VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Bio-Rad Laboratories, Inc. vs Cboe Global Markets, Inc.

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

Bio-Rad Laboratories, Inc.

BIO · New York Stock Exchange

Market cap (USD)
SectorHealthcare
CountryUS
Data as of2025-12-30
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 Bio-Rad Laboratories, Inc.'s moat claims, evidence, and risks.

View BIO 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 61 / 100 for Bio-Rad Laboratories, Inc.).
  • Segment focus: Bio-Rad Laboratories, Inc. has 2 segments (59.9% in Clinical Diagnostics); Cboe Global Markets, Inc. has 5 segments (60.8% in Options).
  • Moat breadth: Bio-Rad Laboratories, Inc. has 6 moat types across 3 domains; Cboe Global Markets, Inc. has 8 across 4.

Primary market context

Bio-Rad Laboratories, Inc.

Clinical Diagnostics

Market

In vitro diagnostics test systems, reagents/test kits, informatics, and clinical laboratory quality controls

Geography

Global

Customer

Hospital laboratories; diagnostic reference laboratories; transfusion laboratories; physician office laboratories

Role

IVD OEM / installed-base consumables supplier (systems + kits + controls)

Revenue share

59.9%

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

Bio-Rad Laboratories, Inc.
Cboe Global Markets, Inc.
Ticker / Exchange
BIO - New York Stock Exchange
CBOE - Cboe BZX
Market cap (USD)
n/a
n/a
Sector
Healthcare
Financials
HQ country
US
US
Primary segment
Clinical Diagnostics
Options
Market structure
Oligopoly
Oligopoly
Market share
9%-11% (implied)
29%-32% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
61 / 100
76 / 100
Moat domains
Supply, Demand, Legal
Legal, Network, Supply, Demand
Last update
2025-12-30
2025-12-31

Moat coverage

Shared moat types

Capex Knowhow ScaleSwitching Costs General

Bio-Rad Laboratories, Inc. strengths

Scope EconomiesDistribution ControlInstalled Base ConsumablesCompliance Advantage

Cboe Global Markets, Inc. strengths

Contractual ExclusivityTwo Sided NetworkRegulated Standards PipeClearing SettlementIP Choke PointDe Facto Standard

Segment mix

Bio-Rad Laboratories, Inc. segments

Full profile >

Life Science

Competitive

40.1%

Clinical Diagnostics

Oligopoly

59.9%

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.