VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Euronext N.V. vs Tyler Technologies, 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

Tyler Technologies, Inc.

TYL · New York Stock Exchange

Market cap (USD)$18.9B
Gross margin (TTM)44.2%
Operating margin (TTM)15.4%
Net margin (TTM)13.7%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2025-12-26
Moat score
66/ 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 Tyler Technologies, Inc.'s moat claims, evidence, and risks.

View TYL analysis

Comparison highlights

  • Moat score gap: Euronext N.V. leads (74 / 100 vs 66 / 100 for Tyler Technologies, Inc.).
  • Segment focus: Euronext N.V. has 7 segments (34.4% in Trading); Tyler Technologies, Inc. has 2 segments (70.7% in Enterprise Software).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Euronext N.V. has 7 moat types across 4 domains; Tyler Technologies, Inc. has 7 across 2.

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%

Tyler Technologies, Inc.

Enterprise Software

Market

Public sector enterprise application software for mission-critical back-office functions (ERP/public administration, courts & justice, public safety, education, property & recording)

Geography

Primarily United States; also Canada and other international locations

Customer

Government agencies and other public entities (state/local/federal), school districts

Role

Vertical software vendor + implementation/services

Revenue share

70.7%

Side-by-side metrics

Euronext N.V.
Tyler Technologies, Inc.
Ticker / Exchange
ENX - Euronext Paris
TYL - New York Stock Exchange
Market cap (USD)
n/a
$18.9B
Gross margin (TTM)
n/a
44.2%
Operating margin (TTM)
n/a
15.4%
Net margin (TTM)
n/a
13.7%
Sector
Financials
Technology
Industry
n/a
Software - Application
HQ country
NL
US
Primary segment
Trading
Enterprise Software
Market structure
Oligopoly
Competitive
Market share
64.8% (reported)
5%-7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
66 / 100
Moat domains
Legal, Network, Supply, Demand
Demand, Supply
Last update
2026-01-03
2025-12-26

Moat coverage

Shared moat types

Data Workflow Lockin

Euronext N.V. strengths

Concession LicenseTwo Sided NetworkOperational ExcellenceIP Choke PointFormat Lock InClearing Settlement

Tyler Technologies, Inc. strengths

Training Org Change CostsProcurement InertiaSuite BundlingLong Term ContractsScale Economies Unit CostBrand Trust

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%

Tyler Technologies, Inc. segments

Full profile >

Enterprise Software

Competitive

70.7%

Platform Technologies

Competitive

29%

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.