VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Intercontinental Exchange, Inc. vs Walmart 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

Walmart Inc.

WMT · New York Stock Exchange

Market cap (USD)$894.3B
SectorConsumer
CountryUS
Data as of2025-12-30
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 Walmart Inc.'s moat claims, evidence, and risks.

View WMT analysis

Comparison highlights

  • Moat score gap: Intercontinental Exchange, Inc. leads (87 / 100 vs 77 / 100 for Walmart Inc.).
  • Segment focus: Intercontinental Exchange, Inc. has 3 segments (53.4% in Exchanges); Walmart Inc. has 3 segments (68.3% in Walmart U.S.).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Weak.
  • Moat breadth: Intercontinental Exchange, Inc. has 10 moat types across 4 domains; Walmart Inc. has 6 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%

Walmart Inc.

Walmart U.S.

Market

U.S. omnichannel discount retail and grocery (supercenters, neighborhood markets, eCommerce)

Geography

United States

Customer

Consumers and small businesses; marketplace sellers and advertisers (for marketplace and retail media offerings)

Role

Retailer / marketplace operator / last-mile fulfillment network

Revenue share

68.3%

Side-by-side metrics

Intercontinental Exchange, Inc.
Walmart Inc.
Ticker / Exchange
ICE - New York Stock Exchange
WMT - New York Stock Exchange
Market cap (USD)
n/a
$894.3B
Sector
Financials
Consumer
HQ country
US
US
Primary segment
Exchanges
Walmart U.S.
Market structure
Oligopoly
Competitive
Market share
75% (reported)
20%-22% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
87 / 100
77 / 100
Moat domains
Network, Legal, Demand, Supply
Supply, Demand, Network, Financial
Last update
2025-12-30
2025-12-30

Moat coverage

Shared moat types

Physical Network Density

Intercontinental Exchange, Inc. strengths

Clearing SettlementConcession LicenseTwo Sided NetworkBrand TrustData Workflow LockinData Network EffectsInteroperability HubStandards RegistryCompliance Advantage

Walmart Inc. strengths

Scale Economies Unit CostHabit DefaultSupply Chain ControlEcosystem ComplementsFloat Prepayment

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%

Walmart Inc. segments

Full profile >

Walmart U.S.

Competitive

68.3%

Walmart International

Competitive

18.1%

Sam's Club U.S.

Oligopoly

13.6%

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.