VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Euronext N.V. vs Merck & Co., 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

Merck & Co., Inc.

MRK · New York Stock Exchange

Market cap (USD)$266.4B
Gross margin (TTM)78.3%
Operating margin (TTM)36.4%
Net margin (TTM)29.6%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryUS
Data as of2025-12-22
Moat score
71/ 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 Merck & Co., Inc.'s moat claims, evidence, and risks.

View MRK analysis

Comparison highlights

  • Moat score gap: Euronext N.V. leads (74 / 100 vs 71 / 100 for Merck & Co., Inc.).
  • Segment focus: Euronext N.V. has 7 segments (34.4% in Trading); Merck & Co., Inc. has 2 segments (89.5% in Pharmaceutical).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Euronext N.V. has 7 moat types across 4 domains; Merck & Co., Inc. has 5 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%

Merck & Co., Inc.

Pharmaceutical

Market

Branded prescription pharmaceuticals & human vaccines

Geography

Global

Customer

Wholesalers/retailers, managed care and government payers, hospitals/clinics

Role

R&D-intensive innovator, manufacturer, and marketer

Revenue share

89.5%

Side-by-side metrics

Euronext N.V.
Merck & Co., Inc.
Ticker / Exchange
ENX - Euronext Paris
MRK - New York Stock Exchange
Market cap (USD)
n/a
$266.4B
Gross margin (TTM)
n/a
78.3%
Operating margin (TTM)
n/a
36.4%
Net margin (TTM)
n/a
29.6%
Sector
Financials
Healthcare
Industry
n/a
Drug Manufacturers - General
HQ country
NL
US
Primary segment
Trading
Pharmaceutical
Market structure
Oligopoly
Competitive
Market share
64.8% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
71 / 100
Moat domains
Legal, Network, Supply, Demand
Legal, Supply, Demand
Last update
2026-01-03
2025-12-22

Moat coverage

Shared moat types

IP Choke PointData Workflow Lockin

Euronext N.V. strengths

Concession LicenseTwo Sided NetworkOperational ExcellenceFormat Lock InClearing Settlement

Merck & Co., Inc. strengths

Regulated Standards PipeCapex Knowhow ScaleScope Economies

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%

Merck & Co., Inc. segments

Full profile >

Pharmaceutical

Competitive

89.5%

Animal Health

Oligopoly

9.2%

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.