VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

FactSet Research Systems Inc. vs Nasdaq, 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

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: FactSet Research Systems Inc. leads (85 / 100 vs 76 / 100 for Nasdaq, Inc.).
  • Segment focus: FactSet Research Systems Inc. has 2 segments; Nasdaq, Inc. has 3 segments (42.4% in Capital Access Platforms).
  • Moat breadth: FactSet Research Systems Inc. has 6 moat types across 3 domains; Nasdaq, Inc. has 9 across 5.

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

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

FactSet Research Systems Inc.
Nasdaq, Inc.
Ticker / Exchange
FDS - New York Stock Exchange
NDAQ - NASDAQ
Market cap (USD)
$31.3B
n/a
Sector
Financials
Financials
HQ country
US
US
Primary segment
Hosted Platform (Workstations & Analytics)
Capital Access Platforms
Market structure
Oligopoly
Oligopoly
Market share
n/a
80%-84% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
85 / 100
76 / 100
Moat domains
Demand, Network, Legal
Legal, Network, Supply, Demand, Financial
Last update
2025-12-30
2025-12-31

Moat coverage

Shared moat types

Data Workflow LockinDe Facto StandardConcession License

FactSet Research Systems Inc. strengths

Switching Costs GeneralSuite BundlingStandards Registry

Nasdaq, Inc. strengths

Two Sided NetworkPhysical Network DensityBrand TrustBenchmark Pricing PowerCompliance AdvantageLong Term Contracts

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

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.