VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Nabtesco Corporation vs Cboe Global Markets, Inc.

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

Nabtesco Corporation

6268 · Tokyo Stock Exchange

Market cap (USD)
SectorIndustrials
CountryJP
Data as of2025-12-30
Moat score
91/ 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 Nabtesco Corporation's moat claims, evidence, and risks.

View 6268 analysis

Cboe Global Markets, Inc.

CBOE · Cboe BZX

Market cap (USD)
SectorFinancials
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: Nabtesco Corporation leads (91 / 100 vs 76 / 100 for Cboe Global Markets, Inc.).
  • Segment focus: Nabtesco Corporation has 4 segments (34.2% in Component Solutions Business); Cboe Global Markets, Inc. has 5 segments (60.8% in Options).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Nabtesco Corporation has 5 moat types across 3 domains; Cboe Global Markets, Inc. has 8 across 4.

Primary market context

Nabtesco Corporation

Component Solutions Business

Market

Precision reduction gears (RV reducers) for industrial robot joints

Geography

Global

Customer

Industrial robot manufacturers (OEMs)

Role

Precision motion-control component supplier

Revenue share

34.2%

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

Nabtesco Corporation
Cboe Global Markets, Inc.
Ticker / Exchange
6268 - Tokyo Stock Exchange
CBOE - Cboe BZX
Market cap (USD)
n/a
n/a
Sector
Industrials
Financials
HQ country
JP
US
Primary segment
Component Solutions Business
Options
Market structure
Quasi-Monopoly
Oligopoly
Market share
55%-65% (reported)
29%-32% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
91 / 100
76 / 100
Moat domains
Supply, Demand, Legal
Legal, Network, Supply, Demand
Last update
2025-12-30
2025-12-31

Moat coverage

Shared moat types

No overlap yet.

Nabtesco Corporation strengths

Learning Curve YieldDesign In QualificationCompliance AdvantageService Field NetworkBrand Trust

Cboe Global Markets, Inc. strengths

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

Segment mix

Nabtesco Corporation segments

Full profile >

Component Solutions Business

Quasi-Monopoly

34.2%

Transport Solutions Business

Oligopoly

27.4%

Accessibility Solutions Business

Quasi-Monopoly

33%

Other Businesses

Quasi-Monopoly

5.4%

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?

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.