VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Deutsche Boerse AG vs Sika AG

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

Sika AG

SIKA · SIX Swiss Exchange

Market cap (USD)$33B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorMaterials
Industry
CountryCH
Data as of2026-01-11
Moat score
69/ 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 Sika AG's moat claims, evidence, and risks.

View SIKA analysis

Comparison highlights

  • Moat score gap: Deutsche Boerse AG leads (81 / 100 vs 69 / 100 for Sika AG).
  • Segment focus: Deutsche Boerse AG has 8 segments (28.2% in Securities Services (Clearstream: ICSD/CSD settlement + custody)); Sika AG has 2 segments (85.5% in Construction).
  • Primary market structure: Duopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Deutsche Boerse AG has 12 moat types across 5 domains; Sika AG has 6 across 3.

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%

Sika AG

Construction

Market

Construction chemicals and building finishing systems (concrete admixtures, waterproofing, roofing, flooring, repair, sealants/adhesives)

Geography

Global

Customer

B2B: contractors, installers, distributors/building-material channels, ready-mix and concrete producers, asset owners

Role

Specialty chemicals manufacturer + system provider (specification + application support)

Revenue share

85.5%

Side-by-side metrics

Deutsche Boerse AG
Sika AG
Ticker / Exchange
DB1 - Xetra
SIKA - SIX Swiss Exchange
Market cap (USD)
$39B
$33B
Gross margin (TTM)
54.3%
n/a
Operating margin (TTM)
40.7%
n/a
Net margin (TTM)
27.5%
n/a
Sector
Financials
Materials
Industry
Financial - Data & Stock Exchanges
n/a
HQ country
DE
CH
Primary segment
Securities Services (Clearstream: ICSD/CSD settlement + custody)
Construction
Market structure
Duopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
69 / 100
Moat domains
Legal, Network, Demand, Financial, Supply
Supply, Demand, Legal
Last update
2026-01-03
2026-01-11

Moat coverage

Shared moat types

Brand Trust

Deutsche Boerse AG strengths

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

Sika AG strengths

Physical Network DensityService Field NetworkCompliance 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%

Sika AG segments

Full profile >

Construction

Competitive

85.5%

Automotive & Industry

Oligopoly

14.5%

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.