VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Alcon Inc. vs MarketAxess Holdings Inc.

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

Alcon Inc.

ALC · New York Stock Exchange

Market cap (USD)$39.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryCH
Data as of2026-01-10
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 Alcon Inc.'s moat claims, evidence, and risks.

View ALC analysis

MarketAxess Holdings Inc.

MKTX · NASDAQ Global Select Market

Market cap (USD)$6.3B
Gross margin (TTM)66.2%
Operating margin (TTM)41.2%
Net margin (TTM)26.2%
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 71 / 100 for Alcon Inc.).
  • Segment focus: Alcon Inc. has 2 segments (56% in Surgical); MarketAxess Holdings Inc. has 2 segments (87.1% in Trade Execution Solutions).
  • Moat breadth: Alcon Inc. has 7 moat types across 3 domains; MarketAxess Holdings Inc. has 6 across 3.

Primary market context

Alcon Inc.

Surgical

Market

Ophthalmic surgical devices (implantables, consumables, equipment) and related service/training

Geography

Global

Customer

Ophthalmic surgeons, hospitals, ambulatory surgery centers, group purchasing organizations

Role

Medical device OEM with direct service, clinical support, and training

Revenue share

56%

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

Alcon Inc.
MarketAxess Holdings Inc.
Ticker / Exchange
ALC - New York Stock Exchange
MKTX - NASDAQ Global Select Market
Market cap (USD)
$39.8B
$6.3B
Gross margin (TTM)
n/a
66.2%
Operating margin (TTM)
n/a
41.2%
Net margin (TTM)
n/a
26.2%
Sector
Healthcare
Financials
Industry
n/a
Financial - Capital Markets
HQ country
CH
US
Primary segment
Surgical
Trade Execution Solutions
Market structure
Oligopoly
Oligopoly
Market share
40%-46% (implied)
19% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
74 / 100
Moat domains
Demand, Supply, Legal
Network, Demand, Legal
Last update
2026-01-10
2025-12-23

Moat coverage

Shared moat types

Compliance Advantage

Alcon Inc. strengths

Installed Base ConsumablesSuite BundlingService Field NetworkBrand TrustProcurement InertiaCapex Knowhow Scale

MarketAxess Holdings Inc. strengths

Two Sided NetworkData Workflow LockinData Network EffectsSwitching Costs GeneralEcosystem Complements

Segment mix

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

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?

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

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Looking for expansion-stage stocks?

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

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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.