VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Hong Kong Exchanges and Clearing Limited vs The Campbell's Company

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

The Campbell's Company

CPB · The Nasdaq Stock Market LLC

Market cap (USD)$8.3B
Gross margin (TTM)30%
Operating margin (TTM)12.7%
Net margin (TTM)5.7%
SectorConsumer
IndustryPackaged Foods
CountryUS
Data as of2025-12-30
Moat score
61/ 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 The Campbell's Company's moat claims, evidence, and risks.

View CPB analysis

Comparison highlights

  • Moat score gap: Hong Kong Exchanges and Clearing Limited leads (92 / 100 vs 61 / 100 for The Campbell's Company).
  • Segment focus: Hong Kong Exchanges and Clearing Limited has 4 segments (52.6% in Cash Markets); The Campbell's Company has 2 segments (59% in Meals & Beverages).
  • Primary market structure: Monopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Hong Kong Exchanges and Clearing Limited has 9 moat types across 5 domains; The Campbell's Company has 3 across 2.

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%

The Campbell's Company

Meals & Beverages

Market

Branded shelf-stable meals, soup/broth, sauces and beverages (retail + foodservice)

Geography

U.S. and Canada

Customer

Retailers, foodservice distributors, and end-consumers

Role

Branded food manufacturer (CPG)

Revenue share

59%

Side-by-side metrics

Hong Kong Exchanges and Clearing Limited
The Campbell's Company
Ticker / Exchange
0388.HK - Hong Kong Stock Exchange (HKEX)
CPB - The Nasdaq Stock Market LLC
Market cap (USD)
$67.7B
$8.3B
Gross margin (TTM)
n/a
30%
Operating margin (TTM)
n/a
12.7%
Net margin (TTM)
n/a
5.7%
Sector
Financials
Consumer
Industry
n/a
Packaged Foods
HQ country
HK
US
Primary segment
Cash Markets
Meals & Beverages
Market structure
Monopoly
Competitive
Market share
100% (reported)
n/a
HHI estimate
10,000
n/a
Pricing power
Moderate
Moderate
Moat score
92 / 100
61 / 100
Moat domains
Legal, Network, Financial, Supply, Demand
Demand, Supply
Last update
2026-01-03
2025-12-30

Moat coverage

Shared moat types

Distribution Control

Hong Kong Exchanges and Clearing Limited strengths

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

The Campbell's Company strengths

Brand TrustOperational Excellence

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%

The Campbell's Company segments

Full profile >

Meals & Beverages

Competitive

59%

Snacks

Competitive

41%

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.