VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

ASX Limited vs Veeva Systems 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

Veeva Systems Inc.

VEEV · New York Stock Exchange

Market cap (USD)$47.7B
SectorTechnology
CountryUS
Data as of2025-12-29
Moat score
82/ 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 Veeva Systems Inc.'s moat claims, evidence, and risks.

View VEEV analysis

Comparison highlights

  • Moat score gap: Veeva Systems Inc. leads (82 / 100 vs 80 / 100 for ASX Limited).
  • Segment focus: ASX Limited has 4 segments (31.5% in Markets); Veeva Systems Inc. has 2 segments (53% in R&D Solutions).
  • Primary market structure: Duopoly vs Competitive. Pricing power: Moderate vs Strong.
  • Moat breadth: ASX Limited has 4 moat types across 3 domains; Veeva Systems Inc. has 4 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%

Veeva Systems Inc.

R&D Solutions

Market

Life sciences R&D, clinical, regulatory, safety, and quality cloud applications (Vault platform-based suites)

Geography

Global

Customer

Life sciences companies plus CROs and related regulated organizations

Role

Vertical SaaS platform owner

Revenue share

53%

Side-by-side metrics

ASX Limited
Veeva Systems Inc.
Ticker / Exchange
ASX - ASX
VEEV - New York Stock Exchange
Market cap (USD)
n/a
$47.7B
Sector
Financials
Technology
HQ country
AU
US
Primary segment
Markets
R&D Solutions
Market structure
Duopoly
Competitive
Market share
80%-84% (reported)
n/a
HHI estimate
6,500
n/a
Pricing power
Moderate
Strong
Moat score
80 / 100
82 / 100
Moat domains
Legal, Network, Demand
Demand, Legal, Network
Last update
2025-12-28
2025-12-29

Moat coverage

Shared moat types

Data Workflow Lockin

ASX Limited strengths

Concession LicenseTwo Sided NetworkSwitching Costs General

Veeva Systems Inc. strengths

Compliance AdvantageEcosystem ComplementsSuite 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%

Veeva Systems Inc. segments

Full profile >

Commercial Solutions

Oligopoly

47%

R&D Solutions

Competitive

53%

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.