VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Euronext N.V. vs Waste Management, 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

Waste Management, Inc.

WM · New York Stock Exchange

Market cap (USD)$88B
Gross margin (TTM)28.9%
Operating margin (TTM)17.6%
Net margin (TTM)10.4%
SectorIndustrials
IndustryWaste Management
CountryUS
Data as of2025-12-31
Moat score
79/ 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 Waste Management, Inc.'s moat claims, evidence, and risks.

View WM analysis

Comparison highlights

  • Moat score gap: Waste Management, Inc. leads (79 / 100 vs 74 / 100 for Euronext N.V.).
  • Segment focus: Euronext N.V. has 7 segments (34.4% in Trading); Waste Management, Inc. has 4 segments (82.2% in Collection and Disposal).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Euronext N.V. has 7 moat types across 4 domains; Waste Management, Inc. has 7 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%

Waste Management, Inc.

Collection and Disposal

Market

Municipal, commercial, and industrial solid waste collection, transfer, and landfill disposal

Geography

North America (primarily US and Canada)

Customer

Municipalities and end-customers (residential, commercial, industrial) via direct and contract channels

Role

Integrated hauler + transfer + landfill owner/operator

Revenue share

82.2%

Side-by-side metrics

Euronext N.V.
Waste Management, Inc.
Ticker / Exchange
ENX - Euronext Paris
WM - New York Stock Exchange
Market cap (USD)
n/a
$88B
Gross margin (TTM)
n/a
28.9%
Operating margin (TTM)
n/a
17.6%
Net margin (TTM)
n/a
10.4%
Sector
Financials
Industrials
Industry
n/a
Waste Management
HQ country
NL
US
Primary segment
Trading
Collection and Disposal
Market structure
Oligopoly
Oligopoly
Market share
64.8% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
74 / 100
79 / 100
Moat domains
Legal, Network, Supply, Demand
Legal, Supply, Demand
Last update
2026-01-03
2025-12-31

Moat coverage

Shared moat types

Operational Excellence

Euronext N.V. strengths

Concession LicenseTwo Sided NetworkIP Choke PointFormat Lock InClearing SettlementData Workflow Lockin

Waste Management, Inc. strengths

Permits Rights Of WayCapacity MoatPricing power via yield management and contracted rate actionsPreferential Input AccessRegulated Standards PipePhysical Network Density

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%

Waste Management, Inc. segments

Full profile >

Collection and Disposal

Oligopoly

82.2%

Recycling Processing and Sales

Competitive

6%

WM Renewable Energy

Competitive

1.7%

WM Healthcare Solutions

Oligopoly

10%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.