VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

CoStar Group, Inc. vs Tradeweb Markets 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)$28.2B
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

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 gap: CoStar Group, Inc. leads (75 / 100 vs 70 / 100 for Tradeweb Markets Inc.).
  • Segment focus: CoStar Group, Inc. has 6 segments (39% in Multifamily (Apartments.com Network)); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: CoStar Group, Inc. has 9 moat types across 4 domains; Tradeweb Markets Inc. has 7 across 4.

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%

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

CoStar Group, Inc.
Tradeweb Markets Inc.
Ticker / Exchange
CSGP - NASDAQ
TW - Nasdaq Global Select Market
Market cap (USD)
$28.2B
$23.6B
Gross margin (TTM)
79.3%
66.7%
Operating margin (TTM)
-2.7%
40.3%
Net margin (TTM)
0.7%
31.6%
Sector
Real Estate
Financials
Industry
Real Estate - Services
Financial - Capital Markets
HQ country
US
US
Primary segment
Multifamily (Apartments.com Network)
Rates
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
75 / 100
70 / 100
Moat domains
Supply, Network, Demand, Legal
Network, Demand, Legal, Supply
Last update
2025-12-29
2026-01-06

Moat coverage

Shared moat types

Data Workflow LockinTwo Sided NetworkBrand TrustEcosystem Complements

CoStar Group, Inc. strengths

Capex Knowhow ScaleData Network EffectsDe Facto StandardIP Choke PointSuite Bundling

Tradeweb Markets Inc. strengths

Compliance AdvantageLong Term ContractsScope Economies

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%

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?

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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.