VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

ASX Limited vs Sika AG

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

Sika AG

SIKA · SIX Swiss Exchange

Market cap (USD)$33B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorMaterials
Industry
CountryCH
Data as of2026-01-11
Moat score
69/ 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 Sika AG's moat claims, evidence, and risks.

View SIKA analysis

Comparison highlights

  • Moat score gap: ASX Limited leads (80 / 100 vs 69 / 100 for Sika AG).
  • Segment focus: ASX Limited has 4 segments (31.5% in Markets); Sika AG has 2 segments (85.5% in Construction).
  • Primary market structure: Duopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: ASX Limited has 4 moat types across 3 domains; Sika AG has 6 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%

Sika AG

Construction

Market

Construction chemicals and building finishing systems (concrete admixtures, waterproofing, roofing, flooring, repair, sealants/adhesives)

Geography

Global

Customer

B2B: contractors, installers, distributors/building-material channels, ready-mix and concrete producers, asset owners

Role

Specialty chemicals manufacturer + system provider (specification + application support)

Revenue share

85.5%

Side-by-side metrics

ASX Limited
Sika AG
Ticker / Exchange
ASX - ASX
SIKA - SIX Swiss Exchange
Market cap (USD)
$10.2B
$33B
Gross margin (TTM)
75.4%
n/a
Operating margin (TTM)
94.8%
n/a
Net margin (TTM)
40.9%
n/a
Sector
Financials
Materials
Industry
Financial - Data & Stock Exchanges
n/a
HQ country
AU
CH
Primary segment
Markets
Construction
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
69 / 100
Moat domains
Legal, Network, Demand
Supply, Demand, Legal
Last update
2025-12-28
2026-01-11

Moat coverage

Shared moat types

No overlap yet.

ASX Limited strengths

Concession LicenseTwo Sided NetworkData Workflow LockinSwitching Costs General

Sika AG strengths

Physical Network DensityBrand TrustService Field NetworkCompliance AdvantageCapex Knowhow ScaleDesign In Qualification

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%

Sika AG segments

Full profile >

Construction

Competitive

85.5%

Automotive & Industry

Oligopoly

14.5%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.