VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Saturday, January 10, 2026

Stock Comparison

MarketAxess Holdings Inc. vs The Italian Sea Group S.p.A.

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)$6.3B
Gross margin (TTM)66.2%
Operating margin (TTM)41.2%
Net margin (TTM)26.2%
SectorFinancials
IndustryFinancial - Capital Markets
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

The Italian Sea Group S.p.A.

TISG · Euronext Milan (Borsa Italiana)

Market cap (USD)$241.7M
Gross margin (TTM)70.9%
Operating margin (TTM)12.1%
Net margin (TTM)3.8%
SectorConsumer
IndustryLeisure
CountryIT
Data as of2026-01-08
Moat score
61/ 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 The Italian Sea Group S.p.A.'s moat claims, evidence, and risks.

View TISG analysis

Comparison highlights

  • Moat score gap: MarketAxess Holdings Inc. leads (74 / 100 vs 61 / 100 for The Italian Sea Group S.p.A.).
  • Segment focus: MarketAxess Holdings Inc. has 2 segments (87.1% in Trade Execution Solutions); The Italian Sea Group S.p.A. has 2 segments (89.7% in Shipbuilding).
  • Moat breadth: MarketAxess Holdings Inc. has 6 moat types across 3 domains; The Italian Sea Group S.p.A. has 5 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%

The Italian Sea Group S.p.A.

Shipbuilding

Market

Luxury yacht and superyacht shipbuilding (motor and sailing, 24m+ projects under construction/contract)

Geography

Global

Customer

Ultra-high-net-worth individuals (owners) and yacht brokers; occasional fleet/charter buyers

Role

Designer/shipyard (OEM) and brand owner

Revenue share

89.7%

Side-by-side metrics

MarketAxess Holdings Inc.
The Italian Sea Group S.p.A.
Ticker / Exchange
MKTX - NASDAQ Global Select Market
TISG - Euronext Milan (Borsa Italiana)
Market cap (USD)
$6.3B
$241.7M
Gross margin (TTM)
66.2%
70.9%
Operating margin (TTM)
41.2%
12.1%
Net margin (TTM)
26.2%
3.8%
Sector
Financials
Consumer
Industry
Financial - Capital Markets
Leisure
HQ country
US
IT
Primary segment
Trade Execution Solutions
Shipbuilding
Market structure
Oligopoly
Oligopoly
Market share
19% (reported)
1.8%-2.2% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
61 / 100
Moat domains
Network, Demand, Legal
Demand, Supply, Legal
Last update
2025-12-23
2026-01-08

Moat coverage

Shared moat types

No overlap yet.

MarketAxess Holdings Inc. strengths

Two Sided NetworkData Workflow LockinData Network EffectsCompliance AdvantageSwitching Costs GeneralEcosystem Complements

The Italian Sea Group S.p.A. strengths

Brand TrustSupply Chain ControlConcession LicenseLong Term ContractsOperational Excellence

Segment mix

MarketAxess Holdings Inc. segments

Full profile >

Trade Execution Solutions

Oligopoly

87.1%

Services (Data, Post-Trade and Technology)

Competitive

12.9%

The Italian Sea Group S.p.A. segments

Full profile >

Shipbuilding

Oligopoly

89.7%

Refit

Competitive

10.3%

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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.