VOL. XCIV, NO. 247

* MOAT STOCKS COMPARISON *

NO ADVICE

Friday, December 26, 2025

Stock Comparison

ASML Holding N.V. vs MarketAxess Holdings Inc.

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

ASML Holding N.V.

ASML · Euronext Amsterdam

Market cap (USD)$417.7B
SectorTechnology
CountryNL
Data as of2025-12-21
Moat score
76/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

View full moat analysis >

MarketAxess Holdings Inc.

MKTX · NASDAQ Global Select Market

Market cap (USD)$6.7B
SectorFinancials
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.

View full moat analysis >

Side-by-side metrics

ASML Holding N.V.
MarketAxess Holdings Inc.
Ticker / Exchange
ASML - Euronext Amsterdam
MKTX - NASDAQ Global Select Market
Market cap (USD)
$417.7B
$6.7B
Sector
Technology
Financials
HQ country
NL
US
Primary segment
Installed Base Management (service, upgrades, field options)
Trade Execution Solutions
Market structure
Quasi-Monopoly
Oligopoly
Market share
n/a
19% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
76 / 100
74 / 100
Moat domains
Supply, Demand
Network, Demand, Legal
Last update
2025-12-21
2025-12-23

Moat coverage

Shared moat types

Switching Costs General

ASML Holding N.V. strengths

Supply Chain ControlCapex Knowhow ScaleBrand TrustService Field NetworkInstalled Base Consumables

MarketAxess Holdings Inc. strengths

Two Sided NetworkData Workflow LockinData Network EffectsCompliance AdvantageEcosystem Complements

Segment mix

ASML Holding N.V. segments

Full profile >

EUV lithography systems (incl. High-NA)

Monopoly

n/a

DUV lithography systems

Oligopoly

n/a

Installed Base Management (service, upgrades, field options)

Quasi-Monopoly

23%

MarketAxess Holdings Inc. segments

Full profile >

Trade Execution Solutions

Oligopoly

87.1%

Services (Data, Post-Trade and Technology)

Competitive

12.9%

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.