VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Broadridge Financial Solutions, Inc. vs Cboe Global Markets, Inc.

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

Broadridge Financial Solutions, Inc.

BR · New York Stock Exchange

Market cap (USD)
SectorTechnology
CountryUS
Data as of2025-12-26
Moat score
91/ 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 Broadridge Financial Solutions, Inc.'s moat claims, evidence, and risks.

View BR 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: Broadridge Financial Solutions, Inc. leads (91 / 100 vs 76 / 100 for Cboe Global Markets, Inc.).
  • Segment focus: Broadridge Financial Solutions, Inc. has 2 segments (74.2% in Investor Communication Solutions); Cboe Global Markets, Inc. has 5 segments (60.8% in Options).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Broadridge Financial Solutions, Inc. has 5 moat types across 4 domains; Cboe Global Markets, Inc. has 8 across 4.

Primary market context

Broadridge Financial Solutions, Inc.

Investor Communication Solutions

Market

Proxy distribution, vote processing, and regulatory investor communications

Geography

Primarily United States (with select international services)

Customer

Public companies, mutual funds, banks and broker-dealers, asset managers

Role

Outsourced intermediary for shareholder communications and proxy voting workflows

Revenue share

74.2%

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

Broadridge Financial Solutions, Inc.
Cboe Global Markets, Inc.
Ticker / Exchange
BR - New York Stock Exchange
CBOE - Cboe BZX
Market cap (USD)
n/a
n/a
Sector
Technology
Financials
HQ country
US
US
Primary segment
Investor Communication Solutions
Options
Market structure
Quasi-Monopoly
Oligopoly
Market share
85%-95% (estimated)
29%-32% (reported)
HHI estimate
8,200
n/a
Pricing power
Moderate
Moderate
Moat score
91 / 100
76 / 100
Moat domains
Legal, Supply, Network, Demand
Legal, Network, Supply, Demand
Last update
2025-12-26
2025-12-31

Moat coverage

Shared moat types

Regulated Standards PipeTwo Sided NetworkSwitching Costs General

Broadridge Financial Solutions, Inc. strengths

Scale Economies Unit CostInteroperability Hub

Cboe Global Markets, Inc. strengths

Contractual ExclusivityCapex Knowhow ScaleClearing SettlementIP Choke PointDe Facto Standard

Segment mix

Broadridge Financial Solutions, Inc. segments

Full profile >

Investor Communication Solutions

Quasi-Monopoly

74.2%

Global Technology and Operations

Oligopoly

25.8%

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.