VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Intercontinental Exchange, Inc. vs Eli Lilly and Company

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

Intercontinental Exchange, Inc.

ICE · New York Stock Exchange

Market cap (USD)$94.9B
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

Eli Lilly and Company

LLY · New York Stock Exchange

Market cap (USD)$935.6B
Gross margin (TTM)83%
Operating margin (TTM)43.9%
Net margin (TTM)31%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryUS
Data as of2026-01-05
Moat score
66/ 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 Eli Lilly and Company's moat claims, evidence, and risks.

View LLY analysis

Comparison highlights

  • Moat score gap: Intercontinental Exchange, Inc. leads (87 / 100 vs 66 / 100 for Eli Lilly and Company).
  • Segment focus: Intercontinental Exchange, Inc. has 3 segments (53.4% in Exchanges); Eli Lilly and Company has 5 segments (65.5% in Cardiometabolic Health).
  • Moat breadth: Intercontinental Exchange, Inc. has 10 moat types across 4 domains; Eli Lilly and Company has 5 across 2.

Primary market context

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%

Eli Lilly and Company

Cardiometabolic Health

Market

Branded cardiometabolic pharmaceuticals (type 2 diabetes, obesity, and related metabolic/cardiovascular conditions; especially incretin therapies)

Geography

Global

Customer

Patients via prescribers; payers/PBMs; wholesaler & pharmacy channels

Role

Drug developer, manufacturer, and marketer

Revenue share

65.5%

Side-by-side metrics

Intercontinental Exchange, Inc.
Eli Lilly and Company
Ticker / Exchange
ICE - New York Stock Exchange
LLY - New York Stock Exchange
Market cap (USD)
$94.9B
$935.6B
Gross margin (TTM)
55.4%
83%
Operating margin (TTM)
38.1%
43.9%
Net margin (TTM)
25.2%
31%
Sector
Financials
Healthcare
Industry
Financial - Data & Stock Exchanges
Drug Manufacturers - General
HQ country
US
US
Primary segment
Exchanges
Cardiometabolic Health
Market structure
Oligopoly
Oligopoly
Market share
75% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
87 / 100
66 / 100
Moat domains
Network, Legal, Demand, Supply
Legal, Supply
Last update
2025-12-30
2026-01-05

Moat coverage

Shared moat types

Compliance Advantage

Intercontinental Exchange, Inc. strengths

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

Eli Lilly and Company strengths

IP Choke PointCapacity MoatLearning Curve YieldOperational Excellence

Segment mix

Intercontinental Exchange, Inc. segments

Full profile >

Exchanges

Oligopoly

53.4%

Fixed Income and Data Services

Oligopoly

24.8%

Mortgage Technology

Oligopoly

21.8%

Eli Lilly and Company segments

Full profile >

Cardiometabolic Health

Oligopoly

65.5%

Oncology

Competitive

19.4%

Immunology

Competitive

9.8%

Neuroscience

Competitive

3.3%

Other

Competitive

2%

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.