VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

reAlpha Tech Corp. vs Nasdaq, Inc.

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

reAlpha Tech Corp.

AIRE · Nasdaq Capital Market

Market cap (USD)$58.1M
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorReal Estate
Industry
CountryUS
Data as of2026-01-02
Moat score
42/ 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 reAlpha Tech Corp.'s moat claims, evidence, and risks.

View AIRE analysis

Nasdaq, Inc.

NDAQ · NASDAQ

Market cap (USD)$55.3B
Gross margin (TTM)41.1%
Operating margin (TTM)27.2%
Net margin (TTM)19.9%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
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 42 / 100 for reAlpha Tech Corp.).
  • Segment focus: reAlpha Tech Corp. has 2 segments (83.5% in Homebuying Platform & Transaction Services); Nasdaq, Inc. has 3 segments (42.4% in Capital Access Platforms).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: reAlpha Tech Corp. has 4 moat types across 2 domains; Nasdaq, Inc. has 9 across 5.

Primary market context

reAlpha Tech Corp.

Homebuying Platform & Transaction Services

Market

Integrated U.S. residential real estate transaction services platform (brokerage + mortgage + title)

Geography

United States

Customer

Homebuyers

Role

Transaction intermediary / service provider

Revenue share

83.5%

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

reAlpha Tech Corp.
Nasdaq, Inc.
Ticker / Exchange
AIRE - Nasdaq Capital Market
NDAQ - NASDAQ
Market cap (USD)
$58.1M
$55.3B
Gross margin (TTM)
n/a
41.1%
Operating margin (TTM)
n/a
27.2%
Net margin (TTM)
n/a
19.9%
Sector
Real Estate
Financials
Industry
n/a
Financial - Data & Stock Exchanges
HQ country
US
US
Primary segment
Homebuying Platform & Transaction Services
Capital Access Platforms
Market structure
Competitive
Oligopoly
Market share
n/a
80%-84% (reported)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
42 / 100
76 / 100
Moat domains
Demand, Legal
Legal, Network, Supply, Demand, Financial
Last update
2026-01-02
2025-12-31

Moat coverage

Shared moat types

Data Workflow LockinCompliance Advantage

reAlpha Tech Corp. strengths

Suite BundlingSwitching Costs General

Nasdaq, Inc. strengths

Concession LicenseTwo Sided NetworkPhysical Network DensityBrand TrustDe Facto StandardBenchmark Pricing PowerLong Term Contracts

Segment mix

reAlpha Tech Corp. segments

Full profile >

Homebuying Platform & Transaction Services

Competitive

83.5%

AiChat Conversational AI SaaS

Competitive

16.5%

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.

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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.