VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

LPL Financial Holdings Inc. vs Vertex Pharmaceuticals Incorporated

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)$28.8B
Gross margin (TTM)24.1%
Operating margin (TTM)9.5%
Net margin (TTM)5.4%
SectorFinancials
IndustryFinancial - Capital Markets
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

Vertex Pharmaceuticals Incorporated

VRTX · NASDAQ

Market cap (USD)$119B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
IndustryBiotechnology
CountryUS
Data as of2026-01-08
Moat score
99/ 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 Vertex Pharmaceuticals Incorporated's moat claims, evidence, and risks.

View VRTX analysis

Comparison highlights

  • Moat score gap: Vertex Pharmaceuticals Incorporated leads (99 / 100 vs 79 / 100 for LPL Financial Holdings Inc.).
  • Segment focus: LPL Financial Holdings Inc. has 1 segment (100% in Advisor Platform); Vertex Pharmaceuticals Incorporated has 3 segments (99.9% in Cystic Fibrosis CFTR Modulators).
  • Primary market structure: Oligopoly vs Quasi-Monopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: LPL Financial Holdings Inc. has 6 moat types across 4 domains; Vertex Pharmaceuticals Incorporated has 7 across 4.

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%

Vertex Pharmaceuticals Incorporated

Cystic Fibrosis CFTR Modulators

Market

CFTR modulator therapies for cystic fibrosis

Geography

U.S., Europe, Australia, Canada

Customer

Patients (via specialty pharmacies/payers); CF care centers

Role

Drug developer/manufacturer

Revenue share

99.9%

Side-by-side metrics

LPL Financial Holdings Inc.
Vertex Pharmaceuticals Incorporated
Ticker / Exchange
LPLA - Nasdaq
VRTX - NASDAQ
Market cap (USD)
$28.8B
$119B
Gross margin (TTM)
24.1%
n/a
Operating margin (TTM)
9.5%
n/a
Net margin (TTM)
5.4%
n/a
Sector
Financials
Healthcare
Industry
Financial - Capital Markets
Biotechnology
HQ country
US
US
Primary segment
Advisor Platform
Cystic Fibrosis CFTR Modulators
Market structure
Oligopoly
Quasi-Monopoly
Market share
23%-25% (reported)
70%-78% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
79 / 100
99 / 100
Moat domains
Supply, Demand, Legal, Network
Legal, Demand, Financial, Supply
Last update
2025-12-26
2026-01-08

Moat coverage

Shared moat types

Switching Costs General

LPL Financial Holdings Inc. strengths

Scale Economies Unit CostSuite BundlingOperational ExcellenceCompliance AdvantageTwo Sided Network

Vertex Pharmaceuticals Incorporated strengths

IP Choke PointGovernment Contracting RelationshipsBenchmark Pricing PowerRegulated Standards PipeService Field NetworkCapacity Moat

Segment mix

LPL Financial Holdings Inc. segments

Full profile >

Advisor Platform

Oligopoly

100%

Vertex Pharmaceuticals Incorporated segments

Full profile >

Cystic Fibrosis CFTR Modulators

Quasi-Monopoly

99.9%

Hemoglobinopathies Gene Therapy (CASGEVY)

Oligopoly

0.1%

Acute Pain (JOURNAVX)

Competitive

n/a

Want the full wide moat stocks list?

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

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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.