VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Amazon.com, Inc. vs Deutsche Boerse AG

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

Amazon.com, Inc.

AMZN · NASDAQ

Market cap (USD)$2.4T
Gross margin (TTM)50.1%
Operating margin (TTM)11%
Net margin (TTM)11.1%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2025-12-29
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 Amazon.com, Inc.'s moat claims, evidence, and risks.

View AMZN analysis

Deutsche Boerse AG

DB1 · Xetra

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryDE
Data as of2026-01-03
Moat score
81/ 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 Deutsche Boerse AG's moat claims, evidence, and risks.

View DB1 analysis

Comparison highlights

  • Moat score gap: Amazon.com, Inc. leads (87 / 100 vs 81 / 100 for Deutsche Boerse AG).
  • Segment focus: Amazon.com, Inc. has 4 segments (73.5% in Amazon Stores (Retail, Marketplace, Prime Subscriptions)); Deutsche Boerse AG has 8 segments (28.2% in Securities Services (Clearstream: ICSD/CSD settlement + custody)).
  • Primary market structure: Oligopoly vs Duopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Amazon.com, Inc. has 10 moat types across 4 domains; Deutsche Boerse AG has 12 across 5.

Primary market context

Amazon.com, Inc.

Amazon Stores (Retail, Marketplace, Prime Subscriptions)

Market

US retail ecommerce marketplace and online retail (integrated fulfillment + membership shipping)

Geography

United States

Customer

Consumers and third-party merchants

Role

Marketplace operator, retailer, and fulfillment provider

Revenue share

73.5%

Deutsche Boerse AG

Securities Services (Clearstream: ICSD/CSD settlement + custody)

Market

Securities settlement and custody infrastructure (ICSD/CSD) for Eurobonds and domestic markets

Geography

Global (Eurobonds + multiple domestic markets)

Customer

Custodian banks, broker-dealers, central banks, institutional investors

Role

Settlement/custody infrastructure and asset servicing

Revenue share

28.2%

Side-by-side metrics

Amazon.com, Inc.
Deutsche Boerse AG
Ticker / Exchange
AMZN - NASDAQ
DB1 - Xetra
Market cap (USD)
$2.4T
n/a
Gross margin (TTM)
50.1%
n/a
Operating margin (TTM)
11%
n/a
Net margin (TTM)
11.1%
n/a
Sector
Consumer
Financials
Industry
Specialty Retail
n/a
HQ country
US
DE
Primary segment
Amazon Stores (Retail, Marketplace, Prime Subscriptions)
Securities Services (Clearstream: ICSD/CSD settlement + custody)
Market structure
Oligopoly
Duopoly
Market share
39%-42% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
87 / 100
81 / 100
Moat domains
Supply, Demand, Network, Financial
Legal, Network, Demand, Financial, Supply
Last update
2025-12-29
2026-01-03

Moat coverage

Shared moat types

Two Sided NetworkSuite Bundling

Amazon.com, Inc. strengths

Capex Knowhow ScaleScope EconomiesLong Term ContractsPhysical Network DensityHabit DefaultNegative Working CapitalDistribution ControlData Network Effects

Deutsche Boerse AG strengths

Regulated Standards PipeDe Facto StandardClearing SettlementBrand TrustInteroperability HubFloat PrepaymentSwitching Costs GeneralScale Economies Unit CostData Workflow LockinFormat Lock In

Segment mix

Amazon.com, Inc. segments

Full profile >

Amazon Web Services (AWS)

Oligopoly

16.9%

Amazon Stores (Retail, Marketplace, Prime Subscriptions)

Oligopoly

73.5%

Advertising Services (Amazon Ads / Retail Media)

Oligopoly

8.8%

Other (healthcare, content licensing/distribution, shipping services, co-branded credit card agreements, etc.)

Competitive

0.9%

Deutsche Boerse AG segments

Full profile >

Financial Derivatives (Eurex trading + Eurex Clearing)

Oligopoly

22.4%

Commodities (EEX marketplaces + clearing)

Oligopoly

10.9%

Cash Equities (Xetra + Boerse Frankfurt)

Quasi-Monopoly

5.1%

FX & Digital Assets (360T + Crypto Finance)

Competitive

2.8%

Securities Services (Clearstream: ICSD/CSD settlement + custody)

Duopoly

28.2%

Fund Services (Vestima fund processing + Fund Centre distribution)

Oligopoly

8.5%

Software Solutions (SimCorp + Axioma Analytics)

Competitive

11.9%

ESG & Index (ISS STOXX: indices + ESG/governance data)

Oligopoly

10.1%

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.