VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

Walmart Inc. vs Xero Limited

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

Walmart Inc.

WMT · New York Stock Exchange

Market cap (USD)$892.1B
Gross margin (TTM)24.9%
Operating margin (TTM)4.1%
Net margin (TTM)3.3%
SectorConsumer
IndustryDiscount Stores
CountryUS
Data as of2025-12-30
Moat score
77/ 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 Walmart Inc.'s moat claims, evidence, and risks.

View WMT 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: Walmart Inc. leads (77 / 100 vs 71 / 100 for Xero Limited).
  • Segment focus: Walmart Inc. has 3 segments (68.3% in Walmart U.S.); Xero Limited has 2 segments.
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Walmart Inc. has 6 moat types across 4 domains; Xero Limited has 7 across 3.

Primary market context

Walmart Inc.

Walmart U.S.

Market

U.S. omnichannel discount retail and grocery (supercenters, neighborhood markets, eCommerce)

Geography

United States

Customer

Consumers and small businesses; marketplace sellers and advertisers (for marketplace and retail media offerings)

Role

Retailer / marketplace operator / last-mile fulfillment network

Revenue share

68.3%

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

Walmart Inc.
Xero Limited
Ticker / Exchange
WMT - New York Stock Exchange
XRO - Australian Securities Exchange
Market cap (USD)
$892.1B
n/a
Gross margin (TTM)
24.9%
n/a
Operating margin (TTM)
4.1%
n/a
Net margin (TTM)
3.3%
n/a
Sector
Consumer
Technology
Industry
Discount Stores
n/a
HQ country
US
NZ
Primary segment
Walmart U.S.
Core Accounting Subscription Platform
Market structure
Competitive
Oligopoly
Market share
20%-22% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
77 / 100
71 / 100
Moat domains
Supply, Demand, Network, Financial
Demand, Network, Financial
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

Ecosystem Complements

Walmart Inc. strengths

Scale Economies Unit CostPhysical Network DensityHabit DefaultSupply Chain ControlFloat Prepayment

Xero Limited strengths

Data Workflow LockinSwitching Costs GeneralTwo Sided NetworkBenchmark Pricing PowerInteroperability HubSuite Bundling

Segment mix

Walmart Inc. segments

Full profile >

Walmart U.S.

Competitive

68.3%

Walmart International

Competitive

18.1%

Sam's Club U.S.

Oligopoly

13.6%

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.