VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Amazon.com, Inc. vs Nasdaq, Inc.

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

Amazon.com, Inc.

AMZN · NASDAQ

Market cap (USD)$2.5T
SectorConsumer
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

Nasdaq, Inc.

NDAQ · NASDAQ

Market cap (USD)
SectorFinancials
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: Amazon.com, Inc. leads (87 / 100 vs 76 / 100 for Nasdaq, Inc.).
  • Segment focus: Amazon.com, Inc. has 4 segments (73.5% in Amazon Stores (Retail, Marketplace, Prime Subscriptions)); Nasdaq, Inc. has 3 segments (42.4% in Capital Access Platforms).
  • Moat breadth: Amazon.com, Inc. has 10 moat types across 4 domains; Nasdaq, Inc. has 9 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%

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

Amazon.com, Inc.
Nasdaq, Inc.
Ticker / Exchange
AMZN - NASDAQ
NDAQ - NASDAQ
Market cap (USD)
$2.5T
n/a
Sector
Consumer
Financials
HQ country
US
US
Primary segment
Amazon Stores (Retail, Marketplace, Prime Subscriptions)
Capital Access Platforms
Market structure
Oligopoly
Oligopoly
Market share
39%-42% (estimated)
80%-84% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
87 / 100
76 / 100
Moat domains
Supply, Demand, Network, Financial
Legal, Network, Supply, Demand, Financial
Last update
2025-12-29
2025-12-31

Moat coverage

Shared moat types

Long Term ContractsTwo Sided NetworkPhysical Network Density

Amazon.com, Inc. strengths

Capex Knowhow ScaleScope EconomiesSuite BundlingHabit DefaultNegative Working CapitalDistribution ControlData Network Effects

Nasdaq, Inc. strengths

Concession LicenseBrand TrustDe Facto StandardBenchmark Pricing PowerData Workflow LockinCompliance Advantage

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%

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.

View the moat stocks list

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.