VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

ASX Limited vs American Express Company

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

ASX Limited

ASX · ASX

Market cap (USD)$8.3B
Gross margin (TTM)91.8%
Operating margin (TTM)69.7%
Net margin (TTM)31.8%
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

American Express Company

AXP · New York Stock Exchange

Market cap (USD)$215.3B
Gross margin (TTM)83.5%
Operating margin (TTM)20.7%
Net margin (TTM)13.6%
SectorFinancials
IndustryFinancial - Credit Services
CountryUS
Data as of2026-04-25
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 American Express Company's moat claims, evidence, and risks.

View AXP analysis

Comparison highlights

  • Moat score gap: ASX Limited leads (80 / 100 vs 76 / 100 for American Express Company).
  • Segment focus: ASX Limited has 4 segments (31.5% in Markets); American Express Company has 4 segments (48% in U.S. Consumer Services).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: ASX Limited has 4 moat types across 3 domains; American Express Company has 7 across 3.

Primary market context

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%

American Express Company

U.S. Consumer Services

Market

U.S. premium consumer credit, charge, banking, lending, travel, dining and lifestyle card services

Geography

United States

Customer

Affluent and mass-affluent U.S. consumers

Role

Issuer, lender, rewards platform, banking provider, travel/dining service provider and closed-loop network participant

Revenue share

48%

Side-by-side metrics

ASX Limited
American Express Company
Ticker / Exchange
ASX - ASX
AXP - New York Stock Exchange
Market cap (USD)
$8.3B
$215.3B
Gross margin (TTM)
91.8%
83.5%
Operating margin (TTM)
69.7%
20.7%
Net margin (TTM)
31.8%
13.6%
Sector
Financials
Financials
Industry
Financial - Data & Stock Exchanges
Financial - Credit Services
HQ country
AU
US
Primary segment
Markets
U.S. Consumer Services
Market structure
Duopoly
Oligopoly
Market share
80%-84% (reported)
10.5%-11% (implied)
HHI estimate
6,500
n/a
Pricing power
Moderate
Strong
Moat score
80 / 100
76 / 100
Moat domains
Legal, Network, Demand
Demand, Network, Supply
Last update
2025-12-28
2026-04-25

Moat coverage

Shared moat types

Two Sided NetworkData Workflow Lockin

ASX Limited strengths

Concession LicenseSwitching Costs General

American Express Company strengths

Brand TrustHabit DefaultData Network EffectsProcurement InertiaScope Economies

Segment mix

ASX Limited segments

Full profile >

Listings

Quasi-Monopoly

18.8%

Markets

Duopoly

31.5%

Technology & Data

Competitive

24.9%

Securities & Payments

Monopoly

24.8%

American Express Company segments

Full profile >

U.S. Consumer Services

Oligopoly

48%

Commercial Services

Oligopoly

23.4%

International Card Services

Competitive

17.9%

Global Merchant and Network Services

Oligopoly

10.7%

Want the full wide moat stocks list?

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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.