VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

MarketAxess Holdings Inc. vs Veeva Systems 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.

Full stock profile

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

View MKTX analysis

Veeva Systems Inc.

VEEV · New York Stock Exchange

Market cap (USD)$47.7B
SectorTechnology
CountryUS
Data as of2025-12-29
Moat score
82/ 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 Veeva Systems Inc.'s moat claims, evidence, and risks.

View VEEV analysis

Comparison highlights

  • Moat score gap: Veeva Systems Inc. leads (82 / 100 vs 74 / 100 for MarketAxess Holdings Inc.).
  • Segment focus: MarketAxess Holdings Inc. has 2 segments (87.1% in Trade Execution Solutions); Veeva Systems Inc. has 2 segments (53% in R&D Solutions).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Strong.
  • Moat breadth: MarketAxess Holdings Inc. has 6 moat types across 3 domains; Veeva Systems Inc. has 4 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%

Veeva Systems Inc.

R&D Solutions

Market

Life sciences R&D, clinical, regulatory, safety, and quality cloud applications (Vault platform-based suites)

Geography

Global

Customer

Life sciences companies plus CROs and related regulated organizations

Role

Vertical SaaS platform owner

Revenue share

53%

Side-by-side metrics

MarketAxess Holdings Inc.
Veeva Systems Inc.
Ticker / Exchange
MKTX - NASDAQ Global Select Market
VEEV - New York Stock Exchange
Market cap (USD)
$6.7B
$47.7B
Sector
Financials
Technology
HQ country
US
US
Primary segment
Trade Execution Solutions
R&D Solutions
Market structure
Oligopoly
Competitive
Market share
19% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
74 / 100
82 / 100
Moat domains
Network, Demand, Legal
Demand, Legal, Network
Last update
2025-12-23
2025-12-29

Moat coverage

Shared moat types

Data Workflow LockinCompliance AdvantageEcosystem Complements

MarketAxess Holdings Inc. strengths

Two Sided NetworkData Network EffectsSwitching Costs General

Veeva Systems Inc. strengths

Suite Bundling

Segment mix

MarketAxess Holdings Inc. segments

Full profile >

Trade Execution Solutions

Oligopoly

87.1%

Services (Data, Post-Trade and Technology)

Competitive

12.9%

Veeva Systems Inc. segments

Full profile >

Commercial Solutions

Oligopoly

47%

R&D Solutions

Competitive

53%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

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.