VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 9, 2026

Stock Comparison

Hong Kong Exchanges and Clearing Limited vs Industria de Diseno Textil, S.A.

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

Industria de Diseno Textil, S.A.

ITX · Bolsa de Madrid

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorConsumer
Industry
CountryES
Data as of2026-01-06
Moat score
69/ 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 Industria de Diseno Textil, S.A.'s moat claims, evidence, and risks.

View ITX analysis

Comparison highlights

  • Moat score gap: Hong Kong Exchanges and Clearing Limited leads (92 / 100 vs 69 / 100 for Industria de Diseno Textil, S.A.).
  • Segment focus: Hong Kong Exchanges and Clearing Limited has 4 segments (52.6% in Cash Markets); Industria de Diseno Textil, S.A. has 3 segments (71.9% in Zara / Zara Home).
  • 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; Industria de Diseno Textil, S.A. 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%

Industria de Diseno Textil, S.A.

Zara / Zara Home

Market

Fast-fashion apparel and home goods retail (Zara and Zara Home)

Geography

Global

Customer

Consumers (end-users) via owned stores and e-commerce

Role

Brand owner + omnichannel retailer

Revenue share

71.9%

Side-by-side metrics

Hong Kong Exchanges and Clearing Limited
Industria de Diseno Textil, S.A.
Ticker / Exchange
0388.HK - Hong Kong Stock Exchange (HKEX)
ITX - Bolsa de Madrid
Market cap (USD)
$546.5B
n/a
Gross margin (TTM)
85.7%
n/a
Operating margin (TTM)
80.9%
n/a
Net margin (TTM)
68.3%
n/a
Sector
Financials
Consumer
Industry
Financial - Data & Stock Exchanges
n/a
HQ country
HK
ES
Primary segment
Cash Markets
Zara / Zara Home
Market structure
Monopoly
Competitive
Market share
100% (reported)
n/a
HHI estimate
10,000
n/a
Pricing power
Moderate
Moderate
Moat score
92 / 100
69 / 100
Moat domains
Legal, Network, Financial, Supply, Demand
Supply, Demand, Financial
Last update
2026-01-03
2026-01-06

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

Industria de Diseno Textil, S.A. strengths

Supply Chain ControlBrand TrustNegative Working Capital

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%

Industria de Diseno Textil, S.A. segments

Full profile >

Zara / Zara Home

Competitive

71.9%

Bershka

Competitive

7.6%

Other Concepts (Pull&Bear, Massimo Dutti, Stradivarius, Oysho)

Competitive

20.5%

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.