VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Euronext N.V. vs Manhattan Associates, Inc.

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

Manhattan Associates, Inc.

MANH · The Nasdaq Stock Market LLC

Market cap (USD)$10.1B
Gross margin (TTM)55.9%
Operating margin (TTM)25.9%
Net margin (TTM)20.3%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2025-12-28
Moat score
56/ 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 Manhattan Associates, Inc.'s moat claims, evidence, and risks.

View MANH analysis

Comparison highlights

  • Moat score gap: Euronext N.V. leads (74 / 100 vs 56 / 100 for Manhattan Associates, Inc.).
  • Segment focus: Euronext N.V. has 7 segments (34.4% in Trading); Manhattan Associates, Inc. has 4 segments (50.4% in Professional services (implementation, consulting, training)).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Euronext N.V. has 7 moat types across 4 domains; Manhattan Associates, Inc. has 7 across 1.

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%

Manhattan Associates, Inc.

Professional services (implementation, consulting, training)

Market

Supply chain & omnichannel software implementation and consulting services

Geography

Global

Customer

Enterprises implementing or expanding supply chain/omnichannel systems

Role

Implementation and advisory services provider

Revenue share

50.4%

Side-by-side metrics

Euronext N.V.
Manhattan Associates, Inc.
Ticker / Exchange
ENX - Euronext Paris
MANH - The Nasdaq Stock Market LLC
Market cap (USD)
n/a
$10.1B
Gross margin (TTM)
n/a
55.9%
Operating margin (TTM)
n/a
25.9%
Net margin (TTM)
n/a
20.3%
Sector
Financials
Technology
Industry
n/a
Software - Application
HQ country
NL
US
Primary segment
Trading
Professional services (implementation, consulting, training)
Market structure
Oligopoly
Competitive
Market share
64.8% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
74 / 100
56 / 100
Moat domains
Legal, Network, Supply, Demand
Demand
Last update
2026-01-03
2025-12-28

Moat coverage

Shared moat types

Data Workflow Lockin

Euronext N.V. strengths

Concession LicenseTwo Sided NetworkOperational ExcellenceIP Choke PointFormat Lock InClearing Settlement

Manhattan Associates, Inc. strengths

Suite BundlingLong Term ContractsReputation ReviewsProcurement InertiaInstalled Base ConsumablesSwitching Costs General

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%

Manhattan Associates, Inc. segments

Full profile >

Cloud subscriptions (Manhattan Active SaaS)

Oligopoly

32.4%

Professional services (implementation, consulting, training)

Competitive

50.4%

Maintenance and support (legacy perpetual licenses)

Monopoly

13.3%

Perpetual licenses and hardware

Competitive

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

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.