VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

LPL Financial Holdings Inc. vs Spirax Group plc

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

LPL Financial Holdings Inc.

LPLA · Nasdaq

Market cap (USD)$29.9B
SectorFinancials
CountryUS
Data as of2025-12-26
Moat score
79/ 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 LPL Financial Holdings Inc.'s moat claims, evidence, and risks.

View LPLA analysis

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$6.7B
SectorIndustrials
CountryGB
Data as of2025-12-28
Moat score
71/ 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 Spirax Group plc's moat claims, evidence, and risks.

View SPX analysis

Comparison highlights

  • Moat score gap: LPL Financial Holdings Inc. leads (79 / 100 vs 71 / 100 for Spirax Group plc).
  • Segment focus: LPL Financial Holdings Inc. has 1 segment (100% in Advisor Platform); Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions).
  • Moat breadth: LPL Financial Holdings Inc. has 6 moat types across 4 domains; Spirax Group plc has 6 across 2.

Primary market context

LPL Financial Holdings Inc.

Advisor Platform

Market

Advisor-mediated wealth management platform (independent broker-dealer + RIA custody/clearing)

Geography

United States

Customer

Financial advisors and financial institutions

Role

Platform / broker-dealer / custodian

Revenue share

100%

Spirax Group plc

Steam Thermal Solutions

Market

Industrial and commercial steam systems (condensate management, controls, thermal energy management products and solutions)

Geography

Global

Customer

Industrial process operators and commercial facility operators

Role

OEM / solutions provider

Revenue share

52.1%

Side-by-side metrics

LPL Financial Holdings Inc.
Spirax Group plc
Ticker / Exchange
LPLA - Nasdaq
SPX - London Stock Exchange
Market cap (USD)
$29.9B
$6.7B
Sector
Financials
Industrials
HQ country
US
GB
Primary segment
Advisor Platform
Steam Thermal Solutions
Market structure
Oligopoly
Oligopoly
Market share
23%-25% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
79 / 100
71 / 100
Moat domains
Supply, Demand, Legal, Network
Supply, Demand
Last update
2025-12-26
2025-12-28

Moat coverage

Shared moat types

Suite Bundling

LPL Financial Holdings Inc. strengths

Scale Economies Unit CostOperational ExcellenceCompliance AdvantageTwo Sided NetworkSwitching Costs General

Spirax Group plc strengths

Service Field NetworkInstalled Base ConsumablesBrand TrustCapex Knowhow ScaleDesign In Qualification

Segment mix

LPL Financial Holdings Inc. segments

Full profile >

Advisor Platform

Oligopoly

100%

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

52.1%

Electric Thermal Solutions

Competitive

24.3%

Watson-Marlow Fluid Technology Solutions

Oligopoly

23.6%

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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.