VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Brown-Forman Corporation vs CME Group Inc.

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

Brown-Forman Corporation

BF.B · New York Stock Exchange

Market cap (USD)
SectorConsumer
CountryUS
Data as of2025-12-25
Moat score
72/ 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 Brown-Forman Corporation's moat claims, evidence, and risks.

View BF.B analysis

CME Group Inc.

CME · NASDAQ

Market cap (USD)
SectorFinancials
CountryUS
Data as of2025-12-30
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 CME Group Inc.'s moat claims, evidence, and risks.

View CME analysis

Comparison highlights

  • Moat score gap: CME Group Inc. leads (81 / 100 vs 72 / 100 for Brown-Forman Corporation).
  • Segment focus: Brown-Forman Corporation has 5 segments (71.1% in Whiskey); CME Group Inc. has 3 segments (81.4% in Trading and Clearing (Derivatives + Cash Markets Platforms)).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Brown-Forman Corporation has 4 moat types across 2 domains; CME Group Inc. has 10 across 5.

Primary market context

Brown-Forman Corporation

Whiskey

Market

Premium-and-above whiskey spirits (American whiskey and import whiskies)

Geography

Global

Customer

Consumer (off-premise and on-premise via distributors/retailers)

Role

Brand owner / distiller / marketer

Revenue share

71.1%

CME Group Inc.

Trading and Clearing (Derivatives + Cash Markets Platforms)

Market

Exchange-traded derivatives (futures and options) trading and central counterparty clearing; plus electronic cash markets matching (U.S. Treasuries/repo, spot FX) tied to CME platforms

Geography

Global (core U.S. footprint with international participation)

Customer

Institutional and professional traders; commercial hedgers; banks; broker-dealers; futures commission merchants (FCMs); asset managers; proprietary trading firms; governments and central banks

Role

Market operator (exchange/venue) + central counterparty clearing provider

Revenue share

81.4%

Side-by-side metrics

Brown-Forman Corporation
CME Group Inc.
Ticker / Exchange
BF.B - New York Stock Exchange
CME - NASDAQ
Market cap (USD)
n/a
n/a
Sector
Consumer
Financials
HQ country
US
US
Primary segment
Whiskey
Trading and Clearing (Derivatives + Cash Markets Platforms)
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
72 / 100
81 / 100
Moat domains
Demand, Supply
Network, Legal, Supply, Financial, Demand
Last update
2025-12-25
2025-12-30

Moat coverage

Shared moat types

Distribution Control

Brown-Forman Corporation strengths

Brand TrustCapacity MoatScope Economies

CME Group Inc. strengths

Two Sided NetworkClearing SettlementConcession LicenseScale Economies Unit CostBenchmark Pricing PowerIP Choke PointData Workflow LockinDe Facto StandardSwitching Costs General

Segment mix

Brown-Forman Corporation segments

Full profile >

Whiskey

Oligopoly

71.1%

Ready-to-Drink (RTD/RTP)

Competitive

12.4%

Tequila

Oligopoly

6.6%

Rest of Portfolio (Other Branded Spirits)

Competitive

7.4%

Non-branded and Bulk

Competitive

2.6%

CME Group Inc. segments

Full profile >

Trading and Clearing (Derivatives + Cash Markets Platforms)

Oligopoly

81.4%

Market Data and Information Services

Monopoly

11.6%

Access, Connectivity and Other Exchange Services

Monopoly

7%

Want the full wide moat stocks list?

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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.