VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Hong Kong Exchanges and Clearing Limited vs Airbus SE

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

Hong Kong Exchanges and Clearing Limited

0388.HK · Hong Kong Stock Exchange (HKEX)

Market cap (USD)$67.7B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryHK
Data as of2026-01-03
Moat score
92/ 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 Hong Kong Exchanges and Clearing Limited's moat claims, evidence, and risks.

View 0388.HK analysis

Airbus SE

AIR · Euronext Paris

Market cap (USD)$160.3B
Gross margin (TTM)15.5%
Operating margin (TTM)7.8%
Net margin (TTM)7%
SectorIndustrials
IndustryAerospace & Defense
CountryNL
Data as of2026-01-01
Moat score
91/ 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 Airbus SE's moat claims, evidence, and risks.

View AIR analysis

Comparison highlights

  • Moat score gap: Hong Kong Exchanges and Clearing Limited leads (92 / 100 vs 91 / 100 for Airbus SE).
  • Segment focus: Hong Kong Exchanges and Clearing Limited has 4 segments (52.6% in Cash Markets); Airbus SE has 3 segments (71.7% in Commercial Aircraft).
  • Primary market structure: Monopoly vs Duopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Hong Kong Exchanges and Clearing Limited has 9 moat types across 5 domains; Airbus SE has 5 across 3.

Primary market context

Hong Kong Exchanges and Clearing Limited

Cash Markets

Market

Exchange-based cash equities trading, clearing and settlement in Hong Kong (including Stock Connect cash markets)

Geography

Hong Kong (with Mainland China Connect linkage)

Customer

Brokers, banks, proprietary trading firms, and investors; listed issuers via primary/secondary markets

Role

Exchange operator + clearing/settlement/depository operator

Revenue share

52.6%

Airbus SE

Commercial Aircraft

Market

Large commercial jet aircraft manufacturing (narrowbody and widebody)

Geography

Global

Customer

Airlines and aircraft lessors

Role

OEM / integrator

Revenue share

71.7%

Side-by-side metrics

Hong Kong Exchanges and Clearing Limited
Airbus SE
Ticker / Exchange
0388.HK - Hong Kong Stock Exchange (HKEX)
AIR - Euronext Paris
Market cap (USD)
$67.7B
$160.3B
Gross margin (TTM)
n/a
15.5%
Operating margin (TTM)
n/a
7.8%
Net margin (TTM)
n/a
7%
Sector
Financials
Industrials
Industry
n/a
Aerospace & Defense
HQ country
HK
NL
Primary segment
Cash Markets
Commercial Aircraft
Market structure
Monopoly
Duopoly
Market share
100% (reported)
68.8% (implied)
HHI estimate
10,000
5,704
Pricing power
Moderate
Moderate
Moat score
92 / 100
91 / 100
Moat domains
Legal, Network, Financial, Supply, Demand
Supply, Demand, Legal
Last update
2026-01-03
2026-01-01

Moat coverage

Shared moat types

No overlap yet.

Hong Kong Exchanges and Clearing Limited strengths

Concession LicenseClearing SettlementInteroperability HubTwo Sided NetworkDirect Network EffectsBenchmark Pricing PowerPhysical Network DensityDistribution ControlSwitching Costs General

Airbus SE strengths

Capex Knowhow ScaleTraining Org Change CostsLong Term ContractsService Field NetworkGovernment Contracting Relationships

Segment mix

Hong Kong Exchanges and Clearing Limited segments

Full profile >

Cash Markets

Monopoly

52.6%

Equity and Financial Derivatives

Monopoly

20.3%

Commodities (LME and related)

Oligopoly

14.8%

Data and Connectivity

Quasi-Monopoly

12.2%

Airbus SE segments

Full profile >

Commercial Aircraft

Duopoly

71.7%

Helicopters

Oligopoly

11.2%

Defence and Space

Oligopoly

17.1%

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.