VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

Cadence Design Systems, Inc. vs MarketAxess Holdings Inc.

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)$86.5B
SectorTechnology
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

MarketAxess Holdings Inc.

MKTX · NASDAQ Global Select Market

Market cap (USD)$6.7B
SectorFinancials
CountryUS
Data as of2025-12-23
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 MarketAxess Holdings Inc.'s moat claims, evidence, and risks.

View MKTX analysis

Comparison highlights

  • Moat score gap: Cadence Design Systems, Inc. leads (84 / 100 vs 74 / 100 for MarketAxess Holdings Inc.).
  • Segment focus: Cadence Design Systems, Inc. has 3 segments (71% in Core EDA); MarketAxess Holdings Inc. has 2 segments (87.1% in Trade Execution Solutions).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Cadence Design Systems, Inc. has 8 moat types across 3 domains; MarketAxess Holdings Inc. has 6 across 3.

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%

MarketAxess Holdings Inc.

Trade Execution Solutions

Market

Electronic fixed-income trade execution platforms (credit and rates)

Geography

Global

Customer

Institutional investors, broker-dealers, and alternative liquidity providers

Role

Electronic trading venue / marketplace operator

Revenue share

87.1%

Side-by-side metrics

Cadence Design Systems, Inc.
MarketAxess Holdings Inc.
Ticker / Exchange
CDNS - NASDAQ
MKTX - NASDAQ Global Select Market
Market cap (USD)
$86.5B
$6.7B
Sector
Technology
Financials
HQ country
US
US
Primary segment
Core EDA
Trade Execution Solutions
Market structure
Oligopoly
Oligopoly
Market share
29%-31% (estimated)
19% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
84 / 100
74 / 100
Moat domains
Demand, Legal, Supply
Network, Demand, Legal
Last update
2025-12-29
2025-12-23

Moat coverage

Shared moat types

Data Workflow Lockin

Cadence Design Systems, Inc. strengths

Suite BundlingLong Term ContractsDesign In QualificationInstalled Base ConsumablesIP Choke PointCapex Knowhow ScaleService Field Network

MarketAxess Holdings Inc. strengths

Two Sided NetworkData Network EffectsCompliance AdvantageSwitching Costs GeneralEcosystem Complements

Segment mix

Cadence Design Systems, Inc. segments

Full profile >

Core EDA

Oligopoly

71%

Semiconductor IP

Oligopoly

13%

System Design and Analysis

Competitive

16%

MarketAxess Holdings Inc. segments

Full profile >

Trade Execution Solutions

Oligopoly

87.1%

Services (Data, Post-Trade and Technology)

Competitive

12.9%

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.