VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

ASX Limited vs Universal Music Group N.V.

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

ASX Limited

ASX · ASX

Market cap (USD)
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

Universal Music Group N.V.

UMG · Euronext Amsterdam

Market cap (USD)
SectorCommunication Services
CountryNL
Data as of2025-12-28
Moat score
77/ 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 Universal Music Group N.V.'s moat claims, evidence, and risks.

View UMG analysis

Comparison highlights

  • Moat score gap: ASX Limited leads (80 / 100 vs 77 / 100 for Universal Music Group N.V.).
  • Segment focus: ASX Limited has 4 segments (31.5% in Markets); Universal Music Group N.V. has 3 segments (75.2% in Recorded Music).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: ASX Limited has 4 moat types across 3 domains; Universal Music Group N.V. 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%

Universal Music Group N.V.

Recorded Music

Market

Recorded music rights (labels) and monetization (streaming, physical, licensing/sync)

Geography

Global

Customer

Digital service providers (audio/video/social), physical retailers, and licensing counterparties

Role

Label / master rights holder; artist development, marketing and distribution

Revenue share

75.2%

Side-by-side metrics

ASX Limited
Universal Music Group N.V.
Ticker / Exchange
ASX - ASX
UMG - Euronext Amsterdam
Market cap (USD)
n/a
n/a
Sector
Financials
Communication Services
HQ country
AU
NL
Primary segment
Markets
Recorded Music
Market structure
Duopoly
Oligopoly
Market share
80%-84% (reported)
31%-33% (estimated)
HHI estimate
6,500
n/a
Pricing power
Moderate
Moderate
Moat score
80 / 100
77 / 100
Moat domains
Legal, Network, Demand
Legal, Supply, Demand
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

No overlap yet.

ASX Limited strengths

Concession LicenseTwo Sided NetworkData Workflow LockinSwitching Costs General

Universal Music Group N.V. strengths

Content Rights CurrencyScale Economies Unit CostBrand TrustLong Term ContractsService Field Network

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%

Universal Music Group N.V. segments

Full profile >

Recorded Music

Oligopoly

75.2%

Music Publishing

Oligopoly

17.9%

Merchandising and Other

Competitive

7.1%

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.