VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

ASX Limited vs Salesforce, Inc.

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

ASX Limited

ASX · ASX

Market cap (USD)
SectorFinancials
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

Salesforce, Inc.

CRM · New York Stock Exchange

Market cap (USD)$243.5B
SectorTechnology
CountryUS
Data as of2025-12-22
Moat score
70/ 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 Salesforce, Inc.'s moat claims, evidence, and risks.

View CRM analysis

Comparison highlights

  • Moat score gap: ASX Limited leads (80 / 100 vs 70 / 100 for Salesforce, Inc.).
  • Segment focus: ASX Limited has 4 segments (31.5% in Markets); Salesforce, Inc. has 3 segments (78.9% in CRM Applications Suite (Sales, Service, Platform, Marketing & Commerce)).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: ASX Limited has 4 moat types across 3 domains; Salesforce, Inc. has 6 across 2.

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%

Salesforce, Inc.

CRM Applications Suite (Sales, Service, Platform, Marketing & Commerce)

Market

CRM applications (sales, customer service, marketing, digital commerce) delivered as SaaS

Geography

Global

Customer

Business (SMB to enterprise)

Role

SaaS application & platform vendor

Revenue share

78.9%

Side-by-side metrics

ASX Limited
Salesforce, Inc.
Ticker / Exchange
ASX - ASX
CRM - New York Stock Exchange
Market cap (USD)
n/a
$243.5B
Sector
Financials
Technology
HQ country
AU
US
Primary segment
Markets
CRM Applications Suite (Sales, Service, Platform, Marketing & Commerce)
Market structure
Duopoly
Oligopoly
Market share
80%-84% (reported)
20.7% (reported)
HHI estimate
6,500
n/a
Pricing power
Moderate
Moderate
Moat score
80 / 100
70 / 100
Moat domains
Legal, Network, Demand
Demand, Network
Last update
2025-12-28
2025-12-22

Moat coverage

Shared moat types

Data Workflow Lockin

ASX Limited strengths

Concession LicenseTwo Sided NetworkSwitching Costs General

Salesforce, Inc. strengths

Suite BundlingEcosystem ComplementsLong Term ContractsInteroperability HubTraining Org Change Costs

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%

Salesforce, Inc. segments

Full profile >

CRM Applications Suite (Sales, Service, Platform, Marketing & Commerce)

Oligopoly

78.9%

Integration & Analytics (MuleSoft, Tableau, related subscriptions)

Competitive

15.2%

Professional Services & Other

Competitive

5.8%

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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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.