VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Hong Kong Exchanges and Clearing Limited vs Prosus N.V.

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

Prosus N.V.

PRX · Euronext Amsterdam

Market cap (USD)$119.8B
Gross margin (TTM)42.1%
Operating margin (TTM)1.8%
Net margin (TTM)167.8%
SectorTechnology
IndustryInternet Content & Information
CountryNL
Data as of2025-12-28
Moat score
49/ 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 Prosus N.V.'s moat claims, evidence, and risks.

View PRX analysis

Comparison highlights

  • Moat score gap: Hong Kong Exchanges and Clearing Limited leads (92 / 100 vs 49 / 100 for Prosus N.V.).
  • Segment focus: Hong Kong Exchanges and Clearing Limited has 4 segments (52.6% in Cash Markets); Prosus N.V. has 5 segments (40.3% in Etail (eMAG marketplace + fulfillment)).
  • Primary market structure: Monopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Hong Kong Exchanges and Clearing Limited has 9 moat types across 5 domains; Prosus N.V. has 7 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%

Prosus N.V.

Etail (eMAG marketplace + fulfillment)

Market

Online retail marketplace and fulfillment in Central & Eastern Europe

Geography

Romania, Hungary and other CEE markets

Customer

Consumers; marketplace sellers; brands

Role

Marketplace + first-party retail + logistics

Revenue share

40.3%

Side-by-side metrics

Hong Kong Exchanges and Clearing Limited
Prosus N.V.
Ticker / Exchange
0388.HK - Hong Kong Stock Exchange (HKEX)
PRX - Euronext Amsterdam
Market cap (USD)
$67.7B
$119.8B
Gross margin (TTM)
n/a
42.1%
Operating margin (TTM)
n/a
1.8%
Net margin (TTM)
n/a
167.8%
Sector
Financials
Technology
Industry
n/a
Internet Content & Information
HQ country
HK
NL
Primary segment
Cash Markets
Etail (eMAG marketplace + fulfillment)
Market structure
Monopoly
Competitive
Market share
100% (reported)
n/a
HHI estimate
10,000
n/a
Pricing power
Moderate
Weak
Moat score
92 / 100
49 / 100
Moat domains
Legal, Network, Financial, Supply, Demand
Network, Supply, Demand
Last update
2026-01-03
2025-12-28

Moat coverage

Shared moat types

Two Sided NetworkPhysical Network Density

Hong Kong Exchanges and Clearing Limited strengths

Concession LicenseClearing SettlementInteroperability HubDirect Network EffectsBenchmark Pricing PowerDistribution ControlSwitching Costs General

Prosus N.V. strengths

Habit DefaultBrand TrustDesign In QualificationScale Economies Unit CostScope 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%

Prosus N.V. segments

Full profile >

Food Delivery (iFood ecosystem + delivery investments)

Oligopoly

21%

Classifieds (OLX Group)

Oligopoly

12.7%

Payments & Fintech (PayU, Iyzico)

Competitive

21%

Etail (eMAG marketplace + fulfillment)

Competitive

40.3%

Ecosystem & Other ecommerce (cross-portfolio synergies, ventures)

Competitive

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.