VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Intercontinental Exchange, Inc. vs Visa 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)
SectorFinancials
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

Visa Inc.

V · New York Stock Exchange

Market cap (USD)$677.5B
SectorFinancials
CountryUS
Data as of2025-12-21
Moat score
77/ 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 Visa Inc.'s moat claims, evidence, and risks.

View V analysis

Comparison highlights

  • Moat score gap: Intercontinental Exchange, Inc. leads (87 / 100 vs 77 / 100 for Visa Inc.).
  • Segment focus: Intercontinental Exchange, Inc. has 3 segments (53.4% in Exchanges); Visa Inc. has 4 segments (35.9% in Data processing revenue).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs n/a.
  • Moat breadth: Intercontinental Exchange, Inc. has 10 moat types across 4 domains; Visa Inc. has 7 across 4.

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%

Visa Inc.

Data processing revenue

Market

Payment transaction processing (authorization, clearing and settlement) for VisaNet and related network access

Geography

Global

Customer

Issuers, acquirers, payment processors

Role

Network processor / switch (authorization, clearing, settlement)

Revenue share

35.9%

Side-by-side metrics

Intercontinental Exchange, Inc.
Visa Inc.
Ticker / Exchange
ICE - New York Stock Exchange
V - New York Stock Exchange
Market cap (USD)
n/a
$677.5B
Sector
Financials
Financials
HQ country
US
US
Primary segment
Exchanges
Data processing revenue
Market structure
Oligopoly
Oligopoly
Market share
75% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
n/a
Moat score
87 / 100
77 / 100
Moat domains
Network, Legal, Demand, Supply
Network, Demand, Supply, Legal
Last update
2025-12-30
2025-12-21

Moat coverage

Shared moat types

Clearing SettlementTwo Sided NetworkBrand TrustData Workflow LockinCompliance Advantage

Intercontinental Exchange, Inc. strengths

Concession LicenseData Network EffectsPhysical Network DensityInteroperability HubStandards Registry

Visa Inc. strengths

Capex Knowhow ScaleSuite Bundling

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%

Visa Inc. segments

Full profile >

Service revenue

Oligopoly

31.5%

Data processing revenue

Oligopoly

35.9%

International transaction revenue

Oligopoly

25.4%

Other revenue

Competitive

7.3%

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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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.