VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Elevance Health, Inc. vs Euronext N.V.

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

Elevance Health, Inc.

ELV · New York Stock Exchange

Market cap (USD)$82.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
IndustryMedical - Healthcare Plans
CountryUS
Data as of2026-01-09
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 Elevance Health, Inc.'s moat claims, evidence, and risks.

View ELV analysis

Euronext N.V.

ENX · Euronext Paris

Market cap (USD)$12.4B
Gross margin (TTM)58.9%
Operating margin (TTM)51.2%
Net margin (TTM)36.2%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
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: both at 74 / 100.
  • Segment focus: Elevance Health, Inc. has 3 segments (85.2% in Health Benefits); Euronext N.V. has 7 segments (34.4% in Trading).
  • Moat breadth: Elevance Health, Inc. has 8 moat types across 3 domains; Euronext N.V. has 7 across 4.

Primary market context

Elevance Health, Inc.

Health Benefits

Market

U.S. health insurance and managed care

Geography

United States

Customer

Employers, individuals, and government programs

Role

Payer / managed care organization

Revenue share

85.2%

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

Elevance Health, Inc.
Euronext N.V.
Ticker / Exchange
ELV - New York Stock Exchange
ENX - Euronext Paris
Market cap (USD)
$82.8B
$12.4B
Gross margin (TTM)
n/a
58.9%
Operating margin (TTM)
n/a
51.2%
Net margin (TTM)
n/a
36.2%
Sector
Healthcare
Financials
Industry
Medical - Healthcare Plans
Financial - Data & Stock Exchanges
HQ country
US
NL
Primary segment
Health Benefits
Trading
Market structure
Oligopoly
Oligopoly
Market share
n/a
64.8% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
74 / 100
Moat domains
Legal, Demand, Supply
Legal, Network, Supply, Demand
Last update
2026-01-09
2026-01-03

Moat coverage

Shared moat types

Concession LicenseData Workflow Lockin

Elevance Health, Inc. strengths

Brand TrustScale Economies Unit CostGovernment Contracting RelationshipsSuite BundlingScope EconomiesSwitching Costs General

Euronext N.V. strengths

Two Sided NetworkOperational ExcellenceIP Choke PointFormat Lock InClearing Settlement

Segment mix

Elevance Health, Inc. segments

Full profile >

Health Benefits

Oligopoly

85.2%

CarelonRx

Oligopoly

12.8%

Carelon Services

Competitive

1.9%

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

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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.