VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Deutsche Boerse AG vs Melrose Industries 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)
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

Melrose Industries PLC

MRO · London Stock Exchange

Market cap (USD)$7.7B
Gross margin (TTM)21.4%
Operating margin (TTM)7.6%
Net margin (TTM)4%
SectorIndustrials
IndustryIndustrial - Machinery
CountryGB
Data as of2025-12-28
Moat score
77/ 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 Melrose Industries PLC's moat claims, evidence, and risks.

View MRO analysis

Comparison highlights

  • Moat score gap: Deutsche Boerse AG leads (81 / 100 vs 77 / 100 for Melrose Industries PLC).
  • Segment focus: Deutsche Boerse AG has 8 segments (28.2% in Securities Services (Clearstream: ICSD/CSD settlement + custody)); Melrose Industries PLC has 2 segments (57.9% in Structures).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Deutsche Boerse AG has 12 moat types across 5 domains; Melrose Industries PLC has 5 across 2.

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%

Melrose Industries PLC

Structures

Market

Aerostructures and aircraft electrical wiring systems (EWIS)

Geography

Global

Customer

Airframe OEMs; defence primes

Role

Tier-1 aerospace supplier

Revenue share

57.9%

Side-by-side metrics

Deutsche Boerse AG
Melrose Industries PLC
Ticker / Exchange
DB1 - Xetra
MRO - London Stock Exchange
Market cap (USD)
n/a
$7.7B
Gross margin (TTM)
n/a
21.4%
Operating margin (TTM)
n/a
7.6%
Net margin (TTM)
n/a
4%
Sector
Financials
Industrials
Industry
n/a
Industrial - Machinery
HQ country
DE
GB
Primary segment
Securities Services (Clearstream: ICSD/CSD settlement + custody)
Structures
Market structure
Duopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
77 / 100
Moat domains
Legal, Network, Demand, Financial, Supply
Demand, Supply
Last update
2026-01-03
2025-12-28

Moat coverage

Shared moat types

No overlap yet.

Deutsche Boerse AG strengths

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

Melrose Industries PLC strengths

Long Term ContractsDesign In QualificationCapex Knowhow ScaleService Field NetworkCapacity Moat

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%

Melrose Industries PLC segments

Full profile >

Engines

Oligopoly

42.1%

Structures

Oligopoly

57.9%

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.