VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

ASX Limited vs The Italian Sea 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)$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

The Italian Sea Group S.p.A.

TISG · Euronext Milan (Borsa Italiana)

Market cap (USD)$241.7M
Gross margin (TTM)70.9%
Operating margin (TTM)12.1%
Net margin (TTM)3.8%
SectorConsumer
IndustryLeisure
CountryIT
Data as of2026-01-08
Moat score
61/ 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 The Italian Sea Group S.p.A.'s moat claims, evidence, and risks.

View TISG analysis

Comparison highlights

  • Moat score gap: ASX Limited leads (80 / 100 vs 61 / 100 for The Italian Sea Group S.p.A.).
  • Segment focus: ASX Limited has 4 segments (31.5% in Markets); The Italian Sea Group S.p.A. has 2 segments (89.7% in Shipbuilding).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: ASX Limited has 4 moat types across 3 domains; The Italian Sea Group S.p.A. has 5 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%

The Italian Sea Group S.p.A.

Shipbuilding

Market

Luxury yacht and superyacht shipbuilding (motor and sailing, 24m+ projects under construction/contract)

Geography

Global

Customer

Ultra-high-net-worth individuals (owners) and yacht brokers; occasional fleet/charter buyers

Role

Designer/shipyard (OEM) and brand owner

Revenue share

89.7%

Side-by-side metrics

ASX Limited
The Italian Sea Group S.p.A.
Ticker / Exchange
ASX - ASX
TISG - Euronext Milan (Borsa Italiana)
Market cap (USD)
$10.2B
$241.7M
Gross margin (TTM)
75.4%
70.9%
Operating margin (TTM)
94.8%
12.1%
Net margin (TTM)
40.9%
3.8%
Sector
Financials
Consumer
Industry
Financial - Data & Stock Exchanges
Leisure
HQ country
AU
IT
Primary segment
Markets
Shipbuilding
Market structure
Duopoly
Oligopoly
Market share
80%-84% (reported)
1.8%-2.2% (implied)
HHI estimate
6,500
n/a
Pricing power
Moderate
Moderate
Moat score
80 / 100
61 / 100
Moat domains
Legal, Network, Demand
Demand, Supply, Legal
Last update
2025-12-28
2026-01-08

Moat coverage

Shared moat types

Concession License

ASX Limited strengths

Two Sided NetworkData Workflow LockinSwitching Costs General

The Italian Sea Group S.p.A. strengths

Brand TrustSupply Chain ControlLong Term ContractsOperational Excellence

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%

The Italian Sea Group S.p.A. segments

Full profile >

Shipbuilding

Oligopoly

89.7%

Refit

Competitive

10.3%

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.