VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Baidu, Inc. vs Nasdaq, 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

Nasdaq, Inc.

NDAQ · NASDAQ

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 Nasdaq, Inc.'s moat claims, evidence, and risks.

View NDAQ analysis

Comparison highlights

  • Moat score gap: Nasdaq, Inc. leads (76 / 100 vs 71 / 100 for Baidu, Inc.).
  • Segment focus: Baidu, Inc. has 4 segments (54.5% in Online Marketing (Search & Feed Ads)); Nasdaq, Inc. has 3 segments (42.4% in Capital Access Platforms).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Baidu, Inc. has 10 moat types across 4 domains; Nasdaq, Inc. has 9 across 5.

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%

Nasdaq, Inc.

Capital Access Platforms

Market

Issuer and investor solutions: listings, index licensing, market data, and investment analytics/workflow platforms

Geography

Global (with major exposure to U.S. and Nordic/Baltic markets)

Customer

Public/private companies (issuers), asset managers, institutional investors, data subscribers

Role

Listing venue + index administrator/licensor + data/analytics provider

Revenue share

42.4%

Side-by-side metrics

Baidu, Inc.
Nasdaq, Inc.
Ticker / Exchange
9888 - The Stock Exchange of Hong Kong Limited
NDAQ - NASDAQ
Market cap (USD)
n/a
n/a
Sector
Technology
Financials
HQ country
CN
US
Primary segment
Online Marketing (Search & Feed Ads)
Capital Access Platforms
Market structure
Quasi-Monopoly
Oligopoly
Market share
62%-66% (reported)
80%-84% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
76 / 100
Moat domains
Demand, Network, Supply, Legal
Legal, Network, Supply, Demand, Financial
Last update
2025-12-28
2025-12-31

Moat coverage

Shared moat types

Brand TrustData Workflow Lockin

Baidu, Inc. strengths

Habit DefaultEcosystem ComplementsCapex Knowhow ScaleLearning Curve YieldRegulated Standards PipeContent Rights CurrencyScale Economies Unit CostData Network Effects

Nasdaq, Inc. strengths

Concession LicenseTwo Sided NetworkPhysical Network DensityDe Facto StandardBenchmark Pricing PowerCompliance AdvantageLong Term Contracts

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%

Nasdaq, Inc. segments

Full profile >

Market Services

Competitive

21.9%

Capital Access Platforms

Oligopoly

42.4%

Financial Technology

Competitive

35.6%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

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.