VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Thursday, January 8, 2026

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Stock Comparison

MercadoLibre, Inc. vs Tradeweb Markets Inc.

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

MercadoLibre, Inc.

MELI · NASDAQ

Market cap (USD)$108.9B
Gross margin (TTM)45.1%
Operating margin (TTM)12%
Net margin (TTM)7.9%
SectorTechnology
IndustrySpecialty Retail
CountryUS
Data as of2025-12-29
Moat score
73/ 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 MercadoLibre, Inc.'s moat claims, evidence, and risks.

View MELI analysis

Tradeweb Markets Inc.

TW · Nasdaq Global Select Market

Market cap (USD)$23.6B
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: MercadoLibre, Inc. leads (73 / 100 vs 70 / 100 for Tradeweb Markets Inc.).
  • Segment focus: MercadoLibre, Inc. has 2 segments (58.5% in Commerce (Marketplace, logistics, ads, classifieds)); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Moat breadth: MercadoLibre, Inc. has 6 moat types across 4 domains; Tradeweb Markets Inc. has 7 across 4.

Primary market context

MercadoLibre, Inc.

Commerce (Marketplace, logistics, ads, classifieds)

Market

Latin American e-commerce marketplace and commerce services (online marketplace, 1P retail, fulfillment/logistics, advertising)

Geography

Latin America (Brazil, Mexico, Argentina and other countries)

Customer

Consumers (buyers) and merchants/brands (sellers), including MSMEs

Role

Marketplace operator + retailer + logistics orchestrator

Revenue share

58.5%

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

MercadoLibre, Inc.
Tradeweb Markets Inc.
Ticker / Exchange
MELI - NASDAQ
TW - Nasdaq Global Select Market
Market cap (USD)
$108.9B
$23.6B
Gross margin (TTM)
45.1%
66.7%
Operating margin (TTM)
12%
40.3%
Net margin (TTM)
7.9%
31.6%
Sector
Technology
Financials
Industry
Specialty Retail
Financial - Capital Markets
HQ country
US
US
Primary segment
Commerce (Marketplace, logistics, ads, classifieds)
Rates
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
73 / 100
70 / 100
Moat domains
Network, Supply, Demand, Legal
Network, Demand, Legal, Supply
Last update
2025-12-29
2026-01-06

Moat coverage

Shared moat types

Two Sided NetworkEcosystem ComplementsData Workflow LockinCompliance Advantage

MercadoLibre, Inc. strengths

Distribution ControlSwitching Costs General

Tradeweb Markets Inc. strengths

Long Term ContractsBrand TrustScope Economies

Segment mix

MercadoLibre, Inc. segments

Full profile >

Commerce (Marketplace, logistics, ads, classifieds)

Oligopoly

58.5%

Fintech (Mercado Pago & credit)

Competitive

41.5%

Tradeweb Markets Inc. segments

Full profile >

Rates

Oligopoly

52.4%

Credit

Oligopoly

26.6%

Equities

Competitive

6%

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.

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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.