VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Hoshizaki Corporation vs Tradeweb Markets Inc.

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

Hoshizaki Corporation

6465 · Tokyo Stock Exchange

Market cap (USD)$745.2B
Gross margin (TTM)37.3%
Operating margin (TTM)11.4%
Net margin (TTM)8.4%
SectorIndustrials
IndustryIndustrial - Machinery
CountryJP
Data as of2025-12-30
Moat score
60/ 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 Hoshizaki Corporation's moat claims, evidence, and risks.

View 6465 analysis

Tradeweb Markets Inc.

TW · Nasdaq Global Select Market

Market cap (USD)$23.6B
Gross margin (TTM)66.7%
Operating margin (TTM)40.3%
Net margin (TTM)31.6%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2026-01-06
Moat score
70/ 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 Tradeweb Markets Inc.'s moat claims, evidence, and risks.

View TW analysis

Comparison highlights

  • Moat score gap: Tradeweb Markets Inc. leads (70 / 100 vs 60 / 100 for Hoshizaki Corporation).
  • Segment focus: Hoshizaki Corporation has 7 segments (26.4% in Refrigerators & freezers); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Hoshizaki Corporation has 7 moat types across 3 domains; Tradeweb Markets Inc. has 7 across 4.

Primary market context

Hoshizaki Corporation

Refrigerators & freezers

Market

Commercial refrigerators & freezers for professional kitchens and food retail

Geography

Global

Customer

Restaurants, supermarkets/convenience stores, institutional kitchens, food distribution and preparation facilities

Role

OEM/manufacturer with after-sales support; increasingly connected monitoring/services

Revenue share

26.4%

Tradeweb Markets Inc.

Rates

Market

Electronic dealer-to-client and all-to-all trading in rates (government bonds, mortgages/TBA MBS, interest rate swaps)

Geography

Global

Customer

Institutional, wholesale dealers, and retail via ATS

Role

Electronic marketplace / trading venue

Revenue share

52.4%

Side-by-side metrics

Hoshizaki Corporation
Tradeweb Markets Inc.
Ticker / Exchange
6465 - Tokyo Stock Exchange
TW - Nasdaq Global Select Market
Market cap (USD)
$745.2B
$23.6B
Gross margin (TTM)
37.3%
66.7%
Operating margin (TTM)
11.4%
40.3%
Net margin (TTM)
8.4%
31.6%
Sector
Industrials
Financials
Industry
Industrial - Machinery
Financial - Capital Markets
HQ country
JP
US
Primary segment
Refrigerators & freezers
Rates
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
60 / 100
70 / 100
Moat domains
Demand, Supply, Legal
Network, Demand, Legal, Supply
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Brand TrustCompliance AdvantageData Workflow Lockin

Hoshizaki Corporation strengths

Service Field NetworkDistribution ControlSuite BundlingInstalled Base Consumables

Tradeweb Markets Inc. strengths

Two Sided NetworkEcosystem ComplementsLong Term ContractsScope Economies

Segment mix

Hoshizaki Corporation segments

Full profile >

Ice makers

Oligopoly

19.5%

Refrigerators & freezers

Competitive

26.4%

Commercial dishwashers (warewashing)

Oligopoly

13.3%

Dispensers (beverage systems)

Oligopoly

15%

Other Hoshizaki products

Competitive

8.7%

Maintenance / repair (service, parts, and connected monitoring)

Quasi-Monopoly

6.8%

Other companies' products (resale/complementary kitchen equipment)

Competitive

10.3%

Tradeweb Markets Inc. segments

Full profile >

Rates

Oligopoly

52.4%

Credit

Oligopoly

26.6%

Equities

Competitive

6%

Money Markets

Oligopoly

6.7%

Market Data

Competitive

6.8%

Other

Competitive

1.4%

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that work.

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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.