VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Adyen N.V. vs MarketAxess Holdings Inc.

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

Adyen N.V.

ADYEN · Euronext Amsterdam

Market cap (USD)$31.6B
Gross margin (TTM)69.8%
Operating margin (TTM)58.6%
Net margin (TTM)43.8%
SectorFinancials
IndustrySoftware - Infrastructure
CountryNL
Data as of2025-12-28
Moat score
63/ 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 Adyen N.V.'s moat claims, evidence, and risks.

View ADYEN analysis

MarketAxess Holdings Inc.

MKTX · NASDAQ Global Select Market

Market cap (USD)$6.8B
Gross margin (TTM)72.2%
Operating margin (TTM)40.4%
Net margin (TTM)29.2%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2025-12-23
Moat score
74/ 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 MarketAxess Holdings Inc.'s moat claims, evidence, and risks.

View MKTX analysis

Comparison highlights

  • Moat score gap: MarketAxess Holdings Inc. leads (74 / 100 vs 63 / 100 for Adyen N.V.).
  • Segment focus: Adyen N.V. has 3 segments (58.4% in Digital); MarketAxess Holdings Inc. has 2 segments (87.1% in Trade Execution Solutions).
  • Moat breadth: Adyen N.V. has 6 moat types across 4 domains; MarketAxess Holdings Inc. has 6 across 3.

Primary market context

Adyen N.V.

Digital

Market

Enterprise payment processing and acquiring for online/digital commerce

Geography

Global

Customer

Enterprise merchants and digital-native businesses

Role

PSP / gateway + processor + (direct or indirect) acquiring enablement

Revenue share

58.4%

MarketAxess Holdings Inc.

Trade Execution Solutions

Market

Electronic fixed-income trade execution platforms (credit and rates)

Geography

Global

Customer

Institutional investors, broker-dealers, and alternative liquidity providers

Role

Electronic trading venue / marketplace operator

Revenue share

87.1%

Side-by-side metrics

Adyen N.V.
MarketAxess Holdings Inc.
Ticker / Exchange
ADYEN - Euronext Amsterdam
MKTX - NASDAQ Global Select Market
Market cap (USD)
$31.6B
$6.8B
Gross margin (TTM)
69.8%
72.2%
Operating margin (TTM)
58.6%
40.4%
Net margin (TTM)
43.8%
29.2%
Sector
Financials
Financials
Industry
Software - Infrastructure
Financial - Capital Markets
HQ country
NL
US
Primary segment
Digital
Trade Execution Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
19% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
74 / 100
Moat domains
Network, Demand, Legal, Supply
Network, Demand, Legal
Last update
2025-12-28
2025-12-23

Moat coverage

Shared moat types

Data Network EffectsData Workflow LockinCompliance AdvantageSwitching Costs General

Adyen N.V. strengths

Suite BundlingOperational Excellence

MarketAxess Holdings Inc. strengths

Two Sided NetworkEcosystem Complements

Segment mix

Adyen N.V. segments

Full profile >

Digital

Oligopoly

58.4%

Unified Commerce

Competitive

30.6%

Platforms

Oligopoly

11%

MarketAxess Holdings Inc. segments

Full profile >

Trade Execution Solutions

Oligopoly

87.1%

Services (Data, Post-Trade and Technology)

Competitive

12.9%

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.