VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

CoStar Group, Inc. vs Morningstar, Inc.

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

CoStar Group, Inc.

CSGP · NASDAQ

Market cap (USD)$24.8B
Gross margin (TTM)79.3%
Operating margin (TTM)-2.7%
Net margin (TTM)0.7%
SectorReal Estate
IndustryReal Estate - Services
CountryUS
Data as of2025-12-29
Moat score
75/ 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 CoStar Group, Inc.'s moat claims, evidence, and risks.

View CSGP analysis

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryUS
Data as of2026-01-10
Moat score
67/ 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 Morningstar, Inc.'s moat claims, evidence, and risks.

View MORN analysis

Comparison highlights

  • Moat score gap: CoStar Group, Inc. leads (75 / 100 vs 67 / 100 for Morningstar, Inc.).
  • Segment focus: CoStar Group, Inc. has 6 segments (39% in Multifamily (Apartments.com Network)); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: CoStar Group, Inc. has 9 moat types across 4 domains; Morningstar, Inc. has 6 across 3.

Primary market context

CoStar Group, Inc.

Multifamily (Apartments.com Network)

Market

Online multifamily rental marketplaces and advertising

Geography

United States

Customer

Two-sided (renters + property managers/owners)

Role

Marketplace (subscription advertising + workflow tools)

Revenue share

39%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

CoStar Group, Inc.
Morningstar, Inc.
Ticker / Exchange
CSGP - NASDAQ
MORN - NASDAQ
Market cap (USD)
$24.8B
n/a
Gross margin (TTM)
79.3%
n/a
Operating margin (TTM)
-2.7%
n/a
Net margin (TTM)
0.7%
n/a
Sector
Real Estate
Financials
Industry
Real Estate - Services
n/a
HQ country
US
US
Primary segment
Multifamily (Apartments.com Network)
Morningstar Data and Analytics
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
75 / 100
67 / 100
Moat domains
Supply, Network, Demand, Legal
Demand, Network, Legal
Last update
2025-12-29
2026-01-10

Moat coverage

Shared moat types

Data Workflow LockinDe Facto StandardIP Choke PointSuite Bundling

CoStar Group, Inc. strengths

Capex Knowhow ScaleData Network EffectsTwo Sided NetworkBrand TrustEcosystem Complements

Morningstar, Inc. strengths

Regulated Standards PipeTraining Org Change Costs

Segment mix

CoStar Group, Inc. segments

Full profile >

CoStar (commercial real estate info & analytics)

Oligopoly

37.3%

Information Services (lease management software + international info)

Competitive

5%

Multifamily (Apartments.com Network)

Oligopoly

39%

LoopNet (commercial property marketing marketplace)

Oligopoly

10.3%

Residential (Homes.com + OnTheMarket)

Oligopoly

3.7%

Other Marketplaces (Ten-X, Land.com, BizBuySell, etc.)

Competitive

4.8%

Morningstar, Inc. segments

Full profile >

Morningstar Data and Analytics

Oligopoly

34.6%

PitchBook

Oligopoly

27.2%

Morningstar Credit

Oligopoly

12.8%

Morningstar Wealth

Competitive

10.9%

Morningstar Retirement

Competitive

5.6%

Morningstar Sustainalytics

Oligopoly

5.2%

Morningstar Indexes

Oligopoly

3.7%

Want the full wide moat stocks list?

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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.