VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Cboe Global Markets, Inc. vs Mondelez International, Inc.

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)
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

Mondelez International, Inc.

MDLZ · Nasdaq Global Select Market

Market cap (USD)$70.1B
SectorConsumer
CountryUS
Data as of2025-12-23
Moat score
66/ 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 Mondelez International, Inc.'s moat claims, evidence, and risks.

View MDLZ analysis

Comparison highlights

  • Moat score gap: Cboe Global Markets, Inc. leads (76 / 100 vs 66 / 100 for Mondelez International, Inc.).
  • Segment focus: Cboe Global Markets, Inc. has 5 segments (60.8% in Options); Mondelez International, Inc. has 5 segments (48.9% in Biscuits & Baked Snacks).
  • Moat breadth: Cboe Global Markets, Inc. has 8 moat types across 4 domains; Mondelez International, Inc. has 4 across 3.

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%

Mondelez International, Inc.

Biscuits & Baked Snacks

Market

Branded biscuits, cookies, crackers and baked snacks

Geography

Global

Customer

Consumer (via retail and e-commerce)

Role

Branded manufacturer

Revenue share

48.9%

Side-by-side metrics

Cboe Global Markets, Inc.
Mondelez International, Inc.
Ticker / Exchange
CBOE - Cboe BZX
MDLZ - Nasdaq Global Select Market
Market cap (USD)
n/a
$70.1B
Sector
Financials
Consumer
HQ country
US
US
Primary segment
Options
Biscuits & Baked Snacks
Market structure
Oligopoly
Oligopoly
Market share
29%-32% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
76 / 100
66 / 100
Moat domains
Legal, Network, Supply, Demand
Demand, Supply, Legal
Last update
2025-12-31
2025-12-23

Moat coverage

Shared moat types

IP Choke Point

Cboe Global Markets, Inc. strengths

Contractual ExclusivityTwo Sided NetworkCapex Knowhow ScaleRegulated Standards PipeSwitching Costs GeneralClearing SettlementDe Facto Standard

Mondelez International, Inc. strengths

Brand TrustDistribution ControlSupply Chain Control

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%

Mondelez International, Inc. segments

Full profile >

Biscuits & Baked Snacks

Oligopoly

48.9%

Chocolate

Oligopoly

30.9%

Gum & Candy

Oligopoly

11.1%

Beverages

Competitive

3%

Cheese & Grocery

Competitive

6.2%

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.