VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

ASX Limited vs Stevanato Group S.p.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

Stevanato Group S.p.A.

STVN · New York Stock Exchange

Market cap (USD)$5.7B
Gross margin (TTM)28.6%
Operating margin (TTM)16.7%
Net margin (TTM)12%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryIT
Data as of2026-01-05
Moat score
59/ 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 Stevanato Group S.p.A.'s moat claims, evidence, and risks.

View STVN analysis

Comparison highlights

  • Moat score gap: ASX Limited leads (80 / 100 vs 59 / 100 for Stevanato Group S.p.A.).
  • Segment focus: ASX Limited has 4 segments (31.5% in Markets); Stevanato Group S.p.A. has 3 segments (46.3% in Other Containment and Delivery Solutions).
  • Primary market structure: Duopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: ASX Limited has 4 moat types across 3 domains; Stevanato Group S.p.A. has 8 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%

Stevanato Group S.p.A.

Other Containment and Delivery Solutions

Market

Standard primary packaging and related services for injectable drugs and diagnostics

Geography

Global

Customer

Pharmaceutical, biotechnology, diagnostics and life sciences companies; fill-finish CMOs

Role

Primary packaging/component manufacturer and contract manufacturing partner

Revenue share

46.3%

Side-by-side metrics

ASX Limited
Stevanato Group S.p.A.
Ticker / Exchange
ASX - ASX
STVN - New York Stock Exchange
Market cap (USD)
$9.8B
$5.7B
Gross margin (TTM)
75.4%
28.6%
Operating margin (TTM)
94.8%
16.7%
Net margin (TTM)
40.9%
12%
Sector
Financials
Healthcare
Industry
Financial - Data & Stock Exchanges
Medical - Instruments & Supplies
HQ country
AU
IT
Primary segment
Markets
Other Containment and Delivery Solutions
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
59 / 100
Moat domains
Legal, Network, Demand
Demand, Supply, Network
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

Stevanato Group S.p.A. strengths

Design In QualificationCapex Knowhow ScaleDe Facto StandardBrand TrustLong Term ContractsOperational ExcellenceService Field NetworkScope 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%

Stevanato Group S.p.A. segments

Full profile >

High-Value Solutions

Oligopoly

38.3%

Other Containment and Delivery Solutions

Competitive

46.3%

Engineering

Competitive

15.4%

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.