★ WIDE MOAT STOCKS COMPARISON ★

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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)$90.5B
Gross margin (TTM)73.4%
Operating margin (TTM)44.9%
Net margin (TTM)30%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2026-08-23
Moat score
89/ 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)$127.1B
Gross margin (TTM)70.9%
Operating margin (TTM)46.3%
Net margin (TTM)30.5%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2026-08-23
Moat score
82/ 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 (89 / 100 vs 82 / 100 for S&P Global Inc.).
  • Segment focus: Intercontinental Exchange, Inc. has 4 segments (39.3% in Exchange transaction and clearing); S&P Global Inc. has 4 segments (35.9% in S&P Global Ratings).
  • Moat breadth: Intercontinental Exchange, Inc. has 6 moat types across 3 domains; S&P Global Inc. has 3 across 3.

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

39.3%

S&P Global Inc.

S&P Global Ratings

Market

Credit ratings and related research/analytics for debt capital markets

Geography

Global

Customer

B2B (issuers, investors, intermediaries)

Role

Independent credit risk opinion / rating agency

Revenue share

35.9%

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)
$90.5B
$127.1B
Gross margin (TTM)
73.4%
70.9%
Operating margin (TTM)
44.9%
46.3%
Net margin (TTM)
30%
30.5%
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 Ratings
Market structure
Oligopoly
Oligopoly
Market share
n/a
49%-51% (estimated)
HHI estimate
n/a
3,568
Pricing power
Strong
Strong
Moat score
89 / 100
82 / 100
Moat domains
Network, Financial, Demand
Demand, Legal, Network
Last update
2026-08-23
2026-08-23

Moat coverage

Shared moat types

Data Workflow Lockin

Intercontinental Exchange, Inc. strengths

Two Sided NetworkBenchmark Pricing PowerClearing SettlementBrand TrustEcosystem Complements

S&P Global Inc. strengths

Regulated Standards PipeDe Facto Standard

Segment mix

Intercontinental Exchange, Inc. segments

Full profile >

Exchange transaction and clearing

Oligopoly

39.3%

Exchange data, connectivity and listings

Oligopoly

15.6%

Fixed Income and Data Services

Oligopoly

24.2%

Mortgage Technology

Oligopoly

20.9%

S&P Global Inc. segments

Full profile >

S&P Global Market Intelligence

Oligopoly

33.1%

S&P Global Ratings

Oligopoly

35.9%

S&P Global Energy

Oligopoly

16.7%

S&P Dow Jones Indices

Oligopoly

14.3%

Act on this comparison

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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.