VOL. XCIV, NO. 247

* MOAT STOCKS COMPARISON *

NO ADVICE

Friday, December 26, 2025

Stock Comparison

Booking Holdings Inc. vs MarketAxess Holdings Inc.

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

Booking Holdings Inc.

BKNG · NASDAQ Global Select Market

Market cap (USD)$175.6B
SectorConsumer
CountryUS
Data as of2025-12-25
Moat score
77/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

View full moat analysis >

MarketAxess Holdings Inc.

MKTX · NASDAQ Global Select Market

Market cap (USD)$6.7B
SectorFinancials
CountryUS
Data as of2025-12-23
Moat score
74/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

View full moat analysis >

Side-by-side metrics

Booking Holdings Inc.
MarketAxess Holdings Inc.
Ticker / Exchange
BKNG - NASDAQ Global Select Market
MKTX - NASDAQ Global Select Market
Market cap (USD)
$175.6B
$6.7B
Sector
Consumer
Financials
HQ country
US
US
Primary segment
OTC online travel reservations (Booking.com, Priceline, Agoda)
Trade Execution Solutions
Market structure
Oligopoly
Oligopoly
Market share
23%-31% (implied)
19% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
77 / 100
74 / 100
Moat domains
Network, Demand, Supply, Financial
Network, Demand, Legal
Last update
2025-12-25
2025-12-23

Moat coverage

Shared moat types

Two Sided Network

Booking Holdings Inc. strengths

Brand TrustHabit DefaultScope EconomiesFloat Prepayment

MarketAxess Holdings Inc. strengths

Data Workflow LockinData Network EffectsCompliance AdvantageSwitching Costs GeneralEcosystem Complements

Segment mix

Booking Holdings Inc. segments

Full profile >

OTC online travel reservations (Booking.com, Priceline, Agoda)

Oligopoly

95.5%

Metasearch & restaurant reservations (KAYAK, OpenTable)

Competitive

4.5%

MarketAxess Holdings Inc. segments

Full profile >

Trade Execution Solutions

Oligopoly

87.1%

Services (Data, Post-Trade and Technology)

Competitive

12.9%

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.