VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

FactSet Research Systems Inc. vs Intercontinental Exchange, Inc.

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

FactSet Research Systems Inc.

FDS · New York Stock Exchange

Market cap (USD)$31.3B
SectorFinancials
CountryUS
Data as of2025-12-30
Moat score
85/ 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 FactSet Research Systems Inc.'s moat claims, evidence, and risks.

View FDS analysis

Intercontinental Exchange, Inc.

ICE · New York Stock Exchange

Market cap (USD)
SectorFinancials
CountryUS
Data as of2025-12-30
Moat score
87/ 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 Intercontinental Exchange, Inc.'s moat claims, evidence, and risks.

View ICE analysis

Comparison highlights

  • Moat score gap: Intercontinental Exchange, Inc. leads (87 / 100 vs 85 / 100 for FactSet Research Systems Inc.).
  • Segment focus: FactSet Research Systems Inc. has 2 segments; Intercontinental Exchange, Inc. has 3 segments (53.4% in Exchanges).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: FactSet Research Systems Inc. has 6 moat types across 3 domains; Intercontinental Exchange, Inc. has 10 across 4.

Primary market context

FactSet Research Systems Inc.

Hosted Platform (Workstations & Analytics)

Market

Financial data and analytics platforms for investment professionals

Geography

Global

Customer

Institutional investors and financial institutions

Role

Software and data platform vendor

Intercontinental Exchange, Inc.

Exchanges

Market

Derivatives, cash equities, and listings exchanges plus central clearing (CCP) services

Geography

Global

Customer

Market participants (banks, broker-dealers, asset managers, proprietary traders) and issuers

Role

Exchange operator + clearing house (CCP)

Revenue share

53.4%

Side-by-side metrics

FactSet Research Systems Inc.
Intercontinental Exchange, Inc.
Ticker / Exchange
FDS - New York Stock Exchange
ICE - New York Stock Exchange
Market cap (USD)
$31.3B
n/a
Sector
Financials
Financials
HQ country
US
US
Primary segment
Hosted Platform (Workstations & Analytics)
Exchanges
Market structure
Oligopoly
Oligopoly
Market share
n/a
75% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
85 / 100
87 / 100
Moat domains
Demand, Network, Legal
Network, Legal, Demand, Supply
Last update
2025-12-30
2025-12-30

Moat coverage

Shared moat types

Data Workflow LockinStandards RegistryConcession License

FactSet Research Systems Inc. strengths

Switching Costs GeneralSuite BundlingDe Facto Standard

Intercontinental Exchange, Inc. strengths

Clearing SettlementTwo Sided NetworkBrand TrustData Network EffectsPhysical Network DensityInteroperability HubCompliance Advantage

Segment mix

FactSet Research Systems Inc. segments

Full profile >

Hosted Platform (Workstations & Analytics)

Oligopoly

n/a

Identifier Platform (CUSIP Global Services)

Quasi-Monopoly

n/a

Intercontinental Exchange, Inc. segments

Full profile >

Exchanges

Oligopoly

53.4%

Fixed Income and Data Services

Oligopoly

24.8%

Mortgage Technology

Oligopoly

21.8%

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.