VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 14, 2026

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Stock Comparison

Blackstone Inc. vs Tradeweb Markets 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)—
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

Tradeweb Markets Inc.

TW · Nasdaq Global Select Market

Market cap (USD)$22.2B
Gross margin (TTM)66.7%
Operating margin (TTM)40.3%
Net margin (TTM)31.6%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2026-01-06
Moat score
70/ 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 Tradeweb Markets Inc.'s moat claims, evidence, and risks.

View TW analysis

Comparison highlights

  • Moat score gap: Tradeweb Markets Inc. leads (70 / 100 vs 61 / 100 for Blackstone Inc.).
  • Segment focus: Blackstone Inc. has 4 segments; Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: n/a vs Moderate.
  • Moat breadth: Blackstone Inc. has 8 moat types across 2 domains; Tradeweb Markets Inc. has 7 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

Tradeweb Markets Inc.

Rates

Market

Electronic dealer-to-client and all-to-all trading in rates (government bonds, mortgages/TBA MBS, interest rate swaps)

Geography

Global

Customer

Institutional, wholesale dealers, and retail via ATS

Role

Electronic marketplace / trading venue

Revenue share

52.4%

Side-by-side metrics

Blackstone Inc.
Tradeweb Markets Inc.
Ticker / Exchange
BX - New York Stock Exchange
TW - Nasdaq Global Select Market
Market cap (USD)
n/a
$22.2B
Gross margin (TTM)
n/a
66.7%
Operating margin (TTM)
n/a
40.3%
Net margin (TTM)
n/a
31.6%
Sector
Financials
Financials
Industry
n/a
Financial - Capital Markets
HQ country
US
US
Primary segment
Real Estate
Rates
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
n/a
Moderate
Moat score
61 / 100
70 / 100
Moat domains
Supply, Demand
Network, Demand, Legal, Supply
Last update
2026-01-12
2026-01-06

Moat coverage

Shared moat types

Long Term ContractsBrand TrustScope Economies

Blackstone Inc. strengths

Scale Economies Unit CostDistribution ControlOperational ExcellencePreferential Input AccessSuite Bundling

Tradeweb Markets Inc. strengths

Two Sided NetworkData Workflow LockinCompliance AdvantageEcosystem Complements

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

Tradeweb Markets Inc. segments

Full profile >

Rates

Oligopoly

52.4%

Credit

Oligopoly

26.6%

Equities

Competitive

6%

Money Markets

Oligopoly

6.7%

Market Data

Competitive

6.8%

Other

Competitive

1.4%

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.