VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Intercontinental Exchange, Inc. vs Veeva Systems 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

Veeva Systems Inc.

VEEV · New York Stock Exchange

Market cap (USD)$47.7B
SectorTechnology
CountryUS
Data as of2025-12-29
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 Veeva Systems Inc.'s moat claims, evidence, and risks.

View VEEV analysis

Comparison highlights

  • Moat score gap: Intercontinental Exchange, Inc. leads (87 / 100 vs 82 / 100 for Veeva Systems Inc.).
  • Segment focus: Intercontinental Exchange, Inc. has 3 segments (53.4% in Exchanges); Veeva Systems Inc. has 2 segments (53% in R&D Solutions).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Strong.
  • Moat breadth: Intercontinental Exchange, Inc. has 10 moat types across 4 domains; Veeva Systems Inc. has 4 across 3.

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%

Veeva Systems Inc.

R&D Solutions

Market

Life sciences R&D, clinical, regulatory, safety, and quality cloud applications (Vault platform-based suites)

Geography

Global

Customer

Life sciences companies plus CROs and related regulated organizations

Role

Vertical SaaS platform owner

Revenue share

53%

Side-by-side metrics

Intercontinental Exchange, Inc.
Veeva Systems Inc.
Ticker / Exchange
ICE - New York Stock Exchange
VEEV - New York Stock Exchange
Market cap (USD)
n/a
$47.7B
Sector
Financials
Technology
HQ country
US
US
Primary segment
Exchanges
R&D Solutions
Market structure
Oligopoly
Competitive
Market share
75% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
87 / 100
82 / 100
Moat domains
Network, Legal, Demand, Supply
Demand, Legal, Network
Last update
2025-12-30
2025-12-29

Moat coverage

Shared moat types

Data Workflow LockinCompliance Advantage

Intercontinental Exchange, Inc. strengths

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

Veeva Systems Inc. strengths

Ecosystem ComplementsSuite 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%

Veeva Systems Inc. segments

Full profile >

Commercial Solutions

Oligopoly

47%

R&D Solutions

Competitive

53%

Want the full wide moat stocks list?

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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.