VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

CSX Corporation vs Tradeweb Markets Inc.

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

CSX Corporation

CSX · NASDAQ

Market cap (USD)$66.9B
Gross margin (TTM)36.6%
Operating margin (TTM)30.7%
Net margin (TTM)19.2%
SectorIndustrials
IndustryRailroads
CountryUS
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 CSX Corporation's moat claims, evidence, and risks.

View CSX 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: CSX Corporation leads (74 / 100 vs 70 / 100 for Tradeweb Markets Inc.).
  • Segment focus: CSX Corporation has 5 segments (61.2% in Merchandise (Rail)); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Moat breadth: CSX Corporation has 6 moat types across 2 domains; Tradeweb Markets Inc. has 7 across 4.

Primary market context

CSX Corporation

Merchandise (Rail)

Market

Eastern U.S. rail freight transportation (merchandise carload)

Geography

Eastern United States (CSX network; interchange to other railroads)

Customer

Industrial, agricultural, automotive and consumer goods shippers; logistics providers

Role

Common-carrier freight railroad (line-haul + switching/terminal)

Revenue share

61.2%

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

CSX Corporation
Tradeweb Markets Inc.
Ticker / Exchange
CSX - NASDAQ
TW - Nasdaq Global Select Market
Market cap (USD)
$66.9B
$23.6B
Gross margin (TTM)
36.6%
66.7%
Operating margin (TTM)
30.7%
40.3%
Net margin (TTM)
19.2%
31.6%
Sector
Industrials
Financials
Industry
Railroads
Financial - Capital Markets
HQ country
US
US
Primary segment
Merchandise (Rail)
Rates
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
70 / 100
Moat domains
Supply, Legal
Network, Demand, Legal, Supply
Last update
2026-01-02
2026-01-06

Moat coverage

Shared moat types

No overlap yet.

CSX Corporation strengths

Physical Network DensityPermits Rights Of WayCapex Knowhow ScaleOperational ExcellenceGeographic NaturalScale Economies Unit Cost

Tradeweb Markets Inc. strengths

Two Sided NetworkData Workflow LockinCompliance AdvantageEcosystem ComplementsLong Term ContractsBrand TrustScope Economies

Segment mix

CSX Corporation segments

Full profile >

Merchandise (Rail)

Oligopoly

61.2%

Intermodal (Rail)

Competitive

14.1%

Coal (Rail)

Oligopoly

15.5%

Trucking (Quality Carriers)

Competitive

5.8%

Other Revenue (Rail/Ancillary)

Competitive

3.4%

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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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.