VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Deutsche Boerse AG vs Texas Instruments Incorporated

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

Texas Instruments Incorporated

TXN · Nasdaq Global Select Market

Market cap (USD)$161.3B
Gross margin (TTM)57.5%
Operating margin (TTM)34.3%
Net margin (TTM)29.2%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2025-12-30
Moat score
66/ 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 Texas Instruments Incorporated's moat claims, evidence, and risks.

View TXN analysis

Comparison highlights

  • Moat score gap: Deutsche Boerse AG leads (81 / 100 vs 66 / 100 for Texas Instruments Incorporated).
  • Segment focus: Deutsche Boerse AG has 8 segments (28.2% in Securities Services (Clearstream: ICSD/CSD settlement + custody)); Texas Instruments Incorporated has 3 segments (77.8% in Analog).
  • Primary market structure: Duopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Deutsche Boerse AG has 12 moat types across 5 domains; Texas Instruments Incorporated has 7 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%

Texas Instruments Incorporated

Analog

Market

Analog semiconductors (power management and signal chain ICs)

Geography

Global

Customer

Electronics OEMs/ODMs and distributors

Role

IDM semiconductor supplier

Revenue share

77.8%

Side-by-side metrics

Deutsche Boerse AG
Texas Instruments Incorporated
Ticker / Exchange
DB1 - Xetra
TXN - Nasdaq Global Select Market
Market cap (USD)
n/a
$161.3B
Gross margin (TTM)
n/a
57.5%
Operating margin (TTM)
n/a
34.3%
Net margin (TTM)
n/a
29.2%
Sector
Financials
Technology
Industry
n/a
Semiconductors
HQ country
DE
US
Primary segment
Securities Services (Clearstream: ICSD/CSD settlement + custody)
Analog
Market structure
Duopoly
Competitive
Market share
n/a
12%-16% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
66 / 100
Moat domains
Legal, Network, Demand, Financial, Supply
Supply, Demand, Legal
Last update
2026-01-03
2025-12-30

Moat coverage

Shared moat types

Scale Economies Unit Cost

Deutsche Boerse AG strengths

Regulated Standards PipeTwo Sided NetworkDe Facto StandardClearing SettlementBrand TrustInteroperability HubFloat PrepaymentSwitching Costs GeneralData Workflow LockinSuite BundlingFormat Lock In

Texas Instruments Incorporated strengths

Supply Chain ControlDistribution ControlScope EconomiesTraining Org Change CostsIP Choke PointHabit Default

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%

Texas Instruments Incorporated segments

Full profile >

Analog

Competitive

77.8%

Embedded Processing

Competitive

16.2%

Other

Competitive

6.1%

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.