VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Thursday, January 8, 2026

Stock Comparison

Deutsche Boerse AG vs Pool Corporation

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

Pool Corporation

POOL · NASDAQ

Market cap (USD)$8.8B
Gross margin (TTM)29.6%
Operating margin (TTM)11.1%
Net margin (TTM)7.8%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-06
Moat score
56/ 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 Pool Corporation's moat claims, evidence, and risks.

View POOL analysis

Comparison highlights

  • Moat score gap: Deutsche Boerse AG leads (81 / 100 vs 56 / 100 for Pool Corporation).
  • Segment focus: Deutsche Boerse AG has 8 segments (28.2% in Securities Services (Clearstream: ICSD/CSD settlement + custody)); Pool Corporation has 1 segment (100% in Wholesale distribution (pool, irrigation, outdoor living)).
  • Primary market structure: Duopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Deutsche Boerse AG has 12 moat types across 5 domains; Pool Corporation 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%

Pool Corporation

Wholesale distribution (pool, irrigation, outdoor living)

Market

Wholesale distribution of swimming pool, irrigation/landscape, and related outdoor living products

Geography

North America (majority), with operations in Europe and Australia

Customer

Pool builders/remodelers, pool service/repair professionals, specialty pool retailers, irrigation/landscape contractors, commercial pool operators

Role

Distributor / wholesaler

Revenue share

100%

Side-by-side metrics

Deutsche Boerse AG
Pool Corporation
Ticker / Exchange
DB1 - Xetra
POOL - NASDAQ
Market cap (USD)
$40.6B
$8.8B
Gross margin (TTM)
54.3%
29.6%
Operating margin (TTM)
40.7%
11.1%
Net margin (TTM)
27.5%
7.8%
Sector
Financials
Industrials
Industry
Financial - Data & Stock Exchanges
Industrial - Distribution
HQ country
DE
US
Primary segment
Securities Services (Clearstream: ICSD/CSD settlement + custody)
Wholesale distribution (pool, irrigation, outdoor living)
Market structure
Duopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
81 / 100
56 / 100
Moat domains
Legal, Network, Demand, Financial, Supply
Supply, Demand
Last update
2026-01-03
2026-01-06

Moat coverage

Shared moat types

Scale Economies Unit CostData Workflow Lockin

Deutsche Boerse AG strengths

Regulated Standards PipeTwo Sided NetworkDe Facto StandardClearing SettlementBrand TrustInteroperability HubFloat PrepaymentSwitching Costs GeneralSuite BundlingFormat Lock In

Pool Corporation strengths

Physical Network DensityScope EconomiesProcurement Inertia

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%

Pool Corporation segments

Full profile >

Wholesale distribution (pool, irrigation, outdoor living)

Competitive

100%

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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.