★ WIDE MOAT STOCKS COMPARISON ★

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Stock Comparison

Morningstar, Inc. vs S&P Global Inc.

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

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)$6.2B
Gross margin (TTM)61.7%
Operating margin (TTM)22.7%
Net margin (TTM)16.1%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2026-07-12
Moat score
67/ 100

Partial score covering 76% of segment weight.

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

Full stock profile

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

View MORN analysis

S&P Global Inc.

SPGI · New York Stock Exchange

Market cap (USD)$122.8B
Gross margin (TTM)70.5%
Operating margin (TTM)43.9%
Net margin (TTM)30.4%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2026-07-12
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 S&P Global Inc.'s moat claims, evidence, and risks.

View SPGI analysis

Comparison highlights

  • Segment focus: Morningstar, Inc. has 7 segments (33.4% in Morningstar Direct Platform); S&P Global Inc. has 4 segments (34.5% in S&P Global Ratings).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Morningstar, Inc. has 2 moat types across 2 domains; S&P Global Inc. has 6 across 4.

Primary market context

Morningstar, Inc.

Morningstar Direct Platform

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

33.4%

S&P Global Inc.

S&P Global Ratings

Market

Credit ratings and related research/analytics for debt capital markets

Geography

Global

Customer

B2B (issuers, investors, intermediaries)

Role

Independent credit risk opinion / rating agency

Revenue share

34.5%

Side-by-side metrics

Morningstar, Inc.
S&P Global Inc.
Ticker / Exchange
MORN - NASDAQ
SPGI - New York Stock Exchange
Market cap (USD)
$6.2B
$122.8B
Gross margin (TTM)
61.7%
70.5%
Operating margin (TTM)
22.7%
43.9%
Net margin (TTM)
16.1%
30.4%
Sector
Financials
Financials
Industry
Financial - Data & Stock Exchanges
Financial - Data & Stock Exchanges
HQ country
US
US
Primary segment
Morningstar Direct Platform
S&P Global Ratings
Market structure
Oligopoly
Oligopoly
Market share
n/a
49%-52% (estimated)
HHI estimate
n/a
3,568
Pricing power
Moderate
Strong
Moat score
67 / 100 (partial, 76% coverage)
88 / 100
Moat domains
Demand, Legal
Demand, Legal, Network, Financial
Last update
2026-07-12
2026-07-12

Moat coverage

Shared moat types

Data Workflow LockinRegulated Standards Pipe

Morningstar, Inc. strengths

No unique moat types yet.

S&P Global Inc. strengths

Brand TrustDe Facto StandardEcosystem ComplementsBenchmark Pricing Power

Segment mix

Morningstar, Inc. segments

Full profile >

Morningstar Direct Platform

Oligopoly

33.4%

PitchBook

Oligopoly

26.7%

Morningstar Credit

Oligopoly

15.7%

Morningstar Wealth

Competitive

9%

Morningstar Retirement

Competitive

6%

Morningstar Sustainalytics

Oligopoly

4.1%

Morningstar Indexes

Oligopoly

5.1%

S&P Global Inc. segments

Full profile >

S&P Global Market Intelligence

Oligopoly

32.5%

S&P Global Ratings

Oligopoly

34.5%

S&P Global Energy

Oligopoly

19.2%

S&P Dow Jones Indices

Oligopoly

13.8%

Act on this comparison

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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.