VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Altria Group, Inc. vs Tradeweb Markets Inc.

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

Altria Group, Inc.

MO · New York Stock Exchange

Market cap (USD)$94.5B
Gross margin (TTM)72%
Operating margin (TTM)55.2%
Net margin (TTM)44%
SectorConsumer
IndustryTobacco
CountryUS
Data as of2025-12-30
Moat score
88/ 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 Altria Group, Inc.'s moat claims, evidence, and risks.

View MO 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: Altria Group, Inc. leads (88 / 100 vs 70 / 100 for Tradeweb Markets Inc.).
  • Segment focus: Altria Group, Inc. has 3 segments (88.3% in Smokeable Products); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Altria Group, Inc. has 5 moat types across 3 domains; Tradeweb Markets Inc. has 7 across 4.

Primary market context

Altria Group, Inc.

Smokeable Products

Market

U.S. cigarettes and machine-made cigars

Geography

United States

Customer

Wholesalers/distributors and large retail organizations (serving adult tobacco consumers 21+)

Role

Manufacturer and brand owner

Revenue share

88.3%

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

Altria Group, Inc.
Tradeweb Markets Inc.
Ticker / Exchange
MO - New York Stock Exchange
TW - Nasdaq Global Select Market
Market cap (USD)
$94.5B
$23.6B
Gross margin (TTM)
72%
66.7%
Operating margin (TTM)
55.2%
40.3%
Net margin (TTM)
44%
31.6%
Sector
Consumer
Financials
Industry
Tobacco
Financial - Capital Markets
HQ country
US
US
Primary segment
Smokeable Products
Rates
Market structure
Oligopoly
Oligopoly
Market share
45.9% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
88 / 100
70 / 100
Moat domains
Demand, Financial, Legal
Network, Demand, Legal, Supply
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Brand TrustCompliance Advantage

Altria Group, Inc. strengths

Habit DefaultBenchmark Pricing PowerRegulated Standards Pipe

Tradeweb Markets Inc. strengths

Two Sided NetworkData Workflow LockinEcosystem ComplementsLong Term ContractsScope Economies

Segment mix

Altria Group, Inc. segments

Full profile >

Smokeable Products

Oligopoly

88.3%

Oral Tobacco Products

Oligopoly

11.6%

E-Vapor and New Products (NJOY, Horizon, R&D)

Competitive

0.2%

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?

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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.