VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Euronext N.V. vs Mastercard Incorporated

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

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

Mastercard Incorporated

MA · New York Stock Exchange

Market cap (USD)$507.2B
Gross margin (TTM)77.5%
Operating margin (TTM)57%
Net margin (TTM)45.3%
SectorFinancials
IndustryFinancial - Credit Services
CountryUS
Data as of2025-12-21
Moat score
77/ 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 Mastercard Incorporated's moat claims, evidence, and risks.

View MA analysis

Comparison highlights

  • Moat score gap: Mastercard Incorporated leads (77 / 100 vs 74 / 100 for Euronext N.V.).
  • Segment focus: Euronext N.V. has 7 segments (34.4% in Trading); Mastercard Incorporated has 2 segments (61.5% in Payment Network).
  • Moat breadth: Euronext N.V. has 7 moat types across 4 domains; Mastercard Incorporated has 6 across 3.

Primary market context

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%

Mastercard Incorporated

Payment Network

Market

Four-party card payment network (switching, acceptance, and network-related services)

Geography

Global

Customer

Issuers, acquirers, merchants, account holders

Role

Network operator (authorization, clearing, settlement) and rules/standards steward

Revenue share

61.5%

Side-by-side metrics

Euronext N.V.
Mastercard Incorporated
Ticker / Exchange
ENX - Euronext Paris
MA - New York Stock Exchange
Market cap (USD)
n/a
$507.2B
Gross margin (TTM)
n/a
77.5%
Operating margin (TTM)
n/a
57%
Net margin (TTM)
n/a
45.3%
Sector
Financials
Financials
Industry
n/a
Financial - Credit Services
HQ country
NL
US
Primary segment
Trading
Payment Network
Market structure
Oligopoly
Oligopoly
Market share
64.8% (reported)
29.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
77 / 100
Moat domains
Legal, Network, Supply, Demand
Network, Demand, Legal
Last update
2026-01-03
2025-12-21

Moat coverage

Shared moat types

Two Sided NetworkClearing SettlementData Workflow Lockin

Euronext N.V. strengths

Concession LicenseOperational ExcellenceIP Choke PointFormat Lock In

Mastercard Incorporated strengths

Brand TrustRegulated Standards PipeData Network Effects

Segment mix

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%

Mastercard Incorporated segments

Full profile >

Payment Network

Oligopoly

61.5%

Value-Added Services and Solutions

Competitive

38.5%

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

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.