VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Halma plc vs Tradeweb Markets 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)$13.5B
Gross margin (TTM)29.3%
Operating margin (TTM)15%
Net margin (TTM)13.9%
SectorTechnology
IndustryConglomerates
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

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 59 / 100 for Halma plc).
  • Segment focus: Halma plc has 3 segments (40% in Safety); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Halma plc has 4 moat types across 2 domains; Tradeweb Markets Inc. has 7 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%

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

Halma plc
Tradeweb Markets Inc.
Ticker / Exchange
HLMA - London Stock Exchange
TW - Nasdaq Global Select Market
Market cap (USD)
$13.5B
$23.6B
Gross margin (TTM)
29.3%
66.7%
Operating margin (TTM)
15%
40.3%
Net margin (TTM)
13.9%
31.6%
Sector
Technology
Financials
Industry
Conglomerates
Financial - Capital Markets
HQ country
GB
US
Primary segment
Safety
Rates
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
59 / 100
70 / 100
Moat domains
Legal, Demand
Network, Demand, Legal, Supply
Last update
2026-01-02
2026-01-06

Moat coverage

Shared moat types

Compliance Advantage

Halma plc strengths

Design In QualificationProcurement InertiaSwitching Costs General

Tradeweb Markets Inc. strengths

Two Sided NetworkData Workflow LockinEcosystem ComplementsLong Term ContractsBrand TrustScope Economies

Segment mix

Halma plc segments

Full profile >

Safety

Competitive

40%

Environmental & Analysis

Competitive

35%

Healthcare

Competitive

25%

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.

View the moat stocks list

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.