VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Cadence Design Systems, Inc. vs Euronext N.V.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Cadence Design Systems, Inc.

CDNS · NASDAQ

Market cap (USD)$84.1B
Gross margin (TTM)87.8%
Operating margin (TTM)28.5%
Net margin (TTM)20.4%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2025-12-29
Moat score
84/ 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 Cadence Design Systems, Inc.'s moat claims, evidence, and risks.

View CDNS analysis

Euronext N.V.

ENX · Euronext Paris

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryNL
Data as of2026-01-03
Moat score
74/ 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 Euronext N.V.'s moat claims, evidence, and risks.

View ENX analysis

Comparison highlights

  • Moat score gap: Cadence Design Systems, Inc. leads (84 / 100 vs 74 / 100 for Euronext N.V.).
  • Segment focus: Cadence Design Systems, Inc. has 3 segments (71% in Core EDA); Euronext N.V. has 7 segments (34.4% in Trading).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Cadence Design Systems, Inc. has 8 moat types across 3 domains; Euronext N.V. has 7 across 4.

Primary market context

Cadence Design Systems, Inc.

Core EDA

Market

Electronic design automation tools for semiconductor IC design and verification (digital, custom/analog, signoff, functional verification)

Geography

Global

Customer

Semiconductor designers (fabless and IDMs) and system companies with in-house silicon teams

Role

Tool vendor / workflow platform

Revenue share

71%

Euronext N.V.

Trading

Market

Multi-asset exchange trading venues (cash equities, derivatives, fixed income, FX, power)

Geography

Europe (with global participants)

Customer

Broker-dealers, banks, proprietary trading firms, asset managers, and other market participants

Role

Trading venue operator

Revenue share

34.4%

Side-by-side metrics

Cadence Design Systems, Inc.
Euronext N.V.
Ticker / Exchange
CDNS - NASDAQ
ENX - Euronext Paris
Market cap (USD)
$84.1B
n/a
Gross margin (TTM)
87.8%
n/a
Operating margin (TTM)
28.5%
n/a
Net margin (TTM)
20.4%
n/a
Sector
Technology
Financials
Industry
Software - Application
n/a
HQ country
US
NL
Primary segment
Core EDA
Trading
Market structure
Oligopoly
Oligopoly
Market share
29%-31% (estimated)
64.8% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
84 / 100
74 / 100
Moat domains
Demand, Legal, Supply
Legal, Network, Supply, Demand
Last update
2025-12-29
2026-01-03

Moat coverage

Shared moat types

Data Workflow LockinIP Choke Point

Cadence Design Systems, Inc. strengths

Suite BundlingLong Term ContractsDesign In QualificationInstalled Base ConsumablesCapex Knowhow ScaleService Field Network

Euronext N.V. strengths

Concession LicenseTwo Sided NetworkOperational ExcellenceFormat Lock InClearing Settlement

Segment mix

Cadence Design Systems, Inc. segments

Full profile >

Core EDA

Oligopoly

71%

Semiconductor IP

Oligopoly

13%

System Design and Analysis

Competitive

16%

Euronext N.V. segments

Full profile >

Listing

Oligopoly

14.3%

Trading

Oligopoly

34.4%

Advanced Data Services

Quasi-Monopoly

14.9%

Clearing

Oligopoly

12.4%

Custody & Settlement

Quasi-Monopoly

16.6%

Technology Solutions & Other

Competitive

6.5%

Investor Services

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.