VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Deutsche Boerse AG vs Guidewire Software, 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)$39B
Gross margin (TTM)54.3%
Operating margin (TTM)40.7%
Net margin (TTM)27.5%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
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

Guidewire Software, Inc.

GWRE · New York Stock Exchange

Market cap (USD)$15.7B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryUS
Data as of2026-01-11
Moat score
63/ 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 Guidewire Software, Inc.'s moat claims, evidence, and risks.

View GWRE analysis

Comparison highlights

  • Moat score gap: Deutsche Boerse AG leads (81 / 100 vs 63 / 100 for Guidewire Software, Inc.).
  • Segment focus: Deutsche Boerse AG has 8 segments (28.2% in Securities Services (Clearstream: ICSD/CSD settlement + custody)); Guidewire Software, Inc. has 2 segments (81.8% in Core P&C insurance platform software (InsuranceSuite, InsuranceNow, Guidewire Cloud Platform)).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Deutsche Boerse AG has 12 moat types across 5 domains; Guidewire Software, Inc. has 7 across 4.

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%

Guidewire Software, Inc.

Core P&C insurance platform software (InsuranceSuite, InsuranceNow, Guidewire Cloud Platform)

Market

Property & casualty insurance core systems platforms (policy administration, claims, billing) with cloud delivery

Geography

Global

Customer

Property & casualty insurers (global carriers to regional/local providers)

Role

Vertical enterprise application vendor / cloud platform operator

Revenue share

81.8%

Side-by-side metrics

Deutsche Boerse AG
Guidewire Software, Inc.
Ticker / Exchange
DB1 - Xetra
GWRE - New York Stock Exchange
Market cap (USD)
$39B
$15.7B
Gross margin (TTM)
54.3%
n/a
Operating margin (TTM)
40.7%
n/a
Net margin (TTM)
27.5%
n/a
Sector
Financials
Technology
Industry
Financial - Data & Stock Exchanges
n/a
HQ country
DE
US
Primary segment
Securities Services (Clearstream: ICSD/CSD settlement + custody)
Core P&C insurance platform software (InsuranceSuite, InsuranceNow, Guidewire Cloud Platform)
Market structure
Duopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
63 / 100
Moat domains
Legal, Network, Demand, Financial, Supply
Demand, Network, Legal, Supply
Last update
2026-01-03
2026-01-11

Moat coverage

Shared moat types

Switching Costs GeneralSuite Bundling

Deutsche Boerse AG strengths

Regulated Standards PipeTwo Sided NetworkDe Facto StandardClearing SettlementBrand TrustInteroperability HubFloat PrepaymentScale Economies Unit CostData Workflow LockinFormat Lock In

Guidewire Software, Inc. strengths

Long Term ContractsEcosystem ComplementsCompliance AdvantageCapex Knowhow ScaleDesign In Qualification

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%

Guidewire Software, Inc. segments

Full profile >

Core P&C insurance platform software (InsuranceSuite, InsuranceNow, Guidewire Cloud Platform)

Oligopoly

81.8%

Professional services (implementation, cloud migration, integration)

Competitive

18.2%

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.