VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Baidu, Inc. vs Intercontinental Exchange, Inc.

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

Baidu, Inc.

9888 · The Stock Exchange of Hong Kong Limited

Market cap (USD)
SectorTechnology
CountryCN
Data as of2025-12-28
Moat score
71/ 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 Baidu, Inc.'s moat claims, evidence, and risks.

View 9888 analysis

Intercontinental Exchange, Inc.

ICE · New York Stock Exchange

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

View ICE analysis

Comparison highlights

  • Moat score gap: Intercontinental Exchange, Inc. leads (87 / 100 vs 71 / 100 for Baidu, Inc.).
  • Segment focus: Baidu, Inc. has 4 segments (54.5% in Online Marketing (Search & Feed Ads)); Intercontinental Exchange, Inc. has 3 segments (53.4% in Exchanges).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Baidu, Inc. has 10 moat types across 4 domains; Intercontinental Exchange, Inc. has 10 across 4.

Primary market context

Baidu, Inc.

Online Marketing (Search & Feed Ads)

Market

Chinese-language search and feed-based online marketing services

Geography

Mainland China

Customer

Advertisers (SMEs and larger enterprises) buying performance-based and feed ads

Role

Search + feed platform operator / ad marketplace

Revenue share

54.5%

Intercontinental Exchange, Inc.

Exchanges

Market

Derivatives, cash equities, and listings exchanges plus central clearing (CCP) services

Geography

Global

Customer

Market participants (banks, broker-dealers, asset managers, proprietary traders) and issuers

Role

Exchange operator + clearing house (CCP)

Revenue share

53.4%

Side-by-side metrics

Baidu, Inc.
Intercontinental Exchange, Inc.
Ticker / Exchange
9888 - The Stock Exchange of Hong Kong Limited
ICE - New York Stock Exchange
Market cap (USD)
n/a
n/a
Sector
Technology
Financials
HQ country
CN
US
Primary segment
Online Marketing (Search & Feed Ads)
Exchanges
Market structure
Quasi-Monopoly
Oligopoly
Market share
62%-66% (reported)
75% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
71 / 100
87 / 100
Moat domains
Demand, Network, Supply, Legal
Network, Legal, Demand, Supply
Last update
2025-12-28
2025-12-30

Moat coverage

Shared moat types

Brand TrustData Workflow LockinData Network Effects

Baidu, Inc. strengths

Habit DefaultEcosystem ComplementsCapex Knowhow ScaleLearning Curve YieldRegulated Standards PipeContent Rights CurrencyScale Economies Unit Cost

Intercontinental Exchange, Inc. strengths

Clearing SettlementConcession LicenseTwo Sided NetworkPhysical Network DensityInteroperability HubStandards RegistryCompliance Advantage

Segment mix

Baidu, Inc. segments

Full profile >

Online Marketing (Search & Feed Ads)

Quasi-Monopoly

54.5%

AI Cloud (IaaS/PaaS/SaaS + GenAI APIs)

Oligopoly

16.3%

Intelligent Driving & Other Growth Initiatives

Oligopoly

7.4%

iQIYI (Online Entertainment)

Oligopoly

21.8%

Intercontinental Exchange, Inc. segments

Full profile >

Exchanges

Oligopoly

53.4%

Fixed Income and Data Services

Oligopoly

24.8%

Mortgage Technology

Oligopoly

21.8%

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.