VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Murata Manufacturing Co., Ltd. vs Cboe Global Markets, Inc.

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

Murata Manufacturing Co., Ltd.

6981 · Tokyo Stock Exchange

Market cap (USD)$37.4B
SectorTechnology
CountryJP
Data as of2025-12-30
Moat score
75/ 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 Murata Manufacturing Co., Ltd.'s moat claims, evidence, and risks.

View 6981 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: Cboe Global Markets, Inc. leads (76 / 100 vs 75 / 100 for Murata Manufacturing Co., Ltd.).
  • Segment focus: Murata Manufacturing Co., Ltd. has 6 segments (47.7% in Capacitors (primarily MLCC)); Cboe Global Markets, Inc. has 5 segments (60.8% in Options).
  • Moat breadth: Murata Manufacturing Co., Ltd. has 8 moat types across 4 domains; Cboe Global Markets, Inc. has 8 across 4.

Primary market context

Murata Manufacturing Co., Ltd.

Capacitors (primarily MLCC)

Market

Multilayer ceramic capacitors (MLCC) and related capacitors

Geography

Global

Customer

Electronics OEMs and tier-1 suppliers (smartphone, PC/server, automotive, industrial)

Role

Component manufacturer / supplier

Revenue share

47.7%

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

Murata Manufacturing Co., Ltd.
Cboe Global Markets, Inc.
Ticker / Exchange
6981 - Tokyo Stock Exchange
CBOE - Cboe BZX
Market cap (USD)
$37.4B
n/a
Sector
Technology
Financials
HQ country
JP
US
Primary segment
Capacitors (primarily MLCC)
Options
Market structure
Oligopoly
Oligopoly
Market share
38%-42% (reported)
29%-32% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
75 / 100
76 / 100
Moat domains
Supply, Demand, Financial, Legal
Legal, Network, Supply, Demand
Last update
2025-12-30
2025-12-31

Moat coverage

Shared moat types

Capex Knowhow ScaleIP Choke Point

Murata Manufacturing Co., Ltd. strengths

Learning Curve YieldDesign In QualificationBenchmark Pricing PowerBrand TrustCompliance AdvantageResidual segment

Cboe Global Markets, Inc. strengths

Contractual ExclusivityTwo Sided NetworkRegulated Standards PipeSwitching Costs GeneralClearing SettlementDe Facto Standard

Segment mix

Murata Manufacturing Co., Ltd. segments

Full profile >

Capacitors (primarily MLCC)

Oligopoly

47.7%

Inductors and EMI Filters

Oligopoly

11.5%

High-Frequency Devices and Communications Modules

Oligopoly

25.4%

Batteries and Power Supply

Competitive

8.9%

Functional Devices (including sensors)

Competitive

5.6%

Other

Competitive

0.9%

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.