VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

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Stock Comparison

InterContinental Hotels Group PLC vs Tradeweb Markets Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

InterContinental Hotels Group PLC

IHG · London Stock Exchange

Market cap (USD)$18.8B

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorConsumer

Industry—

CountryGB

Data as of2026-01-10

Moat score

57/ 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 Hotels Group PLC's moat claims, evidence, and risks.

View IHG analysis

Tradeweb Markets Inc.

TW · Nasdaq Global Select Market

Market cap (USD)$22.2B

Gross margin (TTM)66.7%

Operating margin (TTM)40.3%

Net margin (TTM)31.6%

SectorFinancials

IndustryFinancial - Capital Markets

CountryUS

Data as of2026-01-06

Moat score

70/ 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 Tradeweb Markets Inc.'s moat claims, evidence, and risks.

View TW analysis

Comparison highlights

Moat score gap: Tradeweb Markets Inc. leads (70 / 100 vs 57 / 100 for InterContinental Hotels Group PLC).
Segment focus: InterContinental Hotels Group PLC has 5 segments (36% in Fee business (franchise, management and ancillary fees)); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
Moat breadth: InterContinental Hotels Group PLC has 8 moat types across 3 domains; Tradeweb Markets Inc. has 7 across 4.

Primary market context

InterContinental Hotels Group PLC

Fee business (franchise, management and ancillary fees)

Market

Branded hotel franchising and management services

Geography

Global

Customer

Hotel owners and developers

Role

Franchisor and hotel manager (asset-light brand platform)

Revenue share

36%

Tradeweb Markets Inc.

Rates

Market

Electronic dealer-to-client and all-to-all trading in rates (government bonds, mortgages/TBA MBS, interest rate swaps)

Geography

Global

Customer

Institutional, wholesale dealers, and retail via ATS

Role

Electronic marketplace / trading venue

Revenue share

52.4%

Side-by-side metrics

InterContinental Hotels Group PLC

Tradeweb Markets Inc.

Ticker / Exchange

IHG - London Stock Exchange

TW - Nasdaq Global Select Market

Market cap (USD)

$18.8B

$22.2B

Gross margin (TTM)

n/a

66.7%

Operating margin (TTM)

n/a

40.3%

Net margin (TTM)

n/a

31.6%

Sector

Consumer

Financials

Industry

n/a

Financial - Capital Markets

HQ country

Primary segment

Fee business (franchise, management and ancillary fees)

Rates

Market structure

Oligopoly

Market share

n/a

HHI estimate

n/a

Pricing power

Moderate

Moat score

57 / 100

70 / 100

Moat domains

Demand, Supply, Network

Network, Demand, Legal, Supply

Last update

2026-01-10

2026-01-06

Moat coverage

Shared moat types

Brand TrustLong Term ContractsTwo Sided Network

InterContinental Hotels Group PLC strengths

Scale Economies Unit CostDistribution ControlPass-through reimbursement revenueAsset-heavy hotel operations (limited moat)Immaterial ancillary activity

Tradeweb Markets Inc. strengths

Data Workflow LockinCompliance AdvantageEcosystem ComplementsScope Economies

Segment mix

InterContinental Hotels Group PLC segments

Full profile >

Fee business (franchise, management and ancillary fees)

Oligopoly

36%

System Fund (marketing, reservations and loyalty assessments)

Monopoly

32.7%

Reimbursable revenues (managed hotel staff reimbursements)

Competitive

20.3%

Owned, leased and managed lease hotels

Competitive

10.5%

Insurance activities (ancillary)

Competitive

0.5%

Tradeweb Markets Inc. segments

Full profile >

Rates

Oligopoly

52.4%

Credit

Oligopoly

26.6%

Equities

Competitive

Money Markets

Oligopoly

6.7%

Market Data

Competitive

6.8%

Other

Competitive

1.4%

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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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.