VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 14, 2026

Stock Comparison

AIA Group Limited vs Cboe Global Markets, Inc.

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

AIA Group Limited

1299.HK · Hong Kong Stock Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryHK
Data as of2026-01-12
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 AIA Group Limited's moat claims, evidence, and risks.

View 1299.HK analysis

Cboe Global Markets, Inc.

CBOE · Cboe BZX

Market cap (USD)$27.4B
Gross margin (TTM)48.2%
Operating margin (TTM)29.6%
Net margin (TTM)21.3%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2025-12-31
Moat score
76/ 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 Cboe Global Markets, Inc.'s moat claims, evidence, and risks.

View CBOE analysis

Comparison highlights

  • Moat score gap: Cboe Global Markets, Inc. leads (76 / 100 vs 67 / 100 for AIA Group Limited).
  • Segment focus: AIA Group Limited has 6 segments; Cboe Global Markets, Inc. has 5 segments (60.8% in Options).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: n/a vs Moderate.
  • Moat breadth: AIA Group Limited has 4 moat types across 3 domains; Cboe Global Markets, Inc. has 8 across 4.

Primary market context

AIA Group Limited

Mainland China

Market

Life insurance, accident & health insurance, and long-term savings products

Geography

Mainland China

Customer

Individuals and corporate clients (group insurance/employee benefits)

Role

Insurer / underwriter and distributor (agency and partnerships)

Cboe Global Markets, Inc.

Options

Market

U.S. listed options exchanges (multi-listed + proprietary index options)

Geography

United States

Customer

Broker-dealers, market makers, institutional investors, retail order-flow intermediaries

Role

Exchange operator (SRO) + derivatives listing venue + market data provider

Revenue share

60.8%

Side-by-side metrics

AIA Group Limited
Cboe Global Markets, Inc.
Ticker / Exchange
1299.HK - Hong Kong Stock Exchange
CBOE - Cboe BZX
Market cap (USD)
n/a
$27.4B
Gross margin (TTM)
n/a
48.2%
Operating margin (TTM)
n/a
29.6%
Net margin (TTM)
n/a
21.3%
Sector
Financials
Financials
Industry
n/a
Financial - Data & Stock Exchanges
HQ country
HK
US
Primary segment
Mainland China
Options
Market structure
Oligopoly
Oligopoly
Market share
n/a
29%-32% (reported)
HHI estimate
n/a
n/a
Pricing power
n/a
Moderate
Moat score
67 / 100
76 / 100
Moat domains
Legal, Supply, Demand
Legal, Network, Supply, Demand
Last update
2026-01-12
2025-12-31

Moat coverage

Shared moat types

No overlap yet.

AIA Group Limited strengths

Concession LicenseService Field NetworkLong Term ContractsBrand Trust

Cboe Global Markets, Inc. strengths

Contractual ExclusivityTwo Sided NetworkCapex Knowhow ScaleRegulated Standards PipeSwitching Costs GeneralClearing SettlementIP Choke PointDe Facto Standard

Segment mix

AIA Group Limited segments

Full profile >

Mainland China

Oligopoly

n/a

Hong Kong (including Macau)

Oligopoly

n/a

Thailand

Oligopoly

n/a

Singapore (including Brunei)

Oligopoly

n/a

Malaysia

Oligopoly

n/a

Other Markets

Competitive

n/a

Cboe Global Markets, Inc. segments

Full profile >

Options

Oligopoly

60.8%

North American Equities

Competitive

18.5%

Europe and Asia Pacific

Oligopoly

10.6%

Futures

Quasi-Monopoly

6.3%

Global FX

Competitive

3.7%

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.