VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Cboe Global Markets, Inc. vs FedEx Corporation

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

Cboe Global Markets, Inc.

CBOE · Cboe BZX

Market cap (USD)$27.4B
Gross margin (TTM)48.2%
Operating margin (TTM)29.6%
Net margin (TTM)21.3%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
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

FedEx Corporation

FDX · New York Stock Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryUS
Data as of2026-01-10
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 FedEx Corporation's moat claims, evidence, and risks.

View FDX analysis

Comparison highlights

  • Moat score gap: Cboe Global Markets, Inc. leads (76 / 100 vs 72 / 100 for FedEx Corporation).
  • Segment focus: Cboe Global Markets, Inc. has 5 segments (60.8% in Options); FedEx Corporation has 3 segments (85.6% in Federal Express (integrated parcel & express)).
  • Moat breadth: Cboe Global Markets, Inc. has 8 moat types across 4 domains; FedEx Corporation has 6 across 4.

Primary market context

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%

FedEx Corporation

Federal Express (integrated parcel & express)

Market

Integrated parcel and express delivery (air-ground integrator model)

Geography

Global

Customer

Business and consumer shippers

Role

Carrier / integrator

Revenue share

85.6%

Side-by-side metrics

Cboe Global Markets, Inc.
FedEx Corporation
Ticker / Exchange
CBOE - Cboe BZX
FDX - New York Stock Exchange
Market cap (USD)
$27.4B
n/a
Gross margin (TTM)
48.2%
n/a
Operating margin (TTM)
29.6%
n/a
Net margin (TTM)
21.3%
n/a
Sector
Financials
Industrials
Industry
Financial - Data & Stock Exchanges
n/a
HQ country
US
US
Primary segment
Options
Federal Express (integrated parcel & express)
Market structure
Oligopoly
Oligopoly
Market share
29%-32% (reported)
18% (reported)
HHI estimate
n/a
2,464
Pricing power
Moderate
Moderate
Moat score
76 / 100
72 / 100
Moat domains
Legal, Network, Supply, Demand
Supply, Demand, Financial, Network
Last update
2025-12-31
2026-01-10

Moat coverage

Shared moat types

No overlap yet.

Cboe Global Markets, Inc. strengths

Contractual ExclusivityTwo Sided NetworkCapex Knowhow ScaleRegulated Standards PipeSwitching Costs GeneralClearing SettlementIP Choke PointDe Facto Standard

FedEx Corporation strengths

Physical Network DensityScale Economies Unit CostBrand TrustBenchmark Pricing PowerScope EconomiesData Network Effects

Segment mix

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%

FedEx Corporation segments

Full profile >

Federal Express (integrated parcel & express)

Oligopoly

85.6%

FedEx Freight (LTL)

Oligopoly

10.1%

Corporate, other, and eliminations (Dataworks, Office, Logistics)

Competitive

4.2%

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.