VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

HCA Healthcare, Inc. vs Tradeweb Markets Inc.

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

HCA Healthcare, Inc.

HCA · New York Stock Exchange

Market cap (USD)$116B
Gross margin (TTM)15.6%
Operating margin (TTM)15.6%
Net margin (TTM)8.6%
SectorHealthcare
IndustryMedical - Care Facilities
CountryUS
Data as of2026-01-01
Moat score
67/ 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 HCA Healthcare, Inc.'s moat claims, evidence, and risks.

View HCA analysis

Tradeweb Markets Inc.

TW · Nasdaq Global Select Market

Market cap (USD)$23.6B
Gross margin (TTM)66.7%
Operating margin (TTM)40.3%
Net margin (TTM)31.6%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2026-01-06
Moat score
70/ 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 Tradeweb Markets Inc.'s moat claims, evidence, and risks.

View TW analysis

Comparison highlights

  • Moat score gap: Tradeweb Markets Inc. leads (70 / 100 vs 67 / 100 for HCA Healthcare, Inc.).
  • Segment focus: HCA Healthcare, Inc. has 1 segment (100% in Hospitals and related healthcare entities); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Moat breadth: HCA Healthcare, Inc. has 4 moat types across 3 domains; Tradeweb Markets Inc. has 7 across 4.

Primary market context

HCA Healthcare, Inc.

Hospitals and related healthcare entities

Market

Acute care hospitals and outpatient healthcare services

Geography

United States (multi-state) and England (United Kingdom)

Customer

Patients and third-party payers

Role

Provider operator

Revenue share

100%

Tradeweb Markets Inc.

Rates

Market

Electronic dealer-to-client and all-to-all trading in rates (government bonds, mortgages/TBA MBS, interest rate swaps)

Geography

Global

Customer

Institutional, wholesale dealers, and retail via ATS

Role

Electronic marketplace / trading venue

Revenue share

52.4%

Side-by-side metrics

HCA Healthcare, Inc.
Tradeweb Markets Inc.
Ticker / Exchange
HCA - New York Stock Exchange
TW - Nasdaq Global Select Market
Market cap (USD)
$116B
$23.6B
Gross margin (TTM)
15.6%
66.7%
Operating margin (TTM)
15.6%
40.3%
Net margin (TTM)
8.6%
31.6%
Sector
Healthcare
Financials
Industry
Medical - Care Facilities
Financial - Capital Markets
HQ country
US
US
Primary segment
Hospitals and related healthcare entities
Rates
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
67 / 100
70 / 100
Moat domains
Legal, Supply, Demand
Network, Demand, Legal, Supply
Last update
2026-01-01
2026-01-06

Moat coverage

Shared moat types

Scope Economies

HCA Healthcare, Inc. strengths

Permits Rights Of WayPhysical Network DensitySwitching Costs General

Tradeweb Markets Inc. strengths

Two Sided NetworkData Workflow LockinCompliance AdvantageEcosystem ComplementsLong Term ContractsBrand Trust

Segment mix

HCA Healthcare, Inc. segments

Full profile >

Hospitals and related healthcare entities

Oligopoly

100%

Tradeweb Markets Inc. segments

Full profile >

Rates

Oligopoly

52.4%

Credit

Oligopoly

26.6%

Equities

Competitive

6%

Money Markets

Oligopoly

6.7%

Market Data

Competitive

6.8%

Other

Competitive

1.4%

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.