VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

Stock Comparison

Auto Trader Group plc vs Deutsche Boerse AG

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

Auto Trader Group plc

AUTO · London Stock Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorCommunication Services
Industry
CountryGB
Data as of2026-01-10
Moat score
96/ 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 Auto Trader Group plc's moat claims, evidence, and risks.

View AUTO analysis

Deutsche Boerse AG

DB1 · Xetra

Market cap (USD)$39B
Gross margin (TTM)54.3%
Operating margin (TTM)40.7%
Net margin (TTM)27.5%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryDE
Data as of2026-01-03
Moat score
81/ 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 Deutsche Boerse AG's moat claims, evidence, and risks.

View DB1 analysis

Comparison highlights

  • Moat score gap: Auto Trader Group plc leads (96 / 100 vs 81 / 100 for Deutsche Boerse AG).
  • Segment focus: Auto Trader Group plc has 2 segments (93.3% in Autotrader (UK automotive marketplace & data platform)); Deutsche Boerse AG has 8 segments (28.2% in Securities Services (Clearstream: ICSD/CSD settlement + custody)).
  • Primary market structure: Quasi-Monopoly vs Duopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Auto Trader Group plc has 4 moat types across 2 domains; Deutsche Boerse AG has 12 across 5.

Primary market context

Auto Trader Group plc

Autotrader (UK automotive marketplace & data platform)

Market

UK digital automotive marketplace (new & used) with retailer advertising/data products

Geography

United Kingdom

Customer

Consumers, vehicle retailers, OEMs/advertising agencies

Role

Two-sided marketplace + advertising/data & workflow tools

Revenue share

93.3%

Deutsche Boerse AG

Securities Services (Clearstream: ICSD/CSD settlement + custody)

Market

Securities settlement and custody infrastructure (ICSD/CSD) for Eurobonds and domestic markets

Geography

Global (Eurobonds + multiple domestic markets)

Customer

Custodian banks, broker-dealers, central banks, institutional investors

Role

Settlement/custody infrastructure and asset servicing

Revenue share

28.2%

Side-by-side metrics

Auto Trader Group plc
Deutsche Boerse AG
Ticker / Exchange
AUTO - London Stock Exchange
DB1 - Xetra
Market cap (USD)
n/a
$39B
Gross margin (TTM)
n/a
54.3%
Operating margin (TTM)
n/a
40.7%
Net margin (TTM)
n/a
27.5%
Sector
Communication Services
Financials
Industry
n/a
Financial - Data & Stock Exchanges
HQ country
GB
DE
Primary segment
Autotrader (UK automotive marketplace & data platform)
Securities Services (Clearstream: ICSD/CSD settlement + custody)
Market structure
Quasi-Monopoly
Duopoly
Market share
75%-80% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
96 / 100
81 / 100
Moat domains
Network, Demand
Legal, Network, Demand, Financial, Supply
Last update
2026-01-10
2026-01-03

Moat coverage

Shared moat types

Two Sided NetworkData Workflow Lockin

Auto Trader Group plc strengths

Habit DefaultEcosystem Complements

Deutsche Boerse AG strengths

Regulated Standards PipeDe Facto StandardClearing SettlementBrand TrustInteroperability HubFloat PrepaymentSwitching Costs GeneralScale Economies Unit CostSuite BundlingFormat Lock In

Segment mix

Auto Trader Group plc segments

Full profile >

Autotrader (UK automotive marketplace & data platform)

Quasi-Monopoly

93.3%

Autorama (vehicle leasing marketplace)

Competitive

6.7%

Deutsche Boerse AG segments

Full profile >

Financial Derivatives (Eurex trading + Eurex Clearing)

Oligopoly

22.4%

Commodities (EEX marketplaces + clearing)

Oligopoly

10.9%

Cash Equities (Xetra + Boerse Frankfurt)

Quasi-Monopoly

5.1%

FX & Digital Assets (360T + Crypto Finance)

Competitive

2.8%

Securities Services (Clearstream: ICSD/CSD settlement + custody)

Duopoly

28.2%

Fund Services (Vestima fund processing + Fund Centre distribution)

Oligopoly

8.5%

Software Solutions (SimCorp + Axioma Analytics)

Competitive

11.9%

ESG & Index (ISS STOXX: indices + ESG/governance data)

Oligopoly

10.1%

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that work.

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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.