VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Canadian Pacific Kansas City Limited vs Tradeweb Markets Inc.

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)$67.3B
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

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: both at 70 / 100.
  • Segment focus: Canadian Pacific Kansas City Limited has 4 segments (46% in Merchandise Freight); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Moat breadth: Canadian Pacific Kansas City Limited has 4 moat types across 2 domains; Tradeweb Markets Inc. has 7 across 4.

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%

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

Canadian Pacific Kansas City Limited
Tradeweb Markets Inc.
Ticker / Exchange
CP - New York Stock Exchange
TW - Nasdaq Global Select Market
Market cap (USD)
$67.3B
$23.6B
Gross margin (TTM)
56.7%
66.7%
Operating margin (TTM)
37%
40.3%
Net margin (TTM)
28.4%
31.6%
Sector
Industrials
Financials
Industry
Railroads
Financial - Capital Markets
HQ country
CA
US
Primary segment
Merchandise Freight
Rates
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
70 / 100
70 / 100
Moat domains
Legal, Supply
Network, Demand, Legal, Supply
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

No overlap yet.

Canadian Pacific Kansas City Limited strengths

Permits Rights Of WayPhysical Network DensityOperational ExcellenceDistribution Control

Tradeweb Markets Inc. strengths

Two Sided NetworkData Workflow LockinCompliance AdvantageEcosystem ComplementsLong Term ContractsBrand TrustScope Economies

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%

Tradeweb Markets Inc. segments

Full profile >

Rates

Oligopoly

52.4%

Credit

Oligopoly

26.6%

Equities

Competitive

6%

Money Markets

Oligopoly

6.7%

Market Data

Competitive

6.8%

Other

Competitive

1.4%

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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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.