VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

CDW Corporation vs LPL Financial Holdings Inc.

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

CDW Corporation

CDW · NASDAQ

Market cap (USD)$17.4B
Gross margin (TTM)21.6%
Operating margin (TTM)7.4%
Net margin (TTM)4.8%
SectorTechnology
IndustryInformation Technology Services
CountryUS
Data as of2026-01-06
Moat score
52/ 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 CDW Corporation's moat claims, evidence, and risks.

View CDW analysis

LPL Financial Holdings Inc.

LPLA · Nasdaq

Market cap (USD)$29.6B
Gross margin (TTM)24.1%
Operating margin (TTM)9.5%
Net margin (TTM)5.4%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2025-12-26
Moat score
79/ 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 LPL Financial Holdings Inc.'s moat claims, evidence, and risks.

View LPLA analysis

Comparison highlights

  • Moat score gap: LPL Financial Holdings Inc. leads (79 / 100 vs 52 / 100 for CDW Corporation).
  • Segment focus: CDW Corporation has 4 segments (42.1% in Corporate); LPL Financial Holdings Inc. has 1 segment (100% in Advisor Platform).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: CDW Corporation has 6 moat types across 3 domains; LPL Financial Holdings Inc. has 6 across 4.

Primary market context

CDW Corporation

Corporate

Market

IT solutions provider / value-added reseller (VAR) + services for U.S. private-sector businesses (250+ employees)

Geography

United States

Customer

Private-sector enterprises (mid-market and large)

Role

Value-added reseller / systems integrator

Revenue share

42.1%

LPL Financial Holdings Inc.

Advisor Platform

Market

Advisor-mediated wealth management platform (independent broker-dealer + RIA custody/clearing)

Geography

United States

Customer

Financial advisors and financial institutions

Role

Platform / broker-dealer / custodian

Revenue share

100%

Side-by-side metrics

CDW Corporation
LPL Financial Holdings Inc.
Ticker / Exchange
CDW - NASDAQ
LPLA - Nasdaq
Market cap (USD)
$17.4B
$29.6B
Gross margin (TTM)
21.6%
24.1%
Operating margin (TTM)
7.4%
9.5%
Net margin (TTM)
4.8%
5.4%
Sector
Technology
Financials
Industry
Information Technology Services
Financial - Capital Markets
HQ country
US
US
Primary segment
Corporate
Advisor Platform
Market structure
Competitive
Oligopoly
Market share
n/a
23%-25% (reported)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
52 / 100
79 / 100
Moat domains
Supply, Demand, Legal
Supply, Demand, Legal, Network
Last update
2026-01-06
2025-12-26

Moat coverage

Shared moat types

Operational Excellence

CDW Corporation strengths

Service Field NetworkScope EconomiesPreferential Input AccessProcurement InertiaGovernment Contracting Relationships

LPL Financial Holdings Inc. strengths

Scale Economies Unit CostSuite BundlingCompliance AdvantageTwo Sided NetworkSwitching Costs General

Segment mix

CDW Corporation segments

Full profile >

Corporate

Competitive

42.1%

Small Business

Competitive

7.3%

Public

Competitive

38.8%

Other (UK & Canada)

Competitive

11.8%

LPL Financial Holdings Inc. segments

Full profile >

Advisor Platform

Oligopoly

100%

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.