VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

Stock Comparison

Cboe Global Markets, Inc. vs SoFi Technologies, 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)$36.6B
Gross margin (TTM)52.2%
Operating margin (TTM)34.3%
Net margin (TTM)25.8%
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

SoFi Technologies, Inc.

SOFI · The Nasdaq Stock Market LLC

Market cap (USD)$20.9B
Gross margin (TTM)76%
Operating margin (TTM)12.6%
Net margin (TTM)11.2%
SectorFinancials
IndustryFinancial - Credit Services
CountryUS
Data as of2026-05-01
Moat score
58/ 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 SoFi Technologies, Inc.'s moat claims, evidence, and risks.

View SOFI analysis

Comparison highlights

  • Moat score gap: Cboe Global Markets, Inc. leads (76 / 100 vs 58 / 100 for SoFi Technologies, Inc.).
  • Segment focus: Cboe Global Markets, Inc. has 5 segments (60.8% in Options); SoFi Technologies, Inc. has 3 segments (49.9% in Lending).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Cboe Global Markets, Inc. has 8 moat types across 4 domains; SoFi Technologies, Inc. has 7 across 5.

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%

SoFi Technologies, Inc.

Lending

Market

U.S. unsecured personal loans, with student-loan and home-loan adjacencies

Geography

United States

Customer

Prime and super-prime consumer borrowers, home borrowers, student-loan borrowers, and loan-capital partners

Role

Digital loan originator, balance-sheet lender, loan servicer, and loan-platform origination partner

Revenue share

49.9%

Side-by-side metrics

Cboe Global Markets, Inc.
SoFi Technologies, Inc.
Ticker / Exchange
CBOE - Cboe BZX
SOFI - The Nasdaq Stock Market LLC
Market cap (USD)
$36.6B
$20.9B
Gross margin (TTM)
52.2%
76%
Operating margin (TTM)
34.3%
12.6%
Net margin (TTM)
25.8%
11.2%
Sector
Financials
Financials
Industry
Financial - Data & Stock Exchanges
Financial - Credit Services
HQ country
US
US
Primary segment
Options
Lending
Market structure
Oligopoly
Competitive
Market share
29%-32% (reported)
8%-8.6% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
76 / 100
58 / 100
Moat domains
Legal, Network, Supply, Demand
Financial, Supply, Demand, Legal, Network
Last update
2025-12-31
2026-05-01

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

SoFi Technologies, Inc. strengths

Cost Of Capital AdvantageUnderwriting Risk PoolingScope EconomiesData Workflow LockinConcession LicenseInteroperability Hub

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%

SoFi Technologies, Inc. segments

Full profile >

Lending

Competitive

49.9%

Financial Services

Competitive

40%

Technology Platform

Competitive

10.1%

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that work.

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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.