VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

CME Group Inc. vs L3Harris Technologies, Inc.

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

CME Group Inc.

CME · NASDAQ

Market cap (USD)$97.5B
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

L3Harris Technologies, Inc.

LHX · NYSE

Market cap (USD)$55.9B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryUS
Data as of2026-01-02
Moat score
72/ 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 L3Harris Technologies, Inc.'s moat claims, evidence, and risks.

View LHX analysis

Comparison highlights

  • Moat score gap: CME Group Inc. leads (81 / 100 vs 72 / 100 for L3Harris Technologies, Inc.).
  • Segment focus: CME Group Inc. has 3 segments (81.4% in Trading and Clearing (Derivatives + Cash Markets Platforms)); L3Harris Technologies, Inc. has 4 segments (31.9% in Space & Airborne Systems).
  • Moat breadth: CME Group Inc. has 10 moat types across 5 domains; L3Harris Technologies, Inc. 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%

L3Harris Technologies, Inc.

Space & Airborne Systems

Market

Defense & intelligence space and airborne mission systems (payloads, sensors, avionics, mission networks)

Geography

Global (U.S.-centric demand)

Customer

Government defense/intelligence agencies, prime contractors, and allied governments

Role

Prime contractor / subsystem integrator

Revenue share

31.9%

Side-by-side metrics

CME Group Inc.
L3Harris Technologies, Inc.
Ticker / Exchange
CME - NASDAQ
LHX - NYSE
Market cap (USD)
$97.5B
$55.9B
Gross margin (TTM)
86.1%
n/a
Operating margin (TTM)
65%
n/a
Net margin (TTM)
58.6%
n/a
Sector
Financials
Industrials
Industry
Financial - Data & Stock Exchanges
n/a
HQ country
US
US
Primary segment
Trading and Clearing (Derivatives + Cash Markets Platforms)
Space & Airborne Systems
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
72 / 100
Moat domains
Network, Legal, Supply, Financial, Demand
Legal, Demand, Supply
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

Switching Costs General

CME Group Inc. strengths

Two Sided NetworkClearing SettlementConcession LicenseScale Economies Unit CostBenchmark Pricing PowerIP Choke PointData Workflow LockinDe Facto StandardDistribution Control

L3Harris Technologies, Inc. strengths

Government Contracting RelationshipsDesign In QualificationCompliance AdvantageCapex Knowhow ScaleProcurement InertiaCapacity MoatKeystone Component

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%

L3Harris Technologies, Inc. segments

Full profile >

Space & Airborne Systems

Oligopoly

31.9%

Integrated Mission Systems

Oligopoly

31.8%

Communication Systems

Oligopoly

25.4%

Aerojet Rocketdyne

Duopoly

10.9%

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.