VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Wide Moat StocksExpansion-Stage Stocks Home My Collections

Stock Comparison

Equifax Inc. vs Tradeweb Markets Inc.

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

Equifax Inc.

EFX · New York Stock Exchange

Market cap (USD)$27.3B
Gross margin (TTM)56.3%
Operating margin (TTM)18.5%
Net margin (TTM)11.1%
SectorIndustrials
IndustryConsulting Services
CountryUS
Data as of2025-12-26
Moat score
70/ 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 Equifax Inc.'s moat claims, evidence, and risks.

View EFX analysis

Tradeweb Markets Inc.

TW · Nasdaq Global Select Market

Market cap (USD)$23.6B
Gross margin (TTM)66.7%
Operating margin (TTM)40.3%
Net margin (TTM)31.6%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2026-01-06
Moat score
70/ 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 Tradeweb Markets Inc.'s moat claims, evidence, and risks.

View TW analysis

Comparison highlights

  • Moat score: both at 70 / 100.
  • Segment focus: Equifax Inc. has 3 segments (42.8% in Workforce Solutions); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Equifax Inc. has 3 moat types across 3 domains; Tradeweb Markets Inc. has 7 across 4.

Primary market context

Equifax Inc.

Workforce Solutions

Market

Income & employment verification and employer HR compliance services

Geography

Primarily U.S. (with smaller international offerings)

Customer

Employers, lenders, government agencies, and credentialed verifiers

Role

Payroll-fed data & verification intermediary

Revenue share

42.8%

Tradeweb Markets Inc.

Rates

Market

Electronic dealer-to-client and all-to-all trading in rates (government bonds, mortgages/TBA MBS, interest rate swaps)

Geography

Global

Customer

Institutional, wholesale dealers, and retail via ATS

Role

Electronic marketplace / trading venue

Revenue share

52.4%

Side-by-side metrics

Equifax Inc.
Tradeweb Markets Inc.
Ticker / Exchange
EFX - New York Stock Exchange
TW - Nasdaq Global Select Market
Market cap (USD)
$27.3B
$23.6B
Gross margin (TTM)
56.3%
66.7%
Operating margin (TTM)
18.5%
40.3%
Net margin (TTM)
11.1%
31.6%
Sector
Industrials
Financials
Industry
Consulting Services
Financial - Capital Markets
HQ country
US
US
Primary segment
Workforce Solutions
Rates
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
70 / 100
70 / 100
Moat domains
Network, Demand, Legal
Network, Demand, Legal, Supply
Last update
2025-12-26
2026-01-06

Moat coverage

Shared moat types

Data Workflow LockinCompliance Advantage

Equifax Inc. strengths

Data Network Effects

Tradeweb Markets Inc. strengths

Two Sided NetworkEcosystem ComplementsLong Term ContractsBrand TrustScope Economies

Segment mix

Equifax Inc. segments

Full profile >

Workforce Solutions

Oligopoly

42.8%

U.S. Information Solutions

Oligopoly

33.3%

International

Competitive

23.8%

Tradeweb Markets Inc. segments

Full profile >

Rates

Oligopoly

52.4%

Credit

Oligopoly

26.6%

Equities

Competitive

6%

Money Markets

Oligopoly

6.7%

Market Data

Competitive

6.8%

Other

Competitive

1.4%

Want the full wide moat stocks list?

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

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.