VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

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Stock Comparison

Constellation Software Inc. vs Mastercard Incorporated

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

Constellation Software Inc.

CSU · Toronto Stock Exchange

Market cap (USD)—

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorTechnology

Industry—

CountryCA

Data as of2026-01-02

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 Constellation Software Inc.'s moat claims, evidence, and risks.

View CSU analysis

Mastercard Incorporated

MA · New York Stock Exchange

Market cap (USD)$507.2B

Gross margin (TTM)77.5%

Operating margin (TTM)57%

Net margin (TTM)45.3%

SectorFinancials

IndustryFinancial - Credit Services

CountryUS

Data as of2025-12-21

Moat score

77/ 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 Mastercard Incorporated's moat claims, evidence, and risks.

View MA analysis

Comparison highlights

Moat score gap: Mastercard Incorporated leads (77 / 100 vs 74 / 100 for Constellation Software Inc.).
Segment focus: Constellation Software Inc. has 6 segments; Mastercard Incorporated has 2 segments (61.5% in Payment Network).
Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
Moat breadth: Constellation Software Inc. has 3 moat types across 2 domains; Mastercard Incorporated has 6 across 3.

Primary market context

Constellation Software Inc.

Volaris Operating Group

Market

Vertical market software (VMS) portfolios across diverse industries (Volaris)

Geography

Global (North America, Continental Europe, UK, Australia, South America, Africa)

Customer

Organizations in specific verticals (mix of public and private sector)

Role

Vertical market software vendor (application provider + long-term maintainer)

Mastercard Incorporated

Payment Network

Market

Four-party card payment network (switching, acceptance, and network-related services)

Geography

Global

Customer

Issuers, acquirers, merchants, account holders

Role

Network operator (authorization, clearing, settlement) and rules/standards steward

Revenue share

61.5%

Side-by-side metrics

Constellation Software Inc.

Mastercard Incorporated

Ticker / Exchange

CSU - Toronto Stock Exchange

MA - New York Stock Exchange

Market cap (USD)

n/a

$507.2B

Gross margin (TTM)

n/a

77.5%

Operating margin (TTM)

n/a

57%

Net margin (TTM)

n/a

45.3%

Sector

Technology

Financials

Industry

n/a

Financial - Credit Services

HQ country

Primary segment

Volaris Operating Group

Payment Network

Market structure

Competitive

Oligopoly

Market share

n/a

29.7% (reported)

HHI estimate

n/a

Pricing power

Moderate

Moat score

74 / 100

77 / 100

Moat domains

Demand, Supply

Network, Demand, Legal

Last update

2026-01-02

2025-12-21

Moat coverage

Shared moat types

No overlap yet.

Constellation Software Inc. strengths

Switching Costs GeneralInstalled Base ConsumablesOperational Excellence

Mastercard Incorporated strengths

Two Sided NetworkClearing SettlementBrand TrustRegulated Standards PipeData Network EffectsData Workflow Lockin

Segment mix

Constellation Software Inc. segments

Full profile >

Volaris Operating Group

Competitive

n/a

Harris Operating Group

Competitive

n/a

Topicus.com Operating Group

Competitive

n/a

Jonas Operating Group

Competitive

n/a

Perseus Operating Group

Competitive

n/a

Vela Operating Group

Competitive

n/a

Mastercard Incorporated segments

Full profile >

Payment Network

Oligopoly

61.5%

Value-Added Services and Solutions

Competitive

38.5%

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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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.