VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

Stock Comparison

American Express Company vs Intercontinental Exchange, Inc.

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

American Express Company

AXP · New York Stock Exchange

Market cap (USD)$213.3B
Gross margin (TTM)83.5%
Operating margin (TTM)20.7%
Net margin (TTM)13.6%
SectorFinancials
IndustryFinancial - Credit Services
CountryUS
Data as of2026-05-27
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 American Express Company's moat claims, evidence, and risks.

View AXP analysis

Intercontinental Exchange, Inc.

ICE · New York Stock Exchange

Market cap (USD)$84.4B
Gross margin (TTM)69%
Operating margin (TTM)40.8%
Net margin (TTM)30%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2026-05-26
Moat score
91/ 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 Intercontinental Exchange, Inc.'s moat claims, evidence, and risks.

View ICE analysis

Comparison highlights

  • Moat score gap: Intercontinental Exchange, Inc. leads (91 / 100 vs 76 / 100 for American Express Company).
  • Segment focus: American Express Company has 4 segments (48% in U.S. Consumer Services); Intercontinental Exchange, Inc. has 4 segments (46.2% in Exchange transaction and clearing).
  • Moat breadth: American Express Company has 7 moat types across 3 domains; Intercontinental Exchange, Inc. has 8 across 4.

Primary market context

American Express Company

U.S. Consumer Services

Market

U.S. premium consumer credit, charge, banking, lending, travel, dining and lifestyle card services

Geography

United States

Customer

Affluent and mass-affluent U.S. consumers

Role

Issuer, lender, rewards platform, banking provider, travel/dining service provider and closed-loop network participant

Revenue share

48%

Intercontinental Exchange, Inc.

Exchange transaction and clearing

Market

Global regulated derivatives, cash equities, equity options, OTC energy trading and clearing venues

Geography

Global, with major venues and clearing houses in the U.S., U.K., EU, Canada, Asia Pacific and the Middle East

Customer

Financial institutions, asset managers, market makers, hedgers, corporates, energy firms and brokers

Role

Regulated exchange operator, execution venue and central counterparty clearing infrastructure

Revenue share

46.2%

Side-by-side metrics

American Express Company
Intercontinental Exchange, Inc.
Ticker / Exchange
AXP - New York Stock Exchange
ICE - New York Stock Exchange
Market cap (USD)
$213.3B
$84.4B
Gross margin (TTM)
83.5%
69%
Operating margin (TTM)
20.7%
40.8%
Net margin (TTM)
13.6%
30%
Sector
Financials
Financials
Industry
Financial - Credit Services
Financial - Data & Stock Exchanges
HQ country
US
US
Primary segment
U.S. Consumer Services
Exchange transaction and clearing
Market structure
Oligopoly
Oligopoly
Market share
10.5%-11% (implied)
19.8%-20.1% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
76 / 100
91 / 100
Moat domains
Demand, Network, Supply
Network, Financial, Demand, Supply
Last update
2026-05-27
2026-05-26

Moat coverage

Shared moat types

Brand TrustData Network EffectsData Workflow LockinScope EconomiesTwo Sided Network

American Express Company strengths

Habit DefaultProcurement Inertia

Intercontinental Exchange, Inc. strengths

Benchmark Pricing PowerClearing SettlementEcosystem Complements

Segment mix

American Express Company segments

Full profile >

U.S. Consumer Services

Oligopoly

48%

Commercial Services

Oligopoly

23.4%

International Card Services

Competitive

17.9%

Global Merchant and Network Services

Oligopoly

10.7%

Intercontinental Exchange, Inc. segments

Full profile >

Exchange transaction and clearing

Oligopoly

46.2%

Exchange data, connectivity and listings

Oligopoly

13.6%

Fixed Income and Data Services

Oligopoly

22.1%

Mortgage Technology

Quasi-Monopoly

18.1%

Want the full wide moat stocks list?

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Looking for expansion-stage stocks?

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.