VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Monday, January 5, 2026

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Stock Comparison

Deutsche Boerse AG vs LVMH Moet Hennessy Louis Vuitton SE

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

LVMH Moet Hennessy Louis Vuitton SE

MC · Euronext Paris

Market cap (USD)$317.7B

Gross margin (TTM)67.3%

Operating margin (TTM)23.2%

Net margin (TTM)14.8%

SectorConsumer

IndustryLuxury Goods

CountryFR

Data as of2025-12-30

Moat score

80/ 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 LVMH Moet Hennessy Louis Vuitton SE's moat claims, evidence, and risks.

View MC analysis

Comparison highlights

Moat score gap: Deutsche Boerse AG leads (81 / 100 vs 80 / 100 for LVMH Moet Hennessy Louis Vuitton SE).
Segment focus: Deutsche Boerse AG has 8 segments (28.2% in Securities Services (Clearstream: ICSD/CSD settlement + custody)); LVMH Moet Hennessy Louis Vuitton SE has 5 segments (48.5% in Fashion and Leather Goods).
Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Strong.
Moat breadth: Deutsche Boerse AG has 12 moat types across 5 domains; LVMH Moet Hennessy Louis Vuitton SE has 9 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%

LVMH Moet Hennessy Louis Vuitton SE

Fashion and Leather Goods

Market

Luxury fashion and leather goods

Geography

Global

Customer

Consumers via directly operated retail; selective wholesale

Role

Brand owner / design house / manufacturer / retailer

Revenue share

48.5%

Side-by-side metrics

Deutsche Boerse AG

LVMH Moet Hennessy Louis Vuitton SE

Ticker / Exchange

DB1 - Xetra

MC - Euronext Paris

Market cap (USD)

n/a

$317.7B

Gross margin (TTM)

n/a

67.3%

Operating margin (TTM)

n/a

23.2%

Net margin (TTM)

n/a

14.8%

Sector

Financials

Consumer

Industry

n/a

Luxury Goods

HQ country

Primary segment

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

Fashion and Leather Goods

Market structure

Duopoly

Oligopoly

Market share

n/a

HHI estimate

n/a

Pricing power

Moderate

Strong

Moat score

81 / 100

80 / 100

Moat domains

Legal, Network, Demand, Financial, Supply

Supply, Demand, Network, Legal

Last update

2026-01-03

2025-12-30

Moat coverage

Shared moat types

Two Sided NetworkBrand Trust

Deutsche Boerse AG strengths

Regulated Standards PipeDe Facto StandardClearing SettlementInteroperability HubFloat PrepaymentSwitching Costs GeneralScale Economies Unit CostData Workflow LockinSuite BundlingFormat Lock In

LVMH Moet Hennessy Louis Vuitton SE strengths

Distribution ControlCapex Knowhow ScaleGeographic NaturalKeystone ComponentService Field NetworkPhysical Network DensityConcession License

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%

LVMH Moet Hennessy Louis Vuitton SE segments

Full profile >

Fashion and Leather Goods

Oligopoly

48.5%

Wines and Spirits

Oligopoly

6.9%

Perfumes and Cosmetics

Oligopoly

9.9%

Watches and Jewelry

Oligopoly

12.5%

Selective Retailing

Oligopoly

21.6%

Want the full wide moat stocks list?

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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.