VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Hong Kong Exchanges and Clearing Limited vs Brambles Limited

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

Brambles Limited

BXB · ASX

Market cap (USD)$30.9B
Gross margin (TTM)27.1%
Operating margin (TTM)19.3%
Net margin (TTM)12.3%
SectorIndustrials
IndustrySpecialty Business Services
CountryAU
Data as of2025-12-30
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 Brambles Limited's moat claims, evidence, and risks.

View BXB analysis

Comparison highlights

  • Moat score gap: Hong Kong Exchanges and Clearing Limited leads (92 / 100 vs 71 / 100 for Brambles Limited).
  • Segment focus: Hong Kong Exchanges and Clearing Limited has 4 segments (52.6% in Cash Markets); Brambles Limited has 3 segments (55% in CHEP Americas).
  • Primary market structure: Monopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Hong Kong Exchanges and Clearing Limited has 9 moat types across 5 domains; Brambles Limited has 4 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%

Brambles Limited

CHEP Americas

Market

Pallet pooling and reusable transport packaging pooling services

Geography

Americas (North America and Latin America)

Customer

Manufacturers, producers/growers, retailers, and logistics partners

Role

Pooling asset owner/operator and service provider

Revenue share

55%

Side-by-side metrics

Hong Kong Exchanges and Clearing Limited
Brambles Limited
Ticker / Exchange
0388.HK - Hong Kong Stock Exchange (HKEX)
BXB - ASX
Market cap (USD)
$67.7B
$30.9B
Gross margin (TTM)
n/a
27.1%
Operating margin (TTM)
n/a
19.3%
Net margin (TTM)
n/a
12.3%
Sector
Financials
Industrials
Industry
n/a
Specialty Business Services
HQ country
HK
AU
Primary segment
Cash Markets
CHEP Americas
Market structure
Monopoly
Oligopoly
Market share
100% (reported)
n/a
HHI estimate
10,000
n/a
Pricing power
Moderate
Moderate
Moat score
92 / 100
71 / 100
Moat domains
Legal, Network, Financial, Supply, Demand
Supply, Demand, Financial
Last update
2026-01-03
2025-12-30

Moat coverage

Shared moat types

Benchmark Pricing PowerPhysical Network DensitySwitching Costs General

Hong Kong Exchanges and Clearing Limited strengths

Concession LicenseClearing SettlementInteroperability HubTwo Sided NetworkDirect Network EffectsDistribution Control

Brambles Limited strengths

Scale Economies Unit Cost

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%

Brambles Limited segments

Full profile >

CHEP Americas

Oligopoly

55%

CHEP EMEA

Oligopoly

36.7%

CHEP Asia-Pacific

Oligopoly

8.3%

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.