VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Deutsche Boerse AG vs Judges Scientific plc

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

Deutsche Boerse AG

DB1 · Xetra

Market cap (USD)$40.6B
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

Judges Scientific plc

JDG · London Stock Exchange - AIM

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryGB
Data as of2026-01-06
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 Judges Scientific plc's moat claims, evidence, and risks.

View JDG analysis

Comparison highlights

  • Moat score gap: Deutsche Boerse AG leads (81 / 100 vs 63 / 100 for Judges Scientific plc).
  • Segment focus: Deutsche Boerse AG has 8 segments (28.2% in Securities Services (Clearstream: ICSD/CSD settlement + custody)); Judges Scientific plc has 2 segments (51.7% in Vacuum).
  • Primary market structure: Duopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Deutsche Boerse AG has 12 moat types across 5 domains; Judges Scientific plc has 3 across 1.

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%

Judges Scientific plc

Vacuum

Market

Vacuum and surface-science related instrumentation (e.g., UHV/vacuum components and systems, thin-film/surface engineering adjacent tools)

Geography

Global

Customer

Research labs and high-tech manufacturing

Role

Equipment manufacturer

Revenue share

51.7%

Side-by-side metrics

Deutsche Boerse AG
Judges Scientific plc
Ticker / Exchange
DB1 - Xetra
JDG - London Stock Exchange - AIM
Market cap (USD)
$40.6B
n/a
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
GB
Primary segment
Securities Services (Clearstream: ICSD/CSD settlement + custody)
Vacuum
Market structure
Duopoly
Competitive
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
Last update
2026-01-03
2026-01-06

Moat coverage

Shared moat types

Brand TrustSwitching Costs General

Deutsche Boerse AG strengths

Regulated Standards PipeTwo Sided NetworkDe Facto StandardClearing SettlementInteroperability HubFloat PrepaymentScale Economies Unit CostData Workflow LockinSuite BundlingFormat Lock In

Judges Scientific plc strengths

Buy-and-build acquisition engine

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%

Judges Scientific plc segments

Full profile >

Materials Sciences

Competitive

48.4%

Vacuum

Competitive

51.7%

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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.