VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Interactive Brokers Group, Inc. vs Teradyne, Inc.

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

Interactive Brokers Group, Inc.

IBKR · NASDAQ

Market cap (USD)$123.6B
Gross margin (TTM)89%
Operating margin (TTM)82.7%
Net margin (TTM)9.2%
SectorFinancials
IndustryInvestment - Banking & Investment Services
CountryUS
Data as of2026-01-06
Moat score
60/ 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 Interactive Brokers Group, Inc.'s moat claims, evidence, and risks.

View IBKR analysis

Teradyne, Inc.

TER · Nasdaq Stock Market

Market cap (USD)$35.3B
Gross margin (TTM)58.9%
Operating margin (TTM)17.9%
Net margin (TTM)15.5%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2025-12-23
Moat score
79/ 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 Teradyne, Inc.'s moat claims, evidence, and risks.

View TER analysis

Comparison highlights

  • Moat score gap: Teradyne, Inc. leads (79 / 100 vs 60 / 100 for Interactive Brokers Group, Inc.).
  • Segment focus: Interactive Brokers Group, Inc. has 1 segment (100% in Electronic brokerage); Teradyne, Inc. has 3 segments (77.9% in Semiconductor Test).
  • Primary market structure: Competitive vs Duopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Interactive Brokers Group, Inc. has 4 moat types across 4 domains; Teradyne, Inc. has 6 across 3.

Primary market context

Interactive Brokers Group, Inc.

Electronic brokerage

Market

Multi-asset electronic brokerage, clearing, custody, and financing (self-directed and institutional)

Geography

Global

Customer

Individual investors and institutional clients (e.g., hedge funds, advisors, proprietary trading firms, introducing brokers)

Role

Broker-dealer / clearing broker / platform operator

Revenue share

100%

Teradyne, Inc.

Semiconductor Test

Market

Semiconductor automated test equipment (ATE) and system-level test (SLT)

Geography

Global

Customer

IDMs, foundries, fabless, OSATs

Role

Capital equipment supplier

Revenue share

77.9%

Side-by-side metrics

Interactive Brokers Group, Inc.
Teradyne, Inc.
Ticker / Exchange
IBKR - NASDAQ
TER - Nasdaq Stock Market
Market cap (USD)
$123.6B
$35.3B
Gross margin (TTM)
89%
58.9%
Operating margin (TTM)
82.7%
17.9%
Net margin (TTM)
9.2%
15.5%
Sector
Financials
Technology
Industry
Investment - Banking & Investment Services
Semiconductors
HQ country
US
US
Primary segment
Electronic brokerage
Semiconductor Test
Market structure
Competitive
Duopoly
Market share
n/a
27%-30% (implied)
HHI estimate
n/a
3,565
Pricing power
Weak
Moderate
Moat score
60 / 100
79 / 100
Moat domains
Supply, Network, Legal, Demand
Demand, Supply, Network
Last update
2026-01-06
2025-12-23

Moat coverage

Shared moat types

No overlap yet.

Interactive Brokers Group, Inc. strengths

Operational ExcellenceInteroperability HubCompliance AdvantageData Workflow Lockin

Teradyne, Inc. strengths

Format Lock InCapex Knowhow ScaleDesign In QualificationSwitching Costs GeneralEcosystem ComplementsBrand Trust

Segment mix

Interactive Brokers Group, Inc. segments

Full profile >

Electronic brokerage

Competitive

100%

Teradyne, Inc. segments

Full profile >

Semiconductor Test

Duopoly

77.9%

Product Test

Competitive

11.7%

Robotics

Competitive

10.4%

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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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.