VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Halma plc vs Intercontinental Exchange, Inc.

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

Halma plc

HLMA · London Stock Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryGB
Data as of2026-01-02
Moat score
59/ 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 Halma plc's moat claims, evidence, and risks.

View HLMA analysis

Intercontinental Exchange, Inc.

ICE · New York Stock Exchange

Market cap (USD)$91.9B
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 59 / 100 for Halma plc).
  • Segment focus: Halma plc has 3 segments (40% in Safety); Intercontinental Exchange, Inc. has 3 segments (53.4% in Exchanges).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Halma plc has 4 moat types across 2 domains; Intercontinental Exchange, Inc. has 10 across 4.

Primary market context

Halma plc

Safety

Market

Safety technologies (fire safety, public safety, worker safety, and protection of critical assets/infrastructure)

Geography

Global

Customer

Commercial/industrial facility owners and operators; infrastructure operators; installers and OEM channels

Role

Technology OEM / component + systems supplier

Revenue share

40%

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

Halma plc
Intercontinental Exchange, Inc.
Ticker / Exchange
HLMA - London Stock Exchange
ICE - New York Stock Exchange
Market cap (USD)
n/a
$91.9B
Gross margin (TTM)
n/a
55.4%
Operating margin (TTM)
n/a
38.1%
Net margin (TTM)
n/a
25.2%
Sector
Technology
Financials
Industry
n/a
Financial - Data & Stock Exchanges
HQ country
GB
US
Primary segment
Safety
Exchanges
Market structure
Competitive
Oligopoly
Market share
n/a
75% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
59 / 100
87 / 100
Moat domains
Legal, Demand
Network, Legal, Demand, Supply
Last update
2026-01-02
2025-12-30

Moat coverage

Shared moat types

Compliance Advantage

Halma plc strengths

Design In QualificationProcurement InertiaSwitching Costs General

Intercontinental Exchange, Inc. strengths

Clearing SettlementConcession LicenseTwo Sided NetworkBrand TrustData Workflow LockinData Network EffectsPhysical Network DensityInteroperability HubStandards Registry

Segment mix

Halma plc segments

Full profile >

Safety

Competitive

40%

Environmental & Analysis

Competitive

35%

Healthcare

Competitive

25%

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.

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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.