VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Edenred SE vs Morningstar, Inc.

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

Edenred SE

EDEN · Euronext Paris

Market cap (USD)$4.4B
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

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryUS
Data as of2026-01-10
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 Morningstar, Inc.'s moat claims, evidence, and risks.

View MORN analysis

Comparison highlights

  • Moat score: both at 67 / 100.
  • Segment focus: Edenred SE has 3 segments (65.2% in Benefits & Engagement); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
  • Moat breadth: Edenred SE has 7 moat types across 5 domains; Morningstar, Inc. has 6 across 3.

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%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Edenred SE
Morningstar, Inc.
Ticker / Exchange
EDEN - Euronext Paris
MORN - NASDAQ
Market cap (USD)
$4.4B
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
US
Primary segment
Benefits & Engagement
Morningstar Data and Analytics
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
67 / 100
67 / 100
Moat domains
Legal, Network, Financial, Demand, Supply
Demand, Network, Legal
Last update
2025-12-28
2026-01-10

Moat coverage

Shared moat types

Regulated Standards PipeSuite Bundling

Edenred SE strengths

Two Sided NetworkFloat PrepaymentBrand TrustSwitching Costs GeneralCapex Knowhow Scale

Morningstar, Inc. strengths

Data Workflow LockinDe Facto StandardTraining Org Change CostsIP Choke Point

Segment mix

Edenred SE segments

Full profile >

Benefits & Engagement

Oligopoly

65.2%

Mobility

Oligopoly

23.9%

Complementary Solutions

Competitive

10.8%

Morningstar, Inc. segments

Full profile >

Morningstar Data and Analytics

Oligopoly

34.6%

PitchBook

Oligopoly

27.2%

Morningstar Credit

Oligopoly

12.8%

Morningstar Wealth

Competitive

10.9%

Morningstar Retirement

Competitive

5.6%

Morningstar Sustainalytics

Oligopoly

5.2%

Morningstar Indexes

Oligopoly

3.7%

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.