VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Deutsche Boerse AG vs WiseTech Global Limited

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

WiseTech Global Limited

WTC · ASX

Market cap (USD)$22.8B
Gross margin (TTM)83.6%
Operating margin (TTM)37.2%
Net margin (TTM)25.6%
SectorTechnology
IndustrySoftware - Application
CountryAU
Data as of2025-12-29
Moat score
86/ 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 WiseTech Global Limited's moat claims, evidence, and risks.

View WTC analysis

Comparison highlights

  • Moat score gap: WiseTech Global Limited leads (86 / 100 vs 81 / 100 for Deutsche Boerse AG).
  • Segment focus: Deutsche Boerse AG has 8 segments (28.2% in Securities Services (Clearstream: ICSD/CSD settlement + custody)); WiseTech Global Limited has 3 segments (87.6% in CargoWise).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Deutsche Boerse AG has 12 moat types across 5 domains; WiseTech Global Limited has 6 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%

WiseTech Global Limited

CargoWise

Market

Enterprise logistics execution software for freight forwarders, customs brokers and 3PLs (CargoWise platform)

Geography

Global

Customer

Logistics service providers (freight forwarders, customs brokers, 3PLs)

Role

SaaS software platform vendor

Revenue share

87.6%

Side-by-side metrics

Deutsche Boerse AG
WiseTech Global Limited
Ticker / Exchange
DB1 - Xetra
WTC - ASX
Market cap (USD)
n/a
$22.8B
Gross margin (TTM)
n/a
83.6%
Operating margin (TTM)
n/a
37.2%
Net margin (TTM)
n/a
25.6%
Sector
Financials
Technology
Industry
n/a
Software - Application
HQ country
DE
AU
Primary segment
Securities Services (Clearstream: ICSD/CSD settlement + custody)
CargoWise
Market structure
Duopoly
Oligopoly
Market share
n/a
96% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
81 / 100
86 / 100
Moat domains
Legal, Network, Demand, Financial, Supply
Demand, Network
Last update
2026-01-03
2025-12-29

Moat coverage

Shared moat types

Two Sided NetworkData Workflow LockinSuite Bundling

Deutsche Boerse AG strengths

Regulated Standards PipeDe Facto StandardClearing SettlementBrand TrustInteroperability HubFloat PrepaymentSwitching Costs GeneralScale Economies Unit CostFormat Lock In

WiseTech Global Limited strengths

Ecosystem ComplementsLegacy installed-base tailData Network Effects

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%

WiseTech Global Limited segments

Full profile >

CargoWise

Oligopoly

87.6%

Non-CargoWise acquired platforms (legacy)

Competitive

12.4%

e2open (multi-enterprise supply chain applications & network; acquired)

Oligopoly

n/a

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.