VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Mastercard Incorporated vs Visa 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)$445.2B
Gross margin (TTM)78.7%
Operating margin (TTM)59.4%
Net margin (TTM)45.9%
SectorFinancials
IndustryFinancial - Credit Services
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

Visa Inc.

V · New York Stock Exchange

Market cap (USD)$632.2B
Gross margin (TTM)81.3%
Operating margin (TTM)61.1%
Net margin (TTM)51.7%
SectorFinancials
IndustryFinancial - Credit Services
CountryUS
Data as of2026-04-24
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 Visa Inc.'s moat claims, evidence, and risks.

View V analysis

Comparison highlights

  • Moat score gap: Visa Inc. leads (99 / 100 vs 77 / 100 for Mastercard Incorporated).
  • Segment focus: Mastercard Incorporated has 2 segments (61.5% in Payment Network); Visa Inc. has 1 segment (100% in Payment Services).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Mastercard Incorporated has 6 moat types across 3 domains; Visa Inc. has 6 across 3.

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%

Visa Inc.

Payment Services

Market

Global general-purpose card payment networks and digital payment processing

Geography

Global, with fiscal 2025 net revenue approximately 39% U.S. and 61% international

Customer

Issuers, acquirers, merchants, fintechs, businesses, governments and consumers

Role

Four-party payment network, authorization, clearing, settlement, tokenization, risk, data and value-added services provider

Revenue share

100%

Side-by-side metrics

Mastercard Incorporated
Visa Inc.
Ticker / Exchange
MA - New York Stock Exchange
V - New York Stock Exchange
Market cap (USD)
$445.2B
$632.2B
Gross margin (TTM)
78.7%
81.3%
Operating margin (TTM)
59.4%
61.1%
Net margin (TTM)
45.9%
51.7%
Sector
Financials
Financials
Industry
Financial - Credit Services
Financial - Credit Services
HQ country
US
US
Primary segment
Payment Network
Payment Services
Market structure
Oligopoly
Oligopoly
Market share
29.7% (reported)
38.5% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
77 / 100
99 / 100
Moat domains
Network, Demand, Legal
Network, Supply, Demand
Last update
2025-12-21
2026-04-24

Moat coverage

Shared moat types

Two Sided NetworkClearing SettlementBrand TrustData Network Effects

Mastercard Incorporated strengths

Regulated Standards PipeData Workflow Lockin

Visa Inc. strengths

Scale Economies Unit CostInteroperability Hub

Segment mix

Mastercard Incorporated segments

Full profile >

Payment Network

Oligopoly

61.5%

Value-Added Services and Solutions

Competitive

38.5%

Visa Inc. segments

Full profile >

Payment Services

Oligopoly

100%

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.