VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Canadian Pacific Kansas City Limited vs Deutsche Boerse AG

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

Canadian Pacific Kansas City Limited

CP · New York Stock Exchange

Market cap (USD)$68.5B
Gross margin (TTM)56.7%
Operating margin (TTM)37%
Net margin (TTM)28.4%
SectorIndustrials
IndustryRailroads
CountryCA
Data as of2025-12-30
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 Canadian Pacific Kansas City Limited's moat claims, evidence, and risks.

View CP analysis

Deutsche Boerse AG

DB1 · Xetra

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryDE
Data as of2026-01-03
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 Deutsche Boerse AG's moat claims, evidence, and risks.

View DB1 analysis

Comparison highlights

  • Moat score gap: Deutsche Boerse AG leads (81 / 100 vs 70 / 100 for Canadian Pacific Kansas City Limited).
  • Segment focus: Canadian Pacific Kansas City Limited has 4 segments (46% in Merchandise Freight); Deutsche Boerse AG has 8 segments (28.2% in Securities Services (Clearstream: ICSD/CSD settlement + custody)).
  • Primary market structure: Oligopoly vs Duopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Canadian Pacific Kansas City Limited has 4 moat types across 2 domains; Deutsche Boerse AG has 12 across 5.

Primary market context

Canadian Pacific Kansas City Limited

Merchandise Freight

Market

North American carload rail freight (industrial and consumer commodities)

Geography

Canada, United States, Mexico

Customer

Industrial shippers and manufacturers across multiple commodity groups

Role

Rail carrier + logistics/transload provider

Revenue share

46%

Deutsche Boerse AG

Securities Services (Clearstream: ICSD/CSD settlement + custody)

Market

Securities settlement and custody infrastructure (ICSD/CSD) for Eurobonds and domestic markets

Geography

Global (Eurobonds + multiple domestic markets)

Customer

Custodian banks, broker-dealers, central banks, institutional investors

Role

Settlement/custody infrastructure and asset servicing

Revenue share

28.2%

Side-by-side metrics

Canadian Pacific Kansas City Limited
Deutsche Boerse AG
Ticker / Exchange
CP - New York Stock Exchange
DB1 - Xetra
Market cap (USD)
$68.5B
n/a
Gross margin (TTM)
56.7%
n/a
Operating margin (TTM)
37%
n/a
Net margin (TTM)
28.4%
n/a
Sector
Industrials
Financials
Industry
Railroads
n/a
HQ country
CA
DE
Primary segment
Merchandise Freight
Securities Services (Clearstream: ICSD/CSD settlement + custody)
Market structure
Oligopoly
Duopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
70 / 100
81 / 100
Moat domains
Legal, Supply
Legal, Network, Demand, Financial, Supply
Last update
2025-12-30
2026-01-03

Moat coverage

Shared moat types

No overlap yet.

Canadian Pacific Kansas City Limited strengths

Permits Rights Of WayPhysical Network DensityOperational ExcellenceDistribution Control

Deutsche Boerse AG strengths

Regulated Standards PipeTwo Sided NetworkDe Facto StandardClearing SettlementBrand TrustInteroperability HubFloat PrepaymentSwitching Costs GeneralScale Economies Unit CostData Workflow LockinSuite BundlingFormat Lock In

Segment mix

Canadian Pacific Kansas City Limited segments

Full profile >

Bulk Freight

Oligopoly

34.2%

Merchandise Freight

Oligopoly

46%

Intermodal Freight

Competitive

17.6%

Non-freight and Other

Competitive

2.2%

Deutsche Boerse AG segments

Full profile >

Financial Derivatives (Eurex trading + Eurex Clearing)

Oligopoly

22.4%

Commodities (EEX marketplaces + clearing)

Oligopoly

10.9%

Cash Equities (Xetra + Boerse Frankfurt)

Quasi-Monopoly

5.1%

FX & Digital Assets (360T + Crypto Finance)

Competitive

2.8%

Securities Services (Clearstream: ICSD/CSD settlement + custody)

Duopoly

28.2%

Fund Services (Vestima fund processing + Fund Centre distribution)

Oligopoly

8.5%

Software Solutions (SimCorp + Axioma Analytics)

Competitive

11.9%

ESG & Index (ISS STOXX: indices + ESG/governance data)

Oligopoly

10.1%

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.