VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Cboe Global Markets, Inc. vs Netflix, 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)$26.4B
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

Netflix, Inc.

NFLX · NASDAQ

Market cap (USD)$387.5B
Gross margin (TTM)48.1%
Operating margin (TTM)29.1%
Net margin (TTM)24.1%
SectorCommunication Services
IndustryEntertainment
CountryUS
Data as of2026-01-05
Moat score
65/ 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 Netflix, Inc.'s moat claims, evidence, and risks.

View NFLX analysis

Comparison highlights

  • Moat score gap: Cboe Global Markets, Inc. leads (76 / 100 vs 65 / 100 for Netflix, Inc.).
  • Segment focus: Cboe Global Markets, Inc. has 5 segments (60.8% in Options); Netflix, Inc. has 1 segment (100% in Streaming entertainment platform).
  • Moat breadth: Cboe Global Markets, Inc. has 8 moat types across 4 domains; Netflix, Inc. has 5 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%

Netflix, Inc.

Streaming entertainment platform

Market

Paid streaming video entertainment (SVOD/AVOD)

Geography

Global

Customer

Consumers (B2C); advertisers via ad-supported inventory

Role

Streaming platform operator; content producer/licensor

Revenue share

100%

Side-by-side metrics

Cboe Global Markets, Inc.
Netflix, Inc.
Ticker / Exchange
CBOE - Cboe BZX
NFLX - NASDAQ
Market cap (USD)
$26.4B
$387.5B
Gross margin (TTM)
48.2%
48.1%
Operating margin (TTM)
29.6%
29.1%
Net margin (TTM)
21.3%
24.1%
Sector
Financials
Communication Services
Industry
Financial - Data & Stock Exchanges
Entertainment
HQ country
US
US
Primary segment
Options
Streaming entertainment platform
Market structure
Oligopoly
Oligopoly
Market share
29%-32% (reported)
8.2%-8.4% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
76 / 100
65 / 100
Moat domains
Legal, Network, Supply, Demand
Network, Supply, Legal, Financial
Last update
2025-12-31
2026-01-05

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

Netflix, Inc. strengths

Data Network EffectsScale Economies Unit CostContent Rights CurrencyPhysical Network DensityFloat Prepayment

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%

Netflix, Inc. segments

Full profile >

Streaming entertainment platform

Oligopoly

100%

Want the full wide moat stocks list?

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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.