VOL. XCIV, NO. 247

* MOAT STOCKS COMPARISON *

NO ADVICE

Friday, December 26, 2025

Stock Comparison

MarketAxess Holdings Inc. vs Merck & Co., Inc.

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

MarketAxess Holdings Inc.

MKTX · NASDAQ Global Select Market

Market cap (USD)$6.7B
SectorFinancials
CountryUS
Data as of2025-12-23
Moat score
74/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

View full moat analysis >

Merck & Co., Inc.

MRK · New York Stock Exchange

Market cap (USD)$250.9B
SectorHealthcare
CountryUS
Data as of2025-12-22
Moat score
71/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

View full moat analysis >

Side-by-side metrics

MarketAxess Holdings Inc.
Merck & Co., Inc.
Ticker / Exchange
MKTX - NASDAQ Global Select Market
MRK - New York Stock Exchange
Market cap (USD)
$6.7B
$250.9B
Sector
Financials
Healthcare
HQ country
US
US
Primary segment
Trade Execution Solutions
Pharmaceutical
Market structure
Oligopoly
Competitive
Market share
19% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
71 / 100
Moat domains
Network, Demand, Legal
Legal, Supply, Demand
Last update
2025-12-23
2025-12-22

Moat coverage

Shared moat types

Data Workflow Lockin

MarketAxess Holdings Inc. strengths

Two Sided NetworkData Network EffectsCompliance AdvantageSwitching Costs GeneralEcosystem Complements

Merck & Co., Inc. strengths

IP Choke PointRegulated Standards PipeCapex Knowhow ScaleScope Economies

Segment mix

MarketAxess Holdings Inc. segments

Full profile >

Trade Execution Solutions

Oligopoly

87.1%

Services (Data, Post-Trade and Technology)

Competitive

12.9%

Merck & Co., Inc. segments

Full profile >

Pharmaceutical

Competitive

89.5%

Animal Health

Oligopoly

9.2%

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 Pricing, features, and availability may be incomplete or out of date.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.