VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

CrowdStrike Holdings, Inc. vs MarketAxess Holdings Inc.

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

CrowdStrike Holdings, Inc.

CRWD · NASDAQ

Market cap (USD)$113.8B
Gross margin (TTM)74.3%
Operating margin (TTM)-7.9%
Net margin (TTM)-6.9%
SectorTechnology
IndustrySoftware - Infrastructure
CountryUS
Data as of2026-01-05
Moat score
80/ 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 CrowdStrike Holdings, Inc.'s moat claims, evidence, and risks.

View CRWD analysis

MarketAxess Holdings Inc.

MKTX · NASDAQ Global Select Market

Market cap (USD)$6.7B
Gross margin (TTM)66.2%
Operating margin (TTM)41.2%
Net margin (TTM)26.2%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2025-12-23
Moat score
74/ 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 MarketAxess Holdings Inc.'s moat claims, evidence, and risks.

View MKTX analysis

Comparison highlights

  • Moat score gap: CrowdStrike Holdings, Inc. leads (80 / 100 vs 74 / 100 for MarketAxess Holdings Inc.).
  • Segment focus: CrowdStrike Holdings, Inc. has 2 segments (95.1% in Falcon Platform Subscriptions); MarketAxess Holdings Inc. has 2 segments (87.1% in Trade Execution Solutions).
  • Moat breadth: CrowdStrike Holdings, Inc. has 5 moat types across 2 domains; MarketAxess Holdings Inc. has 6 across 3.

Primary market context

CrowdStrike Holdings, Inc.

Falcon Platform Subscriptions

Market

Cloud-native endpoint, workload and identity protection / XDR cybersecurity platforms

Geography

Global

Customer

Enterprises, SMBs, and public sector organizations (end-users via direct sales and channel partners)

Role

SaaS cybersecurity platform vendor

Revenue share

95.1%

MarketAxess Holdings Inc.

Trade Execution Solutions

Market

Electronic fixed-income trade execution platforms (credit and rates)

Geography

Global

Customer

Institutional investors, broker-dealers, and alternative liquidity providers

Role

Electronic trading venue / marketplace operator

Revenue share

87.1%

Side-by-side metrics

CrowdStrike Holdings, Inc.
MarketAxess Holdings Inc.
Ticker / Exchange
CRWD - NASDAQ
MKTX - NASDAQ Global Select Market
Market cap (USD)
$113.8B
$6.7B
Gross margin (TTM)
74.3%
66.2%
Operating margin (TTM)
-7.9%
41.2%
Net margin (TTM)
-6.9%
26.2%
Sector
Technology
Financials
Industry
Software - Infrastructure
Financial - Capital Markets
HQ country
US
US
Primary segment
Falcon Platform Subscriptions
Trade Execution Solutions
Market structure
Oligopoly
Oligopoly
Market share
17.7% (reported)
19% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
80 / 100
74 / 100
Moat domains
Network, Demand
Network, Demand, Legal
Last update
2026-01-05
2025-12-23

Moat coverage

Shared moat types

Data Network EffectsEcosystem ComplementsSwitching Costs General

CrowdStrike Holdings, Inc. strengths

Suite BundlingReputation Reviews

MarketAxess Holdings Inc. strengths

Two Sided NetworkData Workflow LockinCompliance Advantage

Segment mix

CrowdStrike Holdings, Inc. segments

Full profile >

Falcon Platform Subscriptions

Oligopoly

95.1%

Professional Services (Incident Response & Proactive Services)

Competitive

4.9%

MarketAxess Holdings Inc. segments

Full profile >

Trade Execution Solutions

Oligopoly

87.1%

Services (Data, Post-Trade and Technology)

Competitive

12.9%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.