VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Thursday, January 8, 2026

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Stock Comparison

Celsius Holdings, Inc. vs Tradeweb Markets Inc.

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

Celsius Holdings, Inc.

CELH · NASDAQ

Market cap (USD)$12.4B

Gross margin (TTM)51.4%

Operating margin (TTM)4.5%

Net margin (TTM)3%

SectorConsumer

IndustryBeverages - Non-Alcoholic

CountryUS

Data as of2026-01-05

Moat score

57/ 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 Celsius Holdings, Inc.'s moat claims, evidence, and risks.

View CELH analysis

Tradeweb Markets Inc.

TW · Nasdaq Global Select Market

Market cap (USD)$23.6B

Gross margin (TTM)66.7%

Operating margin (TTM)40.3%

Net margin (TTM)31.6%

SectorFinancials

IndustryFinancial - Capital Markets

CountryUS

Data as of2026-01-06

Moat score

70/ 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 Tradeweb Markets Inc.'s moat claims, evidence, and risks.

View TW analysis

Comparison highlights

Moat score gap: Tradeweb Markets Inc. leads (70 / 100 vs 57 / 100 for Celsius Holdings, Inc.).
Segment focus: Celsius Holdings, Inc. has 1 segment (100% in Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
Moat breadth: Celsius Holdings, Inc. has 3 moat types across 2 domains; Tradeweb Markets Inc. has 7 across 4.

Primary market context

Celsius Holdings, Inc.

Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)

Market

Energy drinks (functional/better-for-you positioning) and adjacent wellness products

Geography

Primarily North America; growing international presence

Customer

Consumers via retail and e-commerce channels; sold through distributor/retail channels

Role

Brand owner / product developer; uses third-party manufacturing and third-party distribution

Revenue share

100%

Tradeweb Markets Inc.

Rates

Market

Electronic dealer-to-client and all-to-all trading in rates (government bonds, mortgages/TBA MBS, interest rate swaps)

Geography

Global

Customer

Institutional, wholesale dealers, and retail via ATS

Role

Electronic marketplace / trading venue

Revenue share

52.4%

Side-by-side metrics

Celsius Holdings, Inc.

Tradeweb Markets Inc.

Ticker / Exchange

CELH - NASDAQ

TW - Nasdaq Global Select Market

Market cap (USD)

$12.4B

$23.6B

Gross margin (TTM)

51.4%

66.7%

Operating margin (TTM)

4.5%

40.3%

Net margin (TTM)

31.6%

Sector

Consumer

Financials

Industry

Beverages - Non-Alcoholic

Financial - Capital Markets

HQ country

Primary segment

Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)

Rates

Market structure

Oligopoly

Market share

16%-16.4% (reported)

n/a

HHI estimate

n/a

Pricing power

Moderate

Moat score

57 / 100

70 / 100

Moat domains

Supply, Demand

Network, Demand, Legal, Supply

Last update

2026-01-05

2026-01-06

Moat coverage

Shared moat types

Brand TrustScope Economies

Celsius Holdings, Inc. strengths

Distribution Control

Tradeweb Markets Inc. strengths

Two Sided NetworkData Workflow LockinCompliance AdvantageEcosystem ComplementsLong Term Contracts

Segment mix

Celsius Holdings, Inc. segments

Full profile >

Functional Energy Beverages (CELSIUS, Alani Nu, Rockstar)

Oligopoly

100%

Tradeweb Markets Inc. segments

Full profile >

Rates

Oligopoly

52.4%

Credit

Oligopoly

26.6%

Equities

Competitive

Money Markets

Oligopoly

6.7%

Market Data

Competitive

6.8%

Other

Competitive

1.4%

Want the full wide moat stocks list?

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Looking for expansion-stage stocks?

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.