VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Arthur J. Gallagher & Co. vs ASX Limited

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

Arthur J. Gallagher & Co.

AJG · New York Stock Exchange

Market cap (USD)$67.9B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
IndustryInsurance - Brokers
CountryUS
Data as of2026-01-09
Moat score
69/ 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 Arthur J. Gallagher & Co.'s moat claims, evidence, and risks.

View AJG analysis

ASX Limited

ASX · ASX

Market cap (USD)$10.2B
Gross margin (TTM)75.4%
Operating margin (TTM)94.8%
Net margin (TTM)40.9%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryAU
Data as of2025-12-28
Moat score
80/ 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 ASX Limited's moat claims, evidence, and risks.

View ASX analysis

Comparison highlights

  • Moat score gap: ASX Limited leads (80 / 100 vs 69 / 100 for Arthur J. Gallagher & Co.).
  • Segment focus: Arthur J. Gallagher & Co. has 2 segments (86% in Brokerage); ASX Limited has 4 segments (31.5% in Markets).
  • Primary market structure: Oligopoly vs Duopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Arthur J. Gallagher & Co. has 4 moat types across 2 domains; ASX Limited has 4 across 3.

Primary market context

Arthur J. Gallagher & Co.

Brokerage

Market

Insurance and reinsurance brokerage and consulting

Geography

Global

Customer

Commercial, industrial, public sector, nonprofit and other organizations; underwriting enterprises for reinsurance placements

Role

Intermediary / broker / advisor

Revenue share

86%

ASX Limited

Markets

Market

Trading venues for Australian cash equities and exchange-traded derivatives (futures, options)

Geography

Australia

Customer

Brokers/market participants, proprietary trading firms, institutional investors

Role

Market operator / trading venue

Revenue share

31.5%

Side-by-side metrics

Arthur J. Gallagher & Co.
ASX Limited
Ticker / Exchange
AJG - New York Stock Exchange
ASX - ASX
Market cap (USD)
$67.9B
$10.2B
Gross margin (TTM)
n/a
75.4%
Operating margin (TTM)
n/a
94.8%
Net margin (TTM)
n/a
40.9%
Sector
Financials
Financials
Industry
Insurance - Brokers
Financial - Data & Stock Exchanges
HQ country
US
AU
Primary segment
Brokerage
Markets
Market structure
Oligopoly
Duopoly
Market share
n/a
80%-84% (reported)
HHI estimate
n/a
6,500
Pricing power
Moderate
Moderate
Moat score
69 / 100
80 / 100
Moat domains
Supply, Demand
Legal, Network, Demand
Last update
2026-01-09
2025-12-28

Moat coverage

Shared moat types

Data Workflow Lockin

Arthur J. Gallagher & Co. strengths

Service Field NetworkBrand TrustOperational Excellence

ASX Limited strengths

Concession LicenseTwo Sided NetworkSwitching Costs General

Segment mix

Arthur J. Gallagher & Co. segments

Full profile >

Brokerage

Oligopoly

86%

Risk Management

Competitive

14%

ASX Limited segments

Full profile >

Listings

Quasi-Monopoly

18.8%

Markets

Duopoly

31.5%

Technology & Data

Competitive

24.9%

Securities & Payments

Monopoly

24.8%

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.