VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

ASX Limited vs Visa Inc.

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

Visa Inc.

V · New York Stock Exchange

Market cap (USD)$677.5B
SectorFinancials
CountryUS
Data as of2025-12-21
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 Visa Inc.'s moat claims, evidence, and risks.

View V analysis

Comparison highlights

  • Moat score gap: ASX Limited leads (80 / 100 vs 77 / 100 for Visa Inc.).
  • Segment focus: ASX Limited has 4 segments (31.5% in Markets); Visa Inc. has 4 segments (35.9% in Data processing revenue).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs n/a.
  • Moat breadth: ASX Limited has 4 moat types across 3 domains; Visa Inc. has 7 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%

Visa Inc.

Data processing revenue

Market

Payment transaction processing (authorization, clearing and settlement) for VisaNet and related network access

Geography

Global

Customer

Issuers, acquirers, payment processors

Role

Network processor / switch (authorization, clearing, settlement)

Revenue share

35.9%

Side-by-side metrics

ASX Limited
Visa Inc.
Ticker / Exchange
ASX - ASX
V - New York Stock Exchange
Market cap (USD)
n/a
$677.5B
Sector
Financials
Financials
HQ country
AU
US
Primary segment
Markets
Data processing revenue
Market structure
Duopoly
Oligopoly
Market share
80%-84% (reported)
n/a
HHI estimate
6,500
n/a
Pricing power
Moderate
n/a
Moat score
80 / 100
77 / 100
Moat domains
Legal, Network, Demand
Network, Demand, Supply, Legal
Last update
2025-12-28
2025-12-21

Moat coverage

Shared moat types

Two Sided NetworkData Workflow Lockin

ASX Limited strengths

Concession LicenseSwitching Costs General

Visa Inc. strengths

Brand TrustClearing SettlementCapex Knowhow ScaleCompliance AdvantageSuite Bundling

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%

Visa Inc. segments

Full profile >

Service revenue

Oligopoly

31.5%

Data processing revenue

Oligopoly

35.9%

International transaction revenue

Oligopoly

25.4%

Other revenue

Competitive

7.3%

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.