VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 14, 2026

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Stock Comparison

BlackRock, Inc. vs Blackstone Inc.

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

BlackRock, Inc.

BLK · New York Stock Exchange

Market cap (USD)$168.1B

Gross margin (TTM)51.6%

Operating margin (TTM)32.6%

Net margin (TTM)26.6%

SectorFinancials

IndustryAsset Management

CountryUS

Data as of2025-12-31

Moat score

59/ 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 BlackRock, Inc.'s moat claims, evidence, and risks.

View BLK analysis

Blackstone Inc.

BX · New York Stock Exchange

Market cap (USD)—

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorFinancials

Industry—

CountryUS

Data as of2026-01-12

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 Blackstone Inc.'s moat claims, evidence, and risks.

View BX analysis

Comparison highlights

Moat score gap: Blackstone Inc. leads (61 / 100 vs 59 / 100 for BlackRock, Inc.).
Segment focus: BlackRock, Inc. has 7 segments (33% in iShares ETFs & ETPs); Blackstone Inc. has 4 segments.
Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs n/a.
Moat breadth: BlackRock, Inc. has 10 moat types across 2 domains; Blackstone Inc. has 8 across 2.

Primary market context

BlackRock, Inc.

iShares ETFs & ETPs

Market

Exchange-traded funds (ETFs) and exchange-traded products (ETPs)

Geography

Global

Customer

Institutional and retail (via intermediaries)

Role

ETF sponsor / asset manager

Revenue share

33%

Blackstone Inc.

Real Estate

Market

Private real estate investment management (opportunistic, core/core+, real estate debt, and perpetual/private-wealth real estate vehicles)

Geography

Global

Customer

Institutional investors and individual investors (via private wealth channels)

Role

Alternative asset manager / GP / investment adviser

Side-by-side metrics

BlackRock, Inc.

Blackstone Inc.

Ticker / Exchange

BLK - New York Stock Exchange

BX - New York Stock Exchange

Market cap (USD)

$168.1B

n/a

Gross margin (TTM)

51.6%

n/a

Operating margin (TTM)

32.6%

n/a

Net margin (TTM)

26.6%

n/a

Sector

Financials

Industry

Asset Management

n/a

HQ country

Primary segment

iShares ETFs & ETPs

Real Estate

Market structure

Oligopoly

Market share

28.3% (reported)

n/a

HHI estimate

n/a

Pricing power

Moderate

n/a

Moat score

59 / 100

61 / 100

Moat domains

Supply, Demand

Last update

2025-12-31

2026-01-12

Moat coverage

Shared moat types

Scale Economies Unit CostBrand TrustDistribution ControlOperational ExcellenceSuite BundlingLong Term ContractsScope Economies

BlackRock, Inc. strengths

Switching Costs GeneralProcurement InertiaData Workflow Lockin

Blackstone Inc. strengths

Preferential Input Access

Segment mix

BlackRock, Inc. segments

Full profile >

iShares ETFs & ETPs

Oligopoly

33%

Institutional Index Mandates (Non-ETF)

Oligopoly

5.7%

Active & Multi-Asset (Public Markets)

Competitive

27.5%

Alternatives & Private Markets

Oligopoly

13.5%

Cash Management (MMFs & cash solutions)

Competitive

5.1%

Aladdin & Technology Services

Oligopoly

7.9%

Distribution & Advisory Services

Competitive

7.3%

Blackstone Inc. segments

Full profile >

Real Estate

Oligopoly

n/a

Private Equity

Oligopoly

n/a

Credit & Insurance

Oligopoly

n/a

Multi-Asset Investing

Oligopoly

n/a

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.