VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Cboe Global Markets, Inc. vs Mettler-Toledo 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)
Gross margin (TTM)48.2%
Operating margin (TTM)29.6%
Net margin (TTM)21.3%
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

Mettler-Toledo International Inc.

MTD · New York Stock Exchange

Market cap (USD)
Gross margin (TTM)58.4%
Operating margin (TTM)28.6%
Net margin (TTM)21.2%
SectorHealthcare
CountryUS
Data as of2026-01-01
Moat score
73/ 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 Mettler-Toledo International Inc.'s moat claims, evidence, and risks.

View MTD analysis

Comparison highlights

  • Moat score gap: Cboe Global Markets, Inc. leads (76 / 100 vs 73 / 100 for Mettler-Toledo International Inc.).
  • Segment focus: Cboe Global Markets, Inc. has 5 segments (60.8% in Options); Mettler-Toledo International Inc. has 3 segments (56% in Laboratory Products and Services).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Cboe Global Markets, Inc. has 8 moat types across 4 domains; Mettler-Toledo International Inc. has 5 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%

Mettler-Toledo International Inc.

Laboratory Products and Services

Market

Laboratory precision weighing (balances/scales) and adjacent lab measurement & sample-prep instruments, plus related software and services

Geography

Global

Customer

Life science, chemical, academic, and testing laboratories (end-users) via direct sales and distributors

Role

Instrument OEM / software provider / service provider

Revenue share

56%

Side-by-side metrics

Cboe Global Markets, Inc.
Mettler-Toledo International Inc.
Ticker / Exchange
CBOE - Cboe BZX
MTD - New York Stock Exchange
Market cap (USD)
n/a
n/a
Gross margin (TTM)
48.2%
58.4%
Operating margin (TTM)
29.6%
28.6%
Net margin (TTM)
21.3%
21.2%
Sector
Financials
Healthcare
HQ country
US
US
Primary segment
Options
Laboratory Products and Services
Market structure
Oligopoly
Oligopoly
Market share
29%-32% (reported)
25%-30% (estimated)
HHI estimate
n/a
2,440
Pricing power
Moderate
Strong
Moat score
76 / 100
73 / 100
Moat domains
Legal, Network, Supply, Demand
Demand, Supply, Legal
Last update
2025-12-31
2026-01-01

Moat coverage

Shared moat types

Switching Costs General

Cboe Global Markets, Inc. strengths

Contractual ExclusivityTwo Sided NetworkCapex Knowhow ScaleRegulated Standards PipeClearing SettlementIP Choke PointDe Facto Standard

Mettler-Toledo International Inc. strengths

Brand TrustData Workflow LockinService Field NetworkCompliance Advantage

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%

Mettler-Toledo International Inc. segments

Full profile >

Laboratory Products and Services

Oligopoly

56%

Industrial Products and Services

Competitive

39%

Food Retailing Products and Services

Competitive

5%

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.