VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Deutsche Boerse AG vs Equifax Inc.

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

Deutsche Boerse AG

DB1 · Xetra

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryDE
Data as of2026-01-03
Moat score
81/ 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 Deutsche Boerse AG's moat claims, evidence, and risks.

View DB1 analysis

Equifax Inc.

EFX · New York Stock Exchange

Market cap (USD)$26.5B
Gross margin (TTM)56.3%
Operating margin (TTM)18.5%
Net margin (TTM)11.1%
SectorIndustrials
IndustryConsulting Services
CountryUS
Data as of2025-12-26
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 Equifax Inc.'s moat claims, evidence, and risks.

View EFX analysis

Comparison highlights

  • Moat score gap: Deutsche Boerse AG leads (81 / 100 vs 70 / 100 for Equifax Inc.).
  • Segment focus: Deutsche Boerse AG has 8 segments (28.2% in Securities Services (Clearstream: ICSD/CSD settlement + custody)); Equifax Inc. has 3 segments (42.8% in Workforce Solutions).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Deutsche Boerse AG has 12 moat types across 5 domains; Equifax Inc. has 3 across 3.

Primary market context

Deutsche Boerse AG

Securities Services (Clearstream: ICSD/CSD settlement + custody)

Market

Securities settlement and custody infrastructure (ICSD/CSD) for Eurobonds and domestic markets

Geography

Global (Eurobonds + multiple domestic markets)

Customer

Custodian banks, broker-dealers, central banks, institutional investors

Role

Settlement/custody infrastructure and asset servicing

Revenue share

28.2%

Equifax Inc.

Workforce Solutions

Market

Income & employment verification and employer HR compliance services

Geography

Primarily U.S. (with smaller international offerings)

Customer

Employers, lenders, government agencies, and credentialed verifiers

Role

Payroll-fed data & verification intermediary

Revenue share

42.8%

Side-by-side metrics

Deutsche Boerse AG
Equifax Inc.
Ticker / Exchange
DB1 - Xetra
EFX - New York Stock Exchange
Market cap (USD)
n/a
$26.5B
Gross margin (TTM)
n/a
56.3%
Operating margin (TTM)
n/a
18.5%
Net margin (TTM)
n/a
11.1%
Sector
Financials
Industrials
Industry
n/a
Consulting Services
HQ country
DE
US
Primary segment
Securities Services (Clearstream: ICSD/CSD settlement + custody)
Workforce Solutions
Market structure
Duopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
81 / 100
70 / 100
Moat domains
Legal, Network, Demand, Financial, Supply
Network, Demand, Legal
Last update
2026-01-03
2025-12-26

Moat coverage

Shared moat types

Data Workflow Lockin

Deutsche Boerse AG strengths

Regulated Standards PipeTwo Sided NetworkDe Facto StandardClearing SettlementBrand TrustInteroperability HubFloat PrepaymentSwitching Costs GeneralScale Economies Unit CostSuite BundlingFormat Lock In

Equifax Inc. strengths

Data Network EffectsCompliance Advantage

Segment mix

Deutsche Boerse AG segments

Full profile >

Financial Derivatives (Eurex trading + Eurex Clearing)

Oligopoly

22.4%

Commodities (EEX marketplaces + clearing)

Oligopoly

10.9%

Cash Equities (Xetra + Boerse Frankfurt)

Quasi-Monopoly

5.1%

FX & Digital Assets (360T + Crypto Finance)

Competitive

2.8%

Securities Services (Clearstream: ICSD/CSD settlement + custody)

Duopoly

28.2%

Fund Services (Vestima fund processing + Fund Centre distribution)

Oligopoly

8.5%

Software Solutions (SimCorp + Axioma Analytics)

Competitive

11.9%

ESG & Index (ISS STOXX: indices + ESG/governance data)

Oligopoly

10.1%

Equifax Inc. segments

Full profile >

Workforce Solutions

Oligopoly

42.8%

U.S. Information Solutions

Oligopoly

33.3%

International

Competitive

23.8%

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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.