VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Edenred SE vs Euronext N.V.

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

Edenred SE

EDEN · Euronext Paris

Market cap (USD)$4.5B
Gross margin (TTM)47%
Operating margin (TTM)31.7%
Net margin (TTM)15.6%
SectorFinancials
IndustryFinancial - Credit Services
CountryFR
Data as of2025-12-28
Moat score
67/ 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 Edenred SE's moat claims, evidence, and risks.

View EDEN analysis

Euronext N.V.

ENX · Euronext Paris

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryNL
Data as of2026-01-03
Moat score
74/ 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 Euronext N.V.'s moat claims, evidence, and risks.

View ENX analysis

Comparison highlights

  • Moat score gap: Euronext N.V. leads (74 / 100 vs 67 / 100 for Edenred SE).
  • Segment focus: Edenred SE has 3 segments (65.2% in Benefits & Engagement); Euronext N.V. has 7 segments (34.4% in Trading).
  • Moat breadth: Edenred SE has 7 moat types across 5 domains; Euronext N.V. has 7 across 4.

Primary market context

Edenred SE

Benefits & Engagement

Market

Employee benefits and engagement solutions (meal vouchers, gift/incentives, engagement platforms)

Geography

Global

Customer

Employers / HR departments

Role

Issuer + payment network orchestrator (specific-purpose payments)

Revenue share

65.2%

Euronext N.V.

Trading

Market

Multi-asset exchange trading venues (cash equities, derivatives, fixed income, FX, power)

Geography

Europe (with global participants)

Customer

Broker-dealers, banks, proprietary trading firms, asset managers, and other market participants

Role

Trading venue operator

Revenue share

34.4%

Side-by-side metrics

Edenred SE
Euronext N.V.
Ticker / Exchange
EDEN - Euronext Paris
ENX - Euronext Paris
Market cap (USD)
$4.5B
n/a
Gross margin (TTM)
47%
n/a
Operating margin (TTM)
31.7%
n/a
Net margin (TTM)
15.6%
n/a
Sector
Financials
Financials
Industry
Financial - Credit Services
n/a
HQ country
FR
NL
Primary segment
Benefits & Engagement
Trading
Market structure
Oligopoly
Oligopoly
Market share
n/a
64.8% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
67 / 100
74 / 100
Moat domains
Legal, Network, Financial, Demand, Supply
Legal, Network, Supply, Demand
Last update
2025-12-28
2026-01-03

Moat coverage

Shared moat types

Two Sided Network

Edenred SE strengths

Regulated Standards PipeFloat PrepaymentBrand TrustSwitching Costs GeneralCapex Knowhow ScaleSuite Bundling

Euronext N.V. strengths

Concession LicenseOperational ExcellenceIP Choke PointFormat Lock InClearing SettlementData Workflow Lockin

Segment mix

Edenred SE segments

Full profile >

Benefits & Engagement

Oligopoly

65.2%

Mobility

Oligopoly

23.9%

Complementary Solutions

Competitive

10.8%

Euronext N.V. segments

Full profile >

Listing

Oligopoly

14.3%

Trading

Oligopoly

34.4%

Advanced Data Services

Quasi-Monopoly

14.9%

Clearing

Oligopoly

12.4%

Custody & Settlement

Quasi-Monopoly

16.6%

Technology Solutions & Other

Competitive

6.5%

Investor Services

Competitive

0.9%

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.