VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

FedEx Corporation vs Intercontinental Exchange, Inc.

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

FedEx Corporation

FDX · New York Stock Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryUS
Data as of2026-01-10
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 FedEx Corporation's moat claims, evidence, and risks.

View FDX analysis

Intercontinental Exchange, Inc.

ICE · New York Stock Exchange

Market cap (USD)$95.1B
Gross margin (TTM)55.4%
Operating margin (TTM)38.1%
Net margin (TTM)25.2%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
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 72 / 100 for FedEx Corporation).
  • Segment focus: FedEx Corporation has 3 segments (85.6% in Federal Express (integrated parcel & express)); Intercontinental Exchange, Inc. has 3 segments (53.4% in Exchanges).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: FedEx Corporation has 6 moat types across 4 domains; Intercontinental Exchange, Inc. has 10 across 4.

Primary market context

FedEx Corporation

Federal Express (integrated parcel & express)

Market

Integrated parcel and express delivery (air-ground integrator model)

Geography

Global

Customer

Business and consumer shippers

Role

Carrier / integrator

Revenue share

85.6%

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

FedEx Corporation
Intercontinental Exchange, Inc.
Ticker / Exchange
FDX - New York Stock Exchange
ICE - New York Stock Exchange
Market cap (USD)
n/a
$95.1B
Gross margin (TTM)
n/a
55.4%
Operating margin (TTM)
n/a
38.1%
Net margin (TTM)
n/a
25.2%
Sector
Industrials
Financials
Industry
n/a
Financial - Data & Stock Exchanges
HQ country
US
US
Primary segment
Federal Express (integrated parcel & express)
Exchanges
Market structure
Oligopoly
Oligopoly
Market share
18% (reported)
75% (reported)
HHI estimate
2,464
n/a
Pricing power
Moderate
Strong
Moat score
72 / 100
87 / 100
Moat domains
Supply, Demand, Financial, Network
Network, Legal, Demand, Supply
Last update
2026-01-10
2025-12-30

Moat coverage

Shared moat types

Physical Network DensityBrand TrustData Network Effects

FedEx Corporation strengths

Scale Economies Unit CostBenchmark Pricing PowerScope Economies

Intercontinental Exchange, Inc. strengths

Clearing SettlementConcession LicenseTwo Sided NetworkData Workflow LockinInteroperability HubStandards RegistryCompliance Advantage

Segment mix

FedEx Corporation segments

Full profile >

Federal Express (integrated parcel & express)

Oligopoly

85.6%

FedEx Freight (LTL)

Oligopoly

10.1%

Corporate, other, and eliminations (Dataworks, Office, Logistics)

Competitive

4.2%

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.

View the moat stocks list

Looking for expansion-stage stocks?

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

View expansion-stage stocks

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.