VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

The Boeing Company vs TMX Group Limited

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

The Boeing Company

BA · New York Stock Exchange

Market cap (USD)$171.7B
Gross margin (TTM)1.2%
Operating margin (TTM)-10.4%
Net margin (TTM)-12.2%
SectorIndustrials
IndustryAerospace & Defense
CountryUS
Data as of2025-12-23
Moat score
61/ 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 The Boeing Company's moat claims, evidence, and risks.

View BA analysis

TMX Group Limited

X · Toronto Stock Exchange

Market cap (USD)$14.4B
Gross margin (TTM)59.3%
Operating margin (TTM)38.7%
Net margin (TTM)23.8%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryCA
Data as of2026-01-03
Moat score
70/ 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 TMX Group Limited's moat claims, evidence, and risks.

View X analysis

Comparison highlights

  • Moat score gap: TMX Group Limited leads (70 / 100 vs 61 / 100 for The Boeing Company).
  • Segment focus: The Boeing Company has 3 segments (35.8% in Defense, Space & Security (BDS)); TMX Group Limited has 9 segments (16.1% in Trayport energy trading workflow software and network).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: The Boeing Company has 9 moat types across 3 domains; TMX Group Limited has 12 across 5.

Primary market context

The Boeing Company

Defense, Space & Security (BDS)

Market

Defense aerospace & space prime contracting (air, space, and mission systems)

Geography

Primarily U.S., with international programs

Customer

U.S. and allied governments; defense agencies

Role

Prime contractor / systems integrator

Revenue share

35.8%

TMX Group Limited

Trayport energy trading workflow software and network

Market

Wholesale energy trading workflow software and network connectivity

Geography

Europe-centric, with global customers

Customer

Energy traders, brokers, exchanges/venues

Role

Interoperability hub / workflow platform

Revenue share

16.1%

Side-by-side metrics

The Boeing Company
TMX Group Limited
Ticker / Exchange
BA - New York Stock Exchange
X - Toronto Stock Exchange
Market cap (USD)
$171.7B
$14.4B
Gross margin (TTM)
1.2%
59.3%
Operating margin (TTM)
-10.4%
38.7%
Net margin (TTM)
-12.2%
23.8%
Sector
Industrials
Financials
Industry
Aerospace & Defense
Financial - Data & Stock Exchanges
HQ country
US
CA
Primary segment
Defense, Space & Security (BDS)
Trayport energy trading workflow software and network
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
61 / 100
70 / 100
Moat domains
Legal, Supply, Demand
Legal, Network, Demand, Supply, Financial
Last update
2025-12-23
2026-01-03

Moat coverage

Shared moat types

Regulated Standards PipeCompliance AdvantageData Workflow Lockin

The Boeing Company strengths

Capex Knowhow ScaleDesign In QualificationGovernment Contracting RelationshipsLong Term ContractsService Field NetworkInstalled Base Consumables

TMX Group Limited strengths

Concession LicenseTwo Sided NetworkBrand TrustSwitching Costs GeneralScale Economies Unit CostClearing SettlementInteroperability HubDistribution ControlBenchmark Pricing Power

Segment mix

The Boeing Company segments

Full profile >

Commercial Airplanes (BCA)

Duopoly

34.3%

Defense, Space & Security (BDS)

Oligopoly

35.8%

Global Services (BGS)

Competitive

29.9%

TMX Group Limited segments

Full profile >

TSX & TSXV listing and sustaining fees

Oligopoly

10.8%

Issuer services (TSX Trust and TMX Newsfile)

Competitive

7.9%

Equities and fixed income trading venues (TSX, TSXV, TSX Alpha, Shorcan)

Oligopoly

8.8%

Post-trade clearing, settlement and depository (CDS / CDSX)

Quasi-Monopoly

8.6%

Canadian listed derivatives trading and clearing (Montreal Exchange + CDCC, excl. BOX)

Quasi-Monopoly

12.9%

U.S. equity options exchange (BOX)

Competitive

9.6%

Trayport energy trading workflow software and network

Oligopoly

16.1%

TMX Datalinx market data and co-location

Quasi-Monopoly

15.8%

TMX VettaFi indexing, ETF analytics, and digital distribution

Oligopoly

9.5%

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.