VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Analog Devices, Inc. vs Intercontinental Exchange, Inc.

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

Analog Devices, Inc.

ADI · Nasdaq Global Select Market

Market cap (USD)$157B
Gross margin (TTM)62.8%
Operating margin (TTM)29.2%
Net margin (TTM)23%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2026-01-02
Moat score
59/ 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 Analog Devices, Inc.'s moat claims, evidence, and risks.

View ADI analysis

Intercontinental Exchange, Inc.

ICE · New York Stock Exchange

Market cap (USD)$94.3B
Gross margin (TTM)61.9%
Operating margin (TTM)38.7%
Net margin (TTM)26.1%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
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 59 / 100 for Analog Devices, Inc.).
  • Segment focus: Analog Devices, Inc. has 4 segments (44.7% in Industrial); Intercontinental Exchange, Inc. has 3 segments (53.4% in Exchanges).
  • Moat breadth: Analog Devices, Inc. has 5 moat types across 2 domains; Intercontinental Exchange, Inc. has 10 across 4.

Primary market context

Analog Devices, Inc.

Industrial

Market

Industrial analog, mixed-signal, RF and power management semiconductors

Geography

Global

Customer

B2B (OEMs/ODMs, industrial equipment, test & measurement, aerospace/defense)

Role

Semiconductor IC supplier

Revenue share

44.7%

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

Analog Devices, Inc.
Intercontinental Exchange, Inc.
Ticker / Exchange
ADI - Nasdaq Global Select Market
ICE - New York Stock Exchange
Market cap (USD)
$157B
$94.3B
Gross margin (TTM)
62.8%
61.9%
Operating margin (TTM)
29.2%
38.7%
Net margin (TTM)
23%
26.1%
Sector
Technology
Financials
Industry
Semiconductors
Financial - Data & Stock Exchanges
HQ country
US
US
Primary segment
Industrial
Exchanges
Market structure
Oligopoly
Oligopoly
Market share
n/a
75% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
59 / 100
87 / 100
Moat domains
Demand, Supply
Network, Legal, Demand, Supply
Last update
2026-01-02
2025-12-30

Moat coverage

Shared moat types

Data Workflow LockinBrand Trust

Analog Devices, Inc. strengths

Design In QualificationScope EconomiesCapex Knowhow Scale

Intercontinental Exchange, Inc. strengths

Clearing SettlementConcession LicenseTwo Sided NetworkData Network EffectsPhysical Network DensityInteroperability HubStandards RegistryCompliance Advantage

Segment mix

Analog Devices, Inc. segments

Full profile >

Industrial

Oligopoly

44.7%

Automotive

Oligopoly

29.8%

Communications

Oligopoly

12.5%

Consumer

Competitive

13%

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.

View the moat stocks list

Looking for expansion-stage stocks?

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

View expansion-stage stocks

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.