VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Hong Kong Exchanges and Clearing Limited vs Kenvue 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)$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

Kenvue Inc.

KVUE · New York Stock Exchange

Market cap (USD)$33.3B
Gross margin (TTM)58.1%
Operating margin (TTM)15.7%
Net margin (TTM)9.6%
SectorConsumer
IndustryHousehold & Personal Products
CountryUS
Data as of2025-12-25
Moat score
66/ 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 Kenvue Inc.'s moat claims, evidence, and risks.

View KVUE analysis

Comparison highlights

  • Moat score gap: Hong Kong Exchanges and Clearing Limited leads (92 / 100 vs 66 / 100 for Kenvue Inc.).
  • Segment focus: Hong Kong Exchanges and Clearing Limited has 4 segments (52.6% in Cash Markets); Kenvue Inc. has 3 segments (42.3% in Self Care).
  • 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; Kenvue Inc. has 6 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%

Kenvue Inc.

Self Care

Market

OTC self-care consumer health products (pain care, cough/cold/allergy, digestive health, smoking cessation, eye care)

Geography

Global

Customer

Consumers via retailers, pharmacies, and e-commerce

Role

Branded consumer health products manufacturer

Revenue share

42.3%

Side-by-side metrics

Hong Kong Exchanges and Clearing Limited
Kenvue Inc.
Ticker / Exchange
0388.HK - Hong Kong Stock Exchange (HKEX)
KVUE - New York Stock Exchange
Market cap (USD)
$67.7B
$33.3B
Gross margin (TTM)
n/a
58.1%
Operating margin (TTM)
n/a
15.7%
Net margin (TTM)
n/a
9.6%
Sector
Financials
Consumer
Industry
n/a
Household & Personal Products
HQ country
HK
US
Primary segment
Cash Markets
Self Care
Market structure
Monopoly
Oligopoly
Market share
100% (reported)
n/a
HHI estimate
10,000
n/a
Pricing power
Moderate
Moderate
Moat score
92 / 100
66 / 100
Moat domains
Legal, Network, Financial, Supply, Demand
Demand, Supply, Legal
Last update
2026-01-03
2025-12-25

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

Kenvue Inc. strengths

Brand TrustScale Economies Unit CostCompliance AdvantageScope EconomiesHabit Default

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%

Kenvue Inc. segments

Full profile >

Self Care

Oligopoly

42.3%

Skin Health and Beauty

Competitive

27.4%

Essential Health

Competitive

30.3%

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.