VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

Stock Comparison

BlackRock, Inc. vs FactSet Research Systems 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)$166.3B
Gross margin (TTM)59.1%
Operating margin (TTM)29.9%
Net margin (TTM)24.3%
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

FactSet Research Systems Inc.

FDS · New York Stock Exchange

Market cap (USD)$8.5B
Gross margin (TTM)51.9%
Operating margin (TTM)31.2%
Net margin (TTM)24.5%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2026-05-27
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 FactSet Research Systems Inc.'s moat claims, evidence, and risks.

View FDS analysis

Comparison highlights

  • Moat score gap: FactSet Research Systems Inc. leads (72 / 100 vs 59 / 100 for BlackRock, Inc.).
  • Segment focus: BlackRock, Inc. has 7 segments (33% in iShares ETFs & ETPs); FactSet Research Systems Inc. has 3 segments (65.3% in Americas).
  • Moat breadth: BlackRock, Inc. has 10 moat types across 2 domains; FactSet Research Systems Inc. has 5 across 3.

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%

FactSet Research Systems Inc.

Americas

Market

Americas financial market data, analytics, workstations and enterprise data solutions

Geography

North, Central and South America

Customer

Institutional asset managers, wealth managers, bankers, asset owners, hedge funds, private equity, corporate users and market-infrastructure partners

Role

Subscription data, analytics, workstation, portfolio, enterprise data, API and identifier provider

Revenue share

65.3%

Side-by-side metrics

BlackRock, Inc.
FactSet Research Systems Inc.
Ticker / Exchange
BLK - New York Stock Exchange
FDS - New York Stock Exchange
Market cap (USD)
$166.3B
$8.5B
Gross margin (TTM)
59.1%
51.9%
Operating margin (TTM)
29.9%
31.2%
Net margin (TTM)
24.3%
24.5%
Sector
Financials
Financials
Industry
Asset Management
Financial - Data & Stock Exchanges
HQ country
US
US
Primary segment
iShares ETFs & ETPs
Americas
Market structure
Oligopoly
Oligopoly
Market share
28.3% (reported)
5.5%-6.5% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
59 / 100
72 / 100
Moat domains
Supply, Demand
Demand, Network, Supply
Last update
2025-12-31
2026-05-27

Moat coverage

Shared moat types

Operational ExcellenceProcurement InertiaData Workflow Lockin

BlackRock, Inc. strengths

Scale Economies Unit CostBrand TrustDistribution ControlSwitching Costs GeneralSuite BundlingLong Term ContractsScope Economies

FactSet Research Systems Inc. strengths

Standards RegistryInteroperability Hub

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%

FactSet Research Systems Inc. segments

Full profile >

Americas

Oligopoly

65.3%

EMEA

Oligopoly

24.5%

Asia Pacific

Oligopoly

10.2%

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.