VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Tencent Holdings Limited vs CME Group Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Tencent Holdings Limited

0700.HK · Hong Kong Stock Exchange

Market cap (USD)$705.6B
SectorCommunication Services
CountryCN
Data as of2025-12-28
Moat score
73/ 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 Tencent Holdings Limited's moat claims, evidence, and risks.

View 0700.HK analysis

CME Group Inc.

CME · NASDAQ

Market cap (USD)
SectorFinancials
CountryUS
Data as of2025-12-30
Moat score
81/ 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 CME Group Inc.'s moat claims, evidence, and risks.

View CME analysis

Comparison highlights

  • Moat score gap: CME Group Inc. leads (81 / 100 vs 73 / 100 for Tencent Holdings Limited).
  • Segment focus: Tencent Holdings Limited has 4 segments (48.3% in Value-Added Services (VAS)); CME Group Inc. has 3 segments (81.4% in Trading and Clearing (Derivatives + Cash Markets Platforms)).
  • Moat breadth: Tencent Holdings Limited has 6 moat types across 2 domains; CME Group Inc. has 10 across 5.

Primary market context

Tencent Holdings Limited

Value-Added Services (VAS)

Market

Consumer social platforms and digital entertainment (online games, subscriptions, virtual items, digital content)

Geography

Mainland China (core) + Global (games)

Customer

Consumers

Role

Platform/operator + content publisher

Revenue share

48.3%

CME Group Inc.

Trading and Clearing (Derivatives + Cash Markets Platforms)

Market

Exchange-traded derivatives (futures and options) trading and central counterparty clearing; plus electronic cash markets matching (U.S. Treasuries/repo, spot FX) tied to CME platforms

Geography

Global (core U.S. footprint with international participation)

Customer

Institutional and professional traders; commercial hedgers; banks; broker-dealers; futures commission merchants (FCMs); asset managers; proprietary trading firms; governments and central banks

Role

Market operator (exchange/venue) + central counterparty clearing provider

Revenue share

81.4%

Side-by-side metrics

Tencent Holdings Limited
CME Group Inc.
Ticker / Exchange
0700.HK - Hong Kong Stock Exchange
CME - NASDAQ
Market cap (USD)
$705.6B
n/a
Sector
Communication Services
Financials
HQ country
CN
US
Primary segment
Value-Added Services (VAS)
Trading and Clearing (Derivatives + Cash Markets Platforms)
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
73 / 100
81 / 100
Moat domains
Network, Supply
Network, Legal, Supply, Financial, Demand
Last update
2025-12-28
2025-12-30

Moat coverage

Shared moat types

Distribution ControlTwo Sided Network

Tencent Holdings Limited strengths

Direct Network EffectsEcosystem ComplementsData Network EffectsCapex Knowhow Scale

CME Group Inc. strengths

Clearing SettlementConcession LicenseScale Economies Unit CostBenchmark Pricing PowerIP Choke PointData Workflow LockinDe Facto StandardSwitching Costs General

Segment mix

Tencent Holdings Limited segments

Full profile >

Value-Added Services (VAS)

Oligopoly

48.3%

Marketing Services

Oligopoly

18.4%

FinTech and Business Services

Oligopoly

32.1%

Others

Competitive

1.2%

CME Group Inc. segments

Full profile >

Trading and Clearing (Derivatives + Cash Markets Platforms)

Oligopoly

81.4%

Market Data and Information Services

Monopoly

11.6%

Access, Connectivity and Other Exchange Services

Monopoly

7%

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.