VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Hong Kong Exchanges and Clearing Limited vs Graco Inc.

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)$546.5B
Gross margin (TTM)85.7%
Operating margin (TTM)80.9%
Net margin (TTM)68.3%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
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

Graco Inc.

GGG · New York Stock Exchange

Market cap (USD)$13.8B
Gross margin (TTM)52.3%
Operating margin (TTM)26.6%
Net margin (TTM)22.7%
SectorIndustrials
IndustryIndustrial - Machinery
CountryUS
Data as of2026-01-05
Moat score
67/ 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 Graco Inc.'s moat claims, evidence, and risks.

View GGG analysis

Comparison highlights

  • Moat score gap: Hong Kong Exchanges and Clearing Limited leads (92 / 100 vs 67 / 100 for Graco Inc.).
  • Segment focus: Hong Kong Exchanges and Clearing Limited has 4 segments (52.6% in Cash Markets); Graco Inc. has 3 segments (49.4% in Contractor).
  • 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; Graco Inc. has 7 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%

Graco Inc.

Contractor

Market

Professional and prosumer paint/coatings application equipment (airless sprayers, texture sprayers, line stripers, plural-component proportioners)

Geography

Global

Customer

Professional contractors and trades; DIY consumers via retail channels

Role

Equipment OEM / brand owner

Revenue share

49.4%

Side-by-side metrics

Hong Kong Exchanges and Clearing Limited
Graco Inc.
Ticker / Exchange
0388.HK - Hong Kong Stock Exchange (HKEX)
GGG - New York Stock Exchange
Market cap (USD)
$546.5B
$13.8B
Gross margin (TTM)
85.7%
52.3%
Operating margin (TTM)
80.9%
26.6%
Net margin (TTM)
68.3%
22.7%
Sector
Financials
Industrials
Industry
Financial - Data & Stock Exchanges
Industrial - Machinery
HQ country
HK
US
Primary segment
Cash Markets
Contractor
Market structure
Monopoly
Oligopoly
Market share
100% (reported)
n/a
HHI estimate
10,000
n/a
Pricing power
Moderate
Moderate
Moat score
92 / 100
67 / 100
Moat domains
Legal, Network, Financial, Supply, Demand
Demand, Supply
Last update
2026-01-03
2026-01-05

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

Graco Inc. strengths

Brand TrustOperational ExcellenceService Field NetworkDesign In QualificationInstalled Base ConsumablesScope Economies

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%

Graco Inc. segments

Full profile >

Contractor

Oligopoly

49.4%

Industrial

Oligopoly

43.1%

Expansion Markets

Competitive

7.5%

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.