VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

Stock Comparison

Intercontinental Exchange, Inc. vs S&P Global Inc.

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)$84.4B
Gross margin (TTM)69%
Operating margin (TTM)40.8%
Net margin (TTM)30%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2026-05-26
Moat score
91/ 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

S&P Global Inc.

SPGI · New York Stock Exchange

Market cap (USD)$122.9B
Gross margin (TTM)70.5%
Operating margin (TTM)43.9%
Net margin (TTM)30.4%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2026-05-26
Moat score
78/ 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 S&P Global Inc.'s moat claims, evidence, and risks.

View SPGI analysis

Comparison highlights

  • Moat score gap: Intercontinental Exchange, Inc. leads (91 / 100 vs 78 / 100 for S&P Global Inc.).
  • Segment focus: Intercontinental Exchange, Inc. has 4 segments (46.2% in Exchange transaction and clearing); S&P Global Inc. has 5 segments (32% in S&P Global Market Intelligence).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Intercontinental Exchange, Inc. has 8 moat types across 4 domains; S&P Global Inc. has 9 across 5.

Primary market context

Intercontinental Exchange, Inc.

Exchange transaction and clearing

Market

Global regulated derivatives, cash equities, equity options, OTC energy trading and clearing venues

Geography

Global, with major venues and clearing houses in the U.S., U.K., EU, Canada, Asia Pacific and the Middle East

Customer

Financial institutions, asset managers, market makers, hedgers, corporates, energy firms and brokers

Role

Regulated exchange operator, execution venue and central counterparty clearing infrastructure

Revenue share

46.2%

S&P Global Inc.

S&P Global Market Intelligence

Market

Financial market data, analytics, and workflow tools for institutions

Geography

Global

Customer

B2B (institutional investors, banks, insurers, corporates)

Role

Data/analytics and workflow software provider

Revenue share

32%

Side-by-side metrics

Intercontinental Exchange, Inc.
S&P Global Inc.
Ticker / Exchange
ICE - New York Stock Exchange
SPGI - New York Stock Exchange
Market cap (USD)
$84.4B
$122.9B
Gross margin (TTM)
69%
70.5%
Operating margin (TTM)
40.8%
43.9%
Net margin (TTM)
30%
30.4%
Sector
Financials
Financials
Industry
Financial - Data & Stock Exchanges
Financial - Data & Stock Exchanges
HQ country
US
US
Primary segment
Exchange transaction and clearing
S&P Global Market Intelligence
Market structure
Oligopoly
Oligopoly
Market share
19.8%-20.1% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
91 / 100
78 / 100
Moat domains
Network, Financial, Demand, Supply
Demand, Supply, Legal, Network, Financial
Last update
2026-05-26
2026-05-26

Moat coverage

Shared moat types

Benchmark Pricing PowerBrand TrustData Workflow LockinScope EconomiesEcosystem Complements

Intercontinental Exchange, Inc. strengths

Two Sided NetworkClearing SettlementData Network Effects

S&P Global Inc. strengths

Regulated Standards PipeDe Facto StandardCompliance AdvantageSwitching Costs General

Segment mix

Intercontinental Exchange, Inc. segments

Full profile >

Exchange transaction and clearing

Oligopoly

46.2%

Exchange data, connectivity and listings

Oligopoly

13.6%

Fixed Income and Data Services

Oligopoly

22.1%

Mortgage Technology

Quasi-Monopoly

18.1%

S&P Global Inc. segments

Full profile >

S&P Global Market Intelligence

Oligopoly

32%

S&P Global Ratings

Oligopoly

29.7%

S&P Global Energy

Oligopoly

15%

S&P Global Mobility

Competitive

11.4%

S&P Dow Jones Indices

Oligopoly

12%

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.