VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Heineken N.V. vs Nasdaq, Inc.

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

Heineken N.V.

HEIA · Euronext Amsterdam

Market cap (USD)
SectorConsumer
CountryNL
Data as of2025-12-28
Moat score
65/ 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 Heineken N.V.'s moat claims, evidence, and risks.

View HEIA 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: Nasdaq, Inc. leads (76 / 100 vs 65 / 100 for Heineken N.V.).
  • Segment focus: Heineken N.V. has 4 segments (38.7% in Europe); Nasdaq, Inc. has 3 segments (42.4% in Capital Access Platforms).
  • Moat breadth: Heineken N.V. has 5 moat types across 2 domains; Nasdaq, Inc. has 9 across 5.

Primary market context

Heineken N.V.

Europe

Market

Beer, cider and beyond-beer alcoholic beverages

Geography

Europe

Customer

Consumers via on-trade (bars/restaurants) and off-trade (retail/wholesale)

Role

Brewer / brand owner / route-to-market operator

Revenue share

38.7%

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

Heineken N.V.
Nasdaq, Inc.
Ticker / Exchange
HEIA - Euronext Amsterdam
NDAQ - NASDAQ
Market cap (USD)
n/a
n/a
Sector
Consumer
Financials
HQ country
NL
US
Primary segment
Europe
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
65 / 100
76 / 100
Moat domains
Demand, Supply
Legal, Network, Supply, Demand, Financial
Last update
2025-12-28
2025-12-31

Moat coverage

Shared moat types

Brand TrustData Workflow Lockin

Heineken N.V. strengths

Distribution ControlScale Economies Unit CostOperational Excellence

Nasdaq, Inc. strengths

Concession LicenseTwo Sided NetworkPhysical Network DensityDe Facto StandardBenchmark Pricing PowerCompliance AdvantageLong Term Contracts

Segment mix

Heineken N.V. segments

Full profile >

Europe

Oligopoly

38.7%

Americas

Oligopoly

34%

Africa & Middle East

Oligopoly

13.5%

Asia Pacific

Oligopoly

13.8%

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.