VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Broadcom Inc. vs Cboe Global Markets, Inc.

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

Broadcom Inc.

AVGO · NASDAQ Global Select Market

Market cap (USD)
SectorTechnology
CountryUS
Data as of2025-12-30
Moat score
66/ 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 Broadcom Inc.'s moat claims, evidence, and risks.

View AVGO analysis

Cboe Global Markets, Inc.

CBOE · Cboe BZX

Market cap (USD)
SectorFinancials
CountryUS
Data as of2025-12-31
Moat score
76/ 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 Cboe Global Markets, Inc.'s moat claims, evidence, and risks.

View CBOE analysis

Comparison highlights

  • Moat score gap: Cboe Global Markets, Inc. leads (76 / 100 vs 66 / 100 for Broadcom Inc.).
  • Segment focus: Broadcom Inc. has 2 segments (57.7% in Semiconductor Solutions); Cboe Global Markets, Inc. has 5 segments (60.8% in Options).
  • Moat breadth: Broadcom Inc. has 8 moat types across 4 domains; Cboe Global Markets, Inc. has 8 across 4.

Primary market context

Broadcom Inc.

Semiconductor Solutions

Market

Fabless semiconductor solutions (data center and AI networking/custom silicon, connectivity, broadband, storage, industrial) plus semiconductor IP licensing

Geography

Global

Customer

Hyperscalers, OEMs, and contract manufacturers; sold via direct sales and distributors

Role

Fabless chip designer and IP licensor; outsources most wafer manufacturing and assembly/test

Revenue share

57.7%

Cboe Global Markets, Inc.

Options

Market

U.S. listed options exchanges (multi-listed + proprietary index options)

Geography

United States

Customer

Broker-dealers, market makers, institutional investors, retail order-flow intermediaries

Role

Exchange operator (SRO) + derivatives listing venue + market data provider

Revenue share

60.8%

Side-by-side metrics

Broadcom Inc.
Cboe Global Markets, Inc.
Ticker / Exchange
AVGO - NASDAQ Global Select Market
CBOE - Cboe BZX
Market cap (USD)
n/a
n/a
Sector
Technology
Financials
HQ country
US
US
Primary segment
Semiconductor Solutions
Options
Market structure
Oligopoly
Oligopoly
Market share
n/a
29%-32% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
66 / 100
76 / 100
Moat domains
Demand, Supply, Legal, Network
Legal, Network, Supply, Demand
Last update
2025-12-30
2025-12-31

Moat coverage

Shared moat types

IP Choke PointSwitching Costs General

Broadcom Inc. strengths

Design In QualificationKeystone ComponentSupply Chain ControlSuite BundlingLong Term ContractsEcosystem Complements

Cboe Global Markets, Inc. strengths

Contractual ExclusivityTwo Sided NetworkCapex Knowhow ScaleRegulated Standards PipeClearing SettlementDe Facto Standard

Segment mix

Broadcom Inc. segments

Full profile >

Semiconductor Solutions

Oligopoly

57.7%

Infrastructure Software

Oligopoly

42.3%

Cboe Global Markets, Inc. segments

Full profile >

Options

Oligopoly

60.8%

North American Equities

Competitive

18.5%

Europe and Asia Pacific

Oligopoly

10.6%

Futures

Quasi-Monopoly

6.3%

Global FX

Competitive

3.7%

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.