VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Euronext N.V. vs Stevanato Group S.p.A.

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)$12.9B
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

Stevanato Group S.p.A.

STVN · New York Stock Exchange

Market cap (USD)$5.7B
Gross margin (TTM)28.6%
Operating margin (TTM)16.7%
Net margin (TTM)12%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryIT
Data as of2026-01-05
Moat score
59/ 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 Stevanato Group S.p.A.'s moat claims, evidence, and risks.

View STVN analysis

Comparison highlights

  • Moat score gap: Euronext N.V. leads (74 / 100 vs 59 / 100 for Stevanato Group S.p.A.).
  • Segment focus: Euronext N.V. has 7 segments (34.4% in Trading); Stevanato Group S.p.A. has 3 segments (46.3% in Other Containment and Delivery Solutions).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Euronext N.V. has 7 moat types across 4 domains; Stevanato Group S.p.A. has 8 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%

Stevanato Group S.p.A.

Other Containment and Delivery Solutions

Market

Standard primary packaging and related services for injectable drugs and diagnostics

Geography

Global

Customer

Pharmaceutical, biotechnology, diagnostics and life sciences companies; fill-finish CMOs

Role

Primary packaging/component manufacturer and contract manufacturing partner

Revenue share

46.3%

Side-by-side metrics

Euronext N.V.
Stevanato Group S.p.A.
Ticker / Exchange
ENX - Euronext Paris
STVN - New York Stock Exchange
Market cap (USD)
$12.9B
$5.7B
Gross margin (TTM)
58.9%
28.6%
Operating margin (TTM)
51.2%
16.7%
Net margin (TTM)
36.2%
12%
Sector
Financials
Healthcare
Industry
Financial - Data & Stock Exchanges
Medical - Instruments & Supplies
HQ country
NL
IT
Primary segment
Trading
Other Containment and Delivery Solutions
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
59 / 100
Moat domains
Legal, Network, Supply, Demand
Demand, Supply, Network
Last update
2026-01-03
2026-01-05

Moat coverage

Shared moat types

Operational Excellence

Euronext N.V. strengths

Concession LicenseTwo Sided NetworkIP Choke PointFormat Lock InClearing SettlementData Workflow Lockin

Stevanato Group S.p.A. strengths

Design In QualificationCapex Knowhow ScaleDe Facto StandardBrand TrustLong Term ContractsService Field NetworkScope 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%

Stevanato Group S.p.A. segments

Full profile >

High-Value Solutions

Oligopoly

38.3%

Other Containment and Delivery Solutions

Competitive

46.3%

Engineering

Competitive

15.4%

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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.