VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Ecolab Inc. vs Nasdaq, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Ecolab Inc.

ECL · New York Stock Exchange

Market cap (USD)
Gross margin (TTM)44.3%
Operating margin (TTM)17.3%
Net margin (TTM)12.5%
SectorMaterials
CountryUS
Data as of2026-01-01
Moat score
63/ 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 Ecolab Inc.'s moat claims, evidence, and risks.

View ECL analysis

Nasdaq, Inc.

NDAQ · NASDAQ

Market cap (USD)
Gross margin (TTM)41.1%
Operating margin (TTM)27.2%
Net margin (TTM)19.9%
SectorFinancials
CountryUS
Data as of2025-12-31
Moat score
76/ 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 Nasdaq, Inc.'s moat claims, evidence, and risks.

View NDAQ analysis

Comparison highlights

  • Moat score gap: Nasdaq, Inc. leads (76 / 100 vs 63 / 100 for Ecolab Inc.).
  • Segment focus: Ecolab Inc. has 4 segments (49.5% in Global Industrial); Nasdaq, Inc. has 3 segments (42.4% in Capital Access Platforms).
  • Moat breadth: Ecolab Inc. has 7 moat types across 3 domains; Nasdaq, Inc. has 9 across 5.

Primary market context

Ecolab Inc.

Global Industrial

Market

Industrial water treatment & process chemistry (incl. food & beverage processing and pulp & paper process aids)

Geography

Global

Customer

B2B

Role

formulator + on-site service/optimization provider

Revenue share

49.5%

Nasdaq, Inc.

Capital Access Platforms

Market

Issuer and investor solutions: listings, index licensing, market data, and investment analytics/workflow platforms

Geography

Global (with major exposure to U.S. and Nordic/Baltic markets)

Customer

Public/private companies (issuers), asset managers, institutional investors, data subscribers

Role

Listing venue + index administrator/licensor + data/analytics provider

Revenue share

42.4%

Side-by-side metrics

Ecolab Inc.
Nasdaq, Inc.
Ticker / Exchange
ECL - New York Stock Exchange
NDAQ - NASDAQ
Market cap (USD)
n/a
n/a
Gross margin (TTM)
44.3%
41.1%
Operating margin (TTM)
17.3%
27.2%
Net margin (TTM)
12.5%
19.9%
Sector
Materials
Financials
HQ country
US
US
Primary segment
Global Industrial
Capital Access Platforms
Market structure
Oligopoly
Oligopoly
Market share
n/a
80%-84% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
76 / 100
Moat domains
Supply, Demand, Legal
Legal, Network, Supply, Demand, Financial
Last update
2026-01-01
2025-12-31

Moat coverage

Shared moat types

Data Workflow LockinCompliance AdvantageLong Term ContractsBrand Trust

Ecolab Inc. strengths

Service Field NetworkInstalled Base ConsumablesTraining Org Change Costs

Nasdaq, Inc. strengths

Concession LicenseTwo Sided NetworkPhysical Network DensityDe Facto StandardBenchmark Pricing Power

Segment mix

Ecolab Inc. segments

Full profile >

Global Industrial

Oligopoly

49.5%

Global Institutional & Specialty

Oligopoly

34.1%

Global Healthcare & Life Sciences

Oligopoly

9%

Global Pest Elimination

Oligopoly

7.4%

Nasdaq, Inc. segments

Full profile >

Market Services

Competitive

21.9%

Capital Access Platforms

Oligopoly

42.4%

Financial Technology

Competitive

35.6%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.