VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

ASX Limited vs Global Payments Inc.

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

ASX Limited

ASX · ASX

Market cap (USD)$10.2B
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

Global Payments Inc.

GPN · New York Stock Exchange

Market cap (USD)$18.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryUS
Data as of2026-01-10
Moat score
62/ 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 Global Payments Inc.'s moat claims, evidence, and risks.

View GPN analysis

Comparison highlights

  • Moat score gap: ASX Limited leads (80 / 100 vs 62 / 100 for Global Payments Inc.).
  • Segment focus: ASX Limited has 4 segments (31.5% in Markets); Global Payments Inc. has 2 segments (76.1% in Merchant Solutions).
  • Primary market structure: Duopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: ASX Limited has 4 moat types across 3 domains; Global Payments Inc. has 6 across 4.

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%

Global Payments Inc.

Merchant Solutions

Market

Merchant acquiring and integrated payments (card-present and e-commerce)

Geography

Global

Customer

Merchants (SMB to enterprise) and software platforms

Role

Acquirer and payment processor

Revenue share

76.1%

Side-by-side metrics

ASX Limited
Global Payments Inc.
Ticker / Exchange
ASX - ASX
GPN - New York Stock Exchange
Market cap (USD)
$10.2B
$18.8B
Gross margin (TTM)
75.4%
n/a
Operating margin (TTM)
94.8%
n/a
Net margin (TTM)
40.9%
n/a
Sector
Financials
Financials
Industry
Financial - Data & Stock Exchanges
n/a
HQ country
AU
US
Primary segment
Markets
Merchant Solutions
Market structure
Duopoly
Competitive
Market share
80%-84% (reported)
n/a
HHI estimate
6,500
n/a
Pricing power
Moderate
Moderate
Moat score
80 / 100
62 / 100
Moat domains
Legal, Network, Demand
Network, Demand, Supply, Legal
Last update
2025-12-28
2026-01-10

Moat coverage

Shared moat types

Data Workflow LockinSwitching Costs General

ASX Limited strengths

Concession LicenseTwo Sided Network

Global Payments Inc. strengths

Ecosystem ComplementsScale Economies Unit CostLong Term ContractsCompliance Advantage

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%

Global Payments Inc. segments

Full profile >

Merchant Solutions

Competitive

76.1%

Issuer Solutions

Oligopoly

24.6%

Want the full wide moat stocks list?

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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.