100
Moat domains
Demand, Supply, Legal, Network, Financial
Demand, Supply, Legal
Last update
2026-01-06
2025-12-26

Moat coverage

Shared moat types

No overlap yet.

Ulta Beauty, Inc. strengths

Switching Costs GeneralPhysical Network DensityContractual ExclusivityPreferential Input AccessSuite BundlingData Network EffectsTwo Sided NetworkFloat Prepayment

Zoetis Inc. strengths

Brand TrustService Field NetworkRegulated Standards PipeIP Choke PointInstalled Base ConsumablesCapacity MoatDistribution ControlCompliance AdvantageOperational Excellence

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%

Zoetis Inc. segments

Full profile >

Companion Animal Products

Oligopoly

67.8%

Livestock Products

Oligopoly

31.3%

Client Supply Services & Human Health

Competitive

0.9%

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.