VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Edwards Lifesciences Corporation vs Nasdaq, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Edwards Lifesciences Corporation

EW · New York Stock Exchange

Market cap (USD)$50B
SectorHealthcare
CountryUS
Data as of2025-12-31
Moat score
82/ 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 Edwards Lifesciences Corporation's moat claims, evidence, and risks.

View EW analysis

Nasdaq, Inc.

NDAQ · NASDAQ

Market cap (USD)
SectorFinancials
CountryUS
Data as of2025-12-31
Moat score
76/ 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 Nasdaq, Inc.'s moat claims, evidence, and risks.

View NDAQ analysis

Comparison highlights

  • Moat score gap: Edwards Lifesciences Corporation leads (82 / 100 vs 76 / 100 for Nasdaq, Inc.).
  • Segment focus: Edwards Lifesciences Corporation has 3 segments (75.5% in Transcatheter Aortic Valve Replacement (TAVR)); Nasdaq, Inc. has 3 segments (42.4% in Capital Access Platforms).
  • Moat breadth: Edwards Lifesciences Corporation has 6 moat types across 3 domains; Nasdaq, Inc. has 9 across 5.

Primary market context

Edwards Lifesciences Corporation

Transcatheter Aortic Valve Replacement (TAVR)

Market

Transcatheter aortic valve replacement (TAVR) devices

Geography

Global

Customer

Hospitals and structural heart centers

Role

Medical device manufacturer

Revenue share

75.5%

Nasdaq, Inc.

Capital Access Platforms

Market

Issuer and investor solutions: listings, index licensing, market data, and investment analytics/workflow platforms

Geography

Global (with major exposure to U.S. and Nordic/Baltic markets)

Customer

Public/private companies (issuers), asset managers, institutional investors, data subscribers

Role

Listing venue + index administrator/licensor + data/analytics provider

Revenue share

42.4%

Side-by-side metrics

Edwards Lifesciences Corporation
Nasdaq, Inc.
Ticker / Exchange
EW - New York Stock Exchange
NDAQ - NASDAQ
Market cap (USD)
$50B
n/a
Sector
Healthcare
Financials
HQ country
US
US
Primary segment
Transcatheter Aortic Valve Replacement (TAVR)
Capital Access Platforms
Market structure
Oligopoly
Oligopoly
Market share
60%-73% (estimated)
80%-84% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
82 / 100
76 / 100
Moat domains
Demand, Legal, Supply
Legal, Network, Supply, Demand, Financial
Last update
2025-12-31
2025-12-31

Moat coverage

Shared moat types

Brand TrustCompliance Advantage

Edwards Lifesciences Corporation strengths

Training Org Change CostsRegulated Standards PipeIP Choke PointSupply Chain Control

Nasdaq, Inc. strengths

Concession LicenseTwo Sided NetworkPhysical Network DensityDe Facto StandardBenchmark Pricing PowerData Workflow LockinLong Term Contracts

Segment mix

Edwards Lifesciences Corporation segments

Full profile >

Transcatheter Aortic Valve Replacement (TAVR)

Oligopoly

75.5%

Transcatheter Mitral and Tricuspid Therapies (TMTT)

Competitive

6.5%

Surgical Structural Heart

Oligopoly

18%

Nasdaq, Inc. segments

Full profile >

Market Services

Competitive

21.9%

Capital Access Platforms

Oligopoly

42.4%

Financial Technology

Competitive

35.6%

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.