VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

ASX Limited vs Dino Polska S.A.

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

ASX Limited

ASX · ASX

Market cap (USD)$9.8B
Gross margin (TTM)75.4%
Operating margin (TTM)94.8%
Net margin (TTM)40.9%
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

Dino Polska S.A.

DNP · Warsaw Stock Exchange

Market cap (USD)$3.7B
Gross margin (TTM)26.1%
Operating margin (TTM)272.7%
Net margin (TTM)261.5%
SectorConsumer
IndustryAsset Management - Income
CountryPL
Data as of2026-01-05
Moat score
66/ 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 Dino Polska S.A.'s moat claims, evidence, and risks.

View DNP analysis

Comparison highlights

  • Moat score gap: ASX Limited leads (80 / 100 vs 66 / 100 for Dino Polska S.A.).
  • Segment focus: ASX Limited has 4 segments (31.5% in Markets); Dino Polska S.A. has 1 segment (100% in Proximity grocery retail (Dino stores)).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Weak.
  • Moat breadth: ASX Limited has 4 moat types across 3 domains; Dino Polska S.A. has 5 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%

Dino Polska S.A.

Proximity grocery retail (Dino stores)

Market

Retail grocery (mid-sized proximity supermarkets)

Geography

Poland

Customer

Households / consumers

Role

Brick-and-mortar grocery retailer

Revenue share

100%

Side-by-side metrics

ASX Limited
Dino Polska S.A.
Ticker / Exchange
ASX - ASX
DNP - Warsaw Stock Exchange
Market cap (USD)
$9.8B
$3.7B
Gross margin (TTM)
75.4%
26.1%
Operating margin (TTM)
94.8%
272.7%
Net margin (TTM)
40.9%
261.5%
Sector
Financials
Consumer
Industry
Financial - Data & Stock Exchanges
Asset Management - Income
HQ country
AU
PL
Primary segment
Markets
Proximity grocery retail (Dino stores)
Market structure
Duopoly
Oligopoly
Market share
80%-84% (reported)
7%-9% (reported)
HHI estimate
6,500
n/a
Pricing power
Moderate
Weak
Moat score
80 / 100
66 / 100
Moat domains
Legal, Network, Demand
Supply, Demand
Last update
2025-12-28
2026-01-05

Moat coverage

Shared moat types

No overlap yet.

ASX Limited strengths

Concession LicenseTwo Sided NetworkData Workflow LockinSwitching Costs General

Dino Polska S.A. strengths

Physical Network DensityHabit DefaultSupply Chain ControlOperational ExcellenceScale Economies Unit Cost

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%

Dino Polska S.A. segments

Full profile >

Proximity grocery retail (Dino stores)

Oligopoly

100%

Want the full wide moat stocks list?

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Looking for expansion-stage stocks?

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.