VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

The Hershey Company vs Intercontinental Exchange, Inc.

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

The Hershey Company

HSY · New York Stock Exchange

Market cap (USD)
SectorConsumer
CountryUS
Data as of2025-12-26
Moat score
75/ 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 The Hershey Company's moat claims, evidence, and risks.

View HSY analysis

Intercontinental Exchange, Inc.

ICE · New York Stock Exchange

Market cap (USD)
SectorFinancials
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 75 / 100 for The Hershey Company).
  • Segment focus: The Hershey Company has 3 segments (81.4% in North America Confectionery); Intercontinental Exchange, Inc. has 3 segments (53.4% in Exchanges).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: The Hershey Company has 4 moat types across 2 domains; Intercontinental Exchange, Inc. has 10 across 4.

Primary market context

The Hershey Company

North America Confectionery

Market

Branded chocolate and non-chocolate confectionery

Geography

United States and Canada

Customer

Retail consumers via grocery, mass, club and convenience

Role

Branded manufacturer and marketer

Revenue share

81.4%

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

The Hershey Company
Intercontinental Exchange, Inc.
Ticker / Exchange
HSY - New York Stock Exchange
ICE - New York Stock Exchange
Market cap (USD)
n/a
n/a
Sector
Consumer
Financials
HQ country
US
US
Primary segment
North America Confectionery
Exchanges
Market structure
Oligopoly
Oligopoly
Market share
34%-38% (reported)
75% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
75 / 100
87 / 100
Moat domains
Demand, Supply
Network, Legal, Demand, Supply
Last update
2025-12-26
2025-12-30

Moat coverage

Shared moat types

Brand Trust

The Hershey Company strengths

Distribution ControlOperational ExcellenceScope Economies

Intercontinental Exchange, Inc. strengths

Clearing SettlementConcession LicenseTwo Sided NetworkData Workflow LockinData Network EffectsPhysical Network DensityInteroperability HubStandards RegistryCompliance Advantage

Segment mix

The Hershey Company segments

Full profile >

North America Confectionery

Oligopoly

81.4%

North America Salty Snacks

Oligopoly

10.1%

International

Competitive

8.5%

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?

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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.