VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Interactive Brokers Group, Inc. vs Watsco, 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

Watsco, Inc.

WSO · New York Stock Exchange

Market cap (USD)$14.4B
Gross margin (TTM)28.3%
Operating margin (TTM)10.2%
Net margin (TTM)7.4%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-05
Moat score
72/ 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 Watsco, Inc.'s moat claims, evidence, and risks.

View WSO analysis

Comparison highlights

  • Moat score gap: Watsco, Inc. leads (72 / 100 vs 60 / 100 for Interactive Brokers Group, Inc.).
  • Segment focus: Interactive Brokers Group, Inc. has 1 segment (100% in Electronic brokerage); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Primary market structure: Competitive vs Competitive. Pricing power: Weak vs Moderate.
  • Moat breadth: Interactive Brokers Group, Inc. has 4 moat types across 4 domains; Watsco, Inc. has 4 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%

Watsco, Inc.

HVAC/R Distribution

Market

HVAC/R equipment, parts and supplies distribution

Geography

North America (U.S., Canada, Mexico, Puerto Rico; export to Latin America/Caribbean)

Customer

Licensed HVAC and refrigeration contractors (residential & commercial)

Role

Wholesale distributor

Revenue share

100%

Side-by-side metrics

Interactive Brokers Group, Inc.
Watsco, Inc.
Ticker / Exchange
IBKR - NASDAQ
WSO - New York Stock Exchange
Market cap (USD)
$123.6B
$14.4B
Gross margin (TTM)
89%
28.3%
Operating margin (TTM)
82.7%
10.2%
Net margin (TTM)
9.2%
7.4%
Sector
Financials
Industrials
Industry
Investment - Banking & Investment Services
Industrial - Distribution
HQ country
US
US
Primary segment
Electronic brokerage
HVAC/R Distribution
Market structure
Competitive
Competitive
Market share
n/a
9%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
60 / 100
72 / 100
Moat domains
Supply, Network, Legal, Demand
Supply, Legal, Demand
Last update
2026-01-06
2026-01-05

Moat coverage

Shared moat types

Data Workflow Lockin

Interactive Brokers Group, Inc. strengths

Operational ExcellenceInteroperability HubCompliance Advantage

Watsco, Inc. strengths

Physical Network DensityContractual ExclusivityScale Economies Unit Cost

Segment mix

Interactive Brokers Group, Inc. segments

Full profile >

Electronic brokerage

Competitive

100%

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

Want the full wide moat stocks list?

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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.