VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

Stock Comparison

CME Group Inc. vs InterContinental Hotels Group PLC

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

CME Group Inc.

CME · NASDAQ

Market cap (USD)$94.6B
Gross margin (TTM)86.1%
Operating margin (TTM)65%
Net margin (TTM)58.6%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2025-12-30
Moat score
81/ 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 CME Group Inc.'s moat claims, evidence, and risks.

View CME analysis

InterContinental Hotels Group PLC

IHG · London Stock Exchange

Market cap (USD)$18.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorConsumer
Industry
CountryGB
Data as of2026-01-10
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 InterContinental Hotels Group PLC's moat claims, evidence, and risks.

View IHG analysis

Comparison highlights

  • Moat score gap: CME Group Inc. leads (81 / 100 vs 57 / 100 for InterContinental Hotels Group PLC).
  • Segment focus: CME Group Inc. has 3 segments (81.4% in Trading and Clearing (Derivatives + Cash Markets Platforms)); InterContinental Hotels Group PLC has 5 segments (36% in Fee business (franchise, management and ancillary fees)).
  • Moat breadth: CME Group Inc. has 10 moat types across 5 domains; InterContinental Hotels Group PLC has 8 across 3.

Primary market context

CME Group Inc.

Trading and Clearing (Derivatives + Cash Markets Platforms)

Market

Exchange-traded derivatives (futures and options) trading and central counterparty clearing; plus electronic cash markets matching (U.S. Treasuries/repo, spot FX) tied to CME platforms

Geography

Global (core U.S. footprint with international participation)

Customer

Institutional and professional traders; commercial hedgers; banks; broker-dealers; futures commission merchants (FCMs); asset managers; proprietary trading firms; governments and central banks

Role

Market operator (exchange/venue) + central counterparty clearing provider

Revenue share

81.4%

InterContinental Hotels Group PLC

Fee business (franchise, management and ancillary fees)

Market

Branded hotel franchising and management services

Geography

Global

Customer

Hotel owners and developers

Role

Franchisor and hotel manager (asset-light brand platform)

Revenue share

36%

Side-by-side metrics

CME Group Inc.
InterContinental Hotels Group PLC
Ticker / Exchange
CME - NASDAQ
IHG - London Stock Exchange
Market cap (USD)
$94.6B
$18.8B
Gross margin (TTM)
86.1%
n/a
Operating margin (TTM)
65%
n/a
Net margin (TTM)
58.6%
n/a
Sector
Financials
Consumer
Industry
Financial - Data & Stock Exchanges
n/a
HQ country
US
GB
Primary segment
Trading and Clearing (Derivatives + Cash Markets Platforms)
Fee business (franchise, management and ancillary fees)
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
57 / 100
Moat domains
Network, Legal, Supply, Financial, Demand
Demand, Supply, Network
Last update
2025-12-30
2026-01-10

Moat coverage

Shared moat types

Two Sided NetworkScale Economies Unit CostDistribution Control

CME Group Inc. strengths

Clearing SettlementConcession LicenseBenchmark Pricing PowerIP Choke PointData Workflow LockinDe Facto StandardSwitching Costs General

InterContinental Hotels Group PLC strengths

Brand TrustLong Term ContractsPass-through reimbursement revenueAsset-heavy hotel operations (limited moat)Immaterial ancillary activity

Segment mix

CME Group Inc. segments

Full profile >

Trading and Clearing (Derivatives + Cash Markets Platforms)

Oligopoly

81.4%

Market Data and Information Services

Monopoly

11.6%

Access, Connectivity and Other Exchange Services

Monopoly

7%

InterContinental Hotels Group PLC segments

Full profile >

Fee business (franchise, management and ancillary fees)

Oligopoly

36%

System Fund (marketing, reservations and loyalty assessments)

Monopoly

32.7%

Reimbursable revenues (managed hotel staff reimbursements)

Competitive

20.3%

Owned, leased and managed lease hotels

Competitive

10.5%

Insurance activities (ancillary)

Competitive

0.5%

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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.