VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

Stock Comparison

Blackstone Inc. vs Intercontinental Exchange, Inc.

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

Blackstone Inc.

BX · New York Stock Exchange

Market cap (USD)$142.1B
Gross margin (TTM)87.5%
Operating margin (TTM)48.8%
Net margin (TTM)20.4%
SectorFinancials
IndustryAsset Management
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

Intercontinental Exchange, Inc.

ICE · New York Stock Exchange

Market cap (USD)$84.4B
Gross margin (TTM)69%
Operating margin (TTM)40.8%
Net margin (TTM)30%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2026-05-26
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 Intercontinental Exchange, Inc.'s moat claims, evidence, and risks.

View ICE analysis

Comparison highlights

  • Moat score gap: Intercontinental Exchange, Inc. leads (91 / 100 vs 61 / 100 for Blackstone Inc.).
  • Segment focus: Blackstone Inc. has 4 segments; Intercontinental Exchange, Inc. has 4 segments (46.2% in Exchange transaction and clearing).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: n/a vs Strong.
  • Moat breadth: Blackstone Inc. has 8 moat types across 2 domains; Intercontinental Exchange, Inc. has 8 across 4.

Primary market context

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

Intercontinental Exchange, Inc.

Exchange transaction and clearing

Market

Global regulated derivatives, cash equities, equity options, OTC energy trading and clearing venues

Geography

Global, with major venues and clearing houses in the U.S., U.K., EU, Canada, Asia Pacific and the Middle East

Customer

Financial institutions, asset managers, market makers, hedgers, corporates, energy firms and brokers

Role

Regulated exchange operator, execution venue and central counterparty clearing infrastructure

Revenue share

46.2%

Side-by-side metrics

Blackstone Inc.
Intercontinental Exchange, Inc.
Ticker / Exchange
BX - New York Stock Exchange
ICE - New York Stock Exchange
Market cap (USD)
$142.1B
$84.4B
Gross margin (TTM)
87.5%
69%
Operating margin (TTM)
48.8%
40.8%
Net margin (TTM)
20.4%
30%
Sector
Financials
Financials
Industry
Asset Management
Financial - Data & Stock Exchanges
HQ country
US
US
Primary segment
Real Estate
Exchange transaction and clearing
Market structure
Oligopoly
Oligopoly
Market share
n/a
19.8%-20.1% (reported)
HHI estimate
n/a
n/a
Pricing power
n/a
Strong
Moat score
61 / 100
91 / 100
Moat domains
Supply, Demand
Network, Financial, Demand, Supply
Last update
2026-01-12
2026-05-26

Moat coverage

Shared moat types

Brand TrustScope Economies

Blackstone Inc. strengths

Scale Economies Unit CostLong Term ContractsDistribution ControlOperational ExcellencePreferential Input AccessSuite Bundling

Intercontinental Exchange, Inc. strengths

Two Sided NetworkBenchmark Pricing PowerClearing SettlementData Workflow LockinEcosystem ComplementsData Network Effects

Segment mix

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

Intercontinental Exchange, Inc. segments

Full profile >

Exchange transaction and clearing

Oligopoly

46.2%

Exchange data, connectivity and listings

Oligopoly

13.6%

Fixed Income and Data Services

Oligopoly

22.1%

Mortgage Technology

Quasi-Monopoly

18.1%

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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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.