VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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)$8.5B
Gross margin (TTM)51.9%
Operating margin (TTM)31.2%
Net margin (TTM)24.5%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2026-05-27
Moat score
72/ 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)$84.4B
Gross margin (TTM)69%
Operating margin (TTM)40.8%
Net margin (TTM)30%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2026-05-26
Moat score
91/ 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 (91 / 100 vs 72 / 100 for FactSet Research Systems Inc.).
  • Segment focus: FactSet Research Systems Inc. has 3 segments (65.3% in Americas); Intercontinental Exchange, Inc. has 4 segments (46.2% in Exchange transaction and clearing).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: FactSet Research Systems Inc. has 5 moat types across 3 domains; Intercontinental Exchange, Inc. has 8 across 4.

Primary market context

FactSet Research Systems Inc.

Americas

Market

Americas financial market data, analytics, workstations and enterprise data solutions

Geography

North, Central and South America

Customer

Institutional asset managers, wealth managers, bankers, asset owners, hedge funds, private equity, corporate users and market-infrastructure partners

Role

Subscription data, analytics, workstation, portfolio, enterprise data, API and identifier provider

Revenue share

65.3%

Intercontinental Exchange, Inc.

Exchange transaction and clearing

Market

Global regulated derivatives, cash equities, equity options, OTC energy trading and clearing venues

Geography

Global, with major venues and clearing houses in the U.S., U.K., EU, Canada, Asia Pacific and the Middle East

Customer

Financial institutions, asset managers, market makers, hedgers, corporates, energy firms and brokers

Role

Regulated exchange operator, execution venue and central counterparty clearing infrastructure

Revenue share

46.2%

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)
$8.5B
$84.4B
Gross margin (TTM)
51.9%
69%
Operating margin (TTM)
31.2%
40.8%
Net margin (TTM)
24.5%
30%
Sector
Financials
Financials
Industry
Financial - Data & Stock Exchanges
Financial - Data & Stock Exchanges
HQ country
US
US
Primary segment
Americas
Exchange transaction and clearing
Market structure
Oligopoly
Oligopoly
Market share
5.5%-6.5% (implied)
19.8%-20.1% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
72 / 100
91 / 100
Moat domains
Demand, Network, Supply
Network, Financial, Demand, Supply
Last update
2026-05-27
2026-05-26

Moat coverage

Shared moat types

Data Workflow Lockin

FactSet Research Systems Inc. strengths

Procurement InertiaStandards RegistryInteroperability HubOperational Excellence

Intercontinental Exchange, Inc. strengths

Two Sided NetworkBenchmark Pricing PowerClearing SettlementBrand TrustScope EconomiesEcosystem ComplementsData Network Effects

Segment mix

FactSet Research Systems Inc. segments

Full profile >

Americas

Oligopoly

65.3%

EMEA

Oligopoly

24.5%

Asia Pacific

Oligopoly

10.2%

Intercontinental Exchange, Inc. segments

Full profile >

Exchange transaction and clearing

Oligopoly

46.2%

Exchange data, connectivity and listings

Oligopoly

13.6%

Fixed Income and Data Services

Oligopoly

22.1%

Mortgage Technology

Quasi-Monopoly

18.1%

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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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

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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.