VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

MarketAxess Holdings Inc. vs Rheinmetall Aktiengesellschaft

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.

Full stock profile

Dive deeper into MarketAxess Holdings Inc.'s moat claims, evidence, and risks.

View MKTX analysis

Rheinmetall Aktiengesellschaft

RHM · Xetra

Market cap (USD)$83.3B
SectorIndustrials
CountryDE
Data as of2025-12-28
Moat score
71/ 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 Rheinmetall Aktiengesellschaft's moat claims, evidence, and risks.

View RHM analysis

Comparison highlights

  • Moat score gap: MarketAxess Holdings Inc. leads (74 / 100 vs 71 / 100 for Rheinmetall Aktiengesellschaft).
  • Segment focus: MarketAxess Holdings Inc. has 2 segments (87.1% in Trade Execution Solutions); Rheinmetall Aktiengesellschaft has 4 segments (36.7% in Vehicle Systems).
  • Moat breadth: MarketAxess Holdings Inc. has 6 moat types across 3 domains; Rheinmetall Aktiengesellschaft has 6 across 3.

Primary market context

MarketAxess Holdings Inc.

Trade Execution Solutions

Market

Electronic fixed-income trade execution platforms (credit and rates)

Geography

Global

Customer

Institutional investors, broker-dealers, and alternative liquidity providers

Role

Electronic trading venue / marketplace operator

Revenue share

87.1%

Rheinmetall Aktiengesellschaft

Vehicle Systems

Market

Armored and tactical wheeled/tracked military vehicles

Geography

Global (Europe/NATO weighted)

Customer

Government / military

Revenue share

36.7%

Side-by-side metrics

MarketAxess Holdings Inc.
Rheinmetall Aktiengesellschaft
Ticker / Exchange
MKTX - NASDAQ Global Select Market
RHM - Xetra
Market cap (USD)
$6.7B
$83.3B
Sector
Financials
Industrials
HQ country
US
DE
Primary segment
Trade Execution Solutions
Vehicle Systems
Market structure
Oligopoly
Oligopoly
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, Demand, Supply
Last update
2025-12-23
2025-12-28

Moat coverage

Shared moat types

No overlap yet.

MarketAxess Holdings Inc. strengths

Two Sided NetworkData Workflow LockinData Network EffectsCompliance AdvantageSwitching Costs GeneralEcosystem Complements

Rheinmetall Aktiengesellschaft strengths

Government Contracting RelationshipsDesign In QualificationCapacity MoatSupply Chain ControlLong Term ContractsDistribution Control

Segment mix

MarketAxess Holdings Inc. segments

Full profile >

Trade Execution Solutions

Oligopoly

87.1%

Services (Data, Post-Trade and Technology)

Competitive

12.9%

Rheinmetall Aktiengesellschaft segments

Full profile >

Vehicle Systems

Oligopoly

36.7%

Weapon and Ammunition

Oligopoly

26.9%

Electronic Solutions

Oligopoly

16.7%

Power Systems (civilian; planned divestiture)

Competitive

19.7%

Want the full wide moat stocks list?

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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.