VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Mastercard Incorporated vs Nasdaq, Inc.

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

Mastercard Incorporated

MA · New York Stock Exchange

Market cap (USD)$516.9B
SectorFinancials
CountryUS
Data as of2025-12-21
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 Mastercard Incorporated's moat claims, evidence, and risks.

View MA analysis

Nasdaq, Inc.

NDAQ · NASDAQ

Market cap (USD)
SectorFinancials
CountryUS
Data as of2025-12-31
Moat score
76/ 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 Nasdaq, Inc.'s moat claims, evidence, and risks.

View NDAQ analysis

Comparison highlights

  • Moat score gap: Mastercard Incorporated leads (77 / 100 vs 76 / 100 for Nasdaq, Inc.).
  • Segment focus: Mastercard Incorporated has 2 segments (61.5% in Payment Network); Nasdaq, Inc. has 3 segments (42.4% in Capital Access Platforms).
  • Moat breadth: Mastercard Incorporated has 6 moat types across 3 domains; Nasdaq, Inc. has 9 across 5.

Primary market context

Mastercard Incorporated

Payment Network

Market

Four-party card payment network (switching, acceptance, and network-related services)

Geography

Global

Customer

Issuers, acquirers, merchants, account holders

Role

Network operator (authorization, clearing, settlement) and rules/standards steward

Revenue share

61.5%

Nasdaq, Inc.

Capital Access Platforms

Market

Issuer and investor solutions: listings, index licensing, market data, and investment analytics/workflow platforms

Geography

Global (with major exposure to U.S. and Nordic/Baltic markets)

Customer

Public/private companies (issuers), asset managers, institutional investors, data subscribers

Role

Listing venue + index administrator/licensor + data/analytics provider

Revenue share

42.4%

Side-by-side metrics

Mastercard Incorporated
Nasdaq, Inc.
Ticker / Exchange
MA - New York Stock Exchange
NDAQ - NASDAQ
Market cap (USD)
$516.9B
n/a
Sector
Financials
Financials
HQ country
US
US
Primary segment
Payment Network
Capital Access Platforms
Market structure
Oligopoly
Oligopoly
Market share
29.7% (reported)
80%-84% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
77 / 100
76 / 100
Moat domains
Network, Demand, Legal
Legal, Network, Supply, Demand, Financial
Last update
2025-12-21
2025-12-31

Moat coverage

Shared moat types

Two Sided NetworkBrand TrustData Workflow Lockin

Mastercard Incorporated strengths

Clearing SettlementRegulated Standards PipeData Network Effects

Nasdaq, Inc. strengths

Concession LicensePhysical Network DensityDe Facto StandardBenchmark Pricing PowerCompliance AdvantageLong Term Contracts

Segment mix

Mastercard Incorporated segments

Full profile >

Payment Network

Oligopoly

61.5%

Value-Added Services and Solutions

Competitive

38.5%

Nasdaq, Inc. segments

Full profile >

Market Services

Competitive

21.9%

Capital Access Platforms

Oligopoly

42.4%

Financial Technology

Competitive

35.6%

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.