VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Cboe Global Markets, Inc. vs Old Dominion Freight Line, 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)$26.1B
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

Old Dominion Freight Line, Inc.

ODFL · The Nasdaq Stock Market LLC

Market cap (USD)$33.4B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
IndustryTrucking
CountryUS
Data as of2026-01-02
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 Old Dominion Freight Line, Inc.'s moat claims, evidence, and risks.

View ODFL analysis

Comparison highlights

  • Moat score: both at 76 / 100.
  • Segment focus: Cboe Global Markets, Inc. has 5 segments (60.8% in Options); Old Dominion Freight Line, Inc. has 2 segments (99.1% in LTL Services).
  • Moat breadth: Cboe Global Markets, Inc. has 8 moat types across 4 domains; Old Dominion Freight Line, Inc. has 7 across 2.

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%

Old Dominion Freight Line, Inc.

LTL Services

Market

North American less-than-truckload (LTL) freight transportation

Geography

North America (primarily United States)

Customer

B2B shippers

Role

Asset-based LTL carrier (terminal network + pickup & delivery + linehaul)

Revenue share

99.1%

Side-by-side metrics

Cboe Global Markets, Inc.
Old Dominion Freight Line, Inc.
Ticker / Exchange
CBOE - Cboe BZX
ODFL - The Nasdaq Stock Market LLC
Market cap (USD)
$26.1B
$33.4B
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
Trucking
HQ country
US
US
Primary segment
Options
LTL Services
Market structure
Oligopoly
Oligopoly
Market share
29%-32% (reported)
11%-14% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
76 / 100
76 / 100
Moat domains
Legal, Network, Supply, Demand
Supply, Demand
Last update
2025-12-31
2026-01-02

Moat coverage

Shared moat types

Capex Knowhow ScaleSwitching Costs General

Cboe Global Markets, Inc. strengths

Contractual ExclusivityTwo Sided NetworkRegulated Standards PipeClearing SettlementIP Choke PointDe Facto Standard

Old Dominion Freight Line, Inc. strengths

Physical Network DensityOperational ExcellenceReputation ReviewsSuite BundlingProcurement Inertia

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%

Old Dominion Freight Line, Inc. segments

Full profile >

LTL Services

Oligopoly

99.1%

Other Services (Value-added logistics)

Competitive

0.9%

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.