VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

ASX Limited vs Fastenal Company

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

ASX Limited

ASX · ASX

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

Fastenal Company

FAST · Nasdaq Stock Market

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
CountryUS
Data as of2026-01-01
Moat score
60/ 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 Fastenal Company's moat claims, evidence, and risks.

View FAST analysis

Comparison highlights

  • Moat score gap: ASX Limited leads (80 / 100 vs 60 / 100 for Fastenal Company).
  • Segment focus: ASX Limited has 4 segments (31.5% in Markets); Fastenal Company has 3 segments (54.5% in Branch-based distribution (in-market branches)).
  • Primary market structure: Duopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: ASX Limited has 4 moat types across 3 domains; Fastenal Company 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%

Fastenal Company

Branch-based distribution (in-market branches)

Market

Industrial & construction supplies distribution (MRO/OEM consumables) via local branches

Geography

North America (primary) + select international

Customer

B2B

Role

Distributor / MRO supplier

Revenue share

54.5%

Side-by-side metrics

ASX Limited
Fastenal Company
Ticker / Exchange
ASX - ASX
FAST - Nasdaq Stock Market
Market cap (USD)
n/a
n/a
Gross margin (TTM)
75.4%
n/a
Operating margin (TTM)
94.8%
n/a
Net margin (TTM)
40.9%
n/a
Sector
Financials
Industrials
HQ country
AU
US
Primary segment
Markets
Branch-based distribution (in-market branches)
Market structure
Duopoly
Competitive
Market share
80%-84% (reported)
n/a
HHI estimate
6,500
n/a
Pricing power
Moderate
Weak
Moat score
80 / 100
60 / 100
Moat domains
Legal, Network, Demand
Supply, Demand
Last update
2025-12-28
2026-01-01

Moat coverage

Shared moat types

Data Workflow LockinSwitching Costs General

ASX Limited strengths

Concession LicenseTwo Sided Network

Fastenal Company strengths

Physical Network DensityOperational ExcellenceScope 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%

Fastenal Company segments

Full profile >

Branch-based distribution (in-market branches)

Competitive

54.5%

Onsite solutions (embedded customer locations)

Competitive

42.4%

Other / non-traditional sales (services & custom manufacturing)

Competitive

3.1%

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.