WIDE MOAT STOCKS COMPARISON

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Stock Comparison

Morningstar, Inc. vs SS&C Technologies Holdings, Inc.

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

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)$7.9B
Gross margin (TTM)62.2%
Operating margin (TTM)23.5%
Net margin (TTM)16.4%
SectorFinancials
IndustryExchanges and financial data
CountryUS
Data as of2026-08-23
67/100
Moat score

Partial score covering 76% of segment weight.

Full stock profile

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

View MORN analysis

SS&C Technologies Holdings, Inc.

SSNC · The Nasdaq Global Select Market

Market cap (USD)$18.3B
Gross margin (TTM)48.1%
Operating margin (TTM)23.6%
Net margin (TTM)13.2%
SectorTechnology
IndustryApplication software
CountryUS
Data as of2026-08-23
78/100
Moat score

Weighted across the company's segments.

Full stock profile

Dive deeper into SS&C Technologies Holdings, Inc.'s moat claims, evidence, and risks.

View SSNC analysis

Comparison highlights

  • Segment focus: Morningstar, Inc. has 7 segments (33.5% in Morningstar Direct Platform); SS&C Technologies Holdings, Inc. has 3 segments (82.6% in Technology-enabled services excluding Calastone).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Morningstar, Inc. has 2 moat types across 2 domains; SS&C Technologies Holdings, Inc. has 3 across 3.

Primary market context

Morningstar, Inc.

Morningstar Direct Platform

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

33.5%

SS&C Technologies Holdings, Inc.

Technology-enabled services excluding Calastone

Market

Software-enabled outsourcing and subscription services for financial services and healthcare (fund administration, transfer agency, middle/back office BPO, managed IT)

Geography

Global

Customer

Financial services firms (asset/wealth managers, alternative managers, banks, insurers) and healthcare payers/administrators

Role

Service provider / outsourcer (SaaS + BPO)

Revenue share

82.6%

Side-by-side metrics

Morningstar, Inc.
SS&C Technologies Holdings, Inc.
Ticker / Exchange
MORN - NASDAQ
SSNC - The Nasdaq Global Select Market
Market cap (USD)
$7.9B
$18.3B
Gross margin (TTM)
62.2%
48.1%
Operating margin (TTM)
23.5%
23.6%
Net margin (TTM)
16.4%
13.2%
Sector
Financials
Technology
Industry
Exchanges and financial data
Application software
HQ country
US
US
Primary segment
Morningstar Direct Platform
Technology-enabled services excluding Calastone
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
67 / 100 (partial, 76% coverage)
78 / 100
Moat domains
Demand, Legal
Demand, Supply, Network
Last update
2026-09-05
2026-09-05

Moat coverage

Shared moat types

Data Workflow Lockin

Morningstar, Inc. strengths

Regulated Standards Pipe

SS&C Technologies Holdings, Inc. strengths

Scale Economies Unit CostTwo Sided Network

Segment mix

Morningstar, Inc. segments

Full profile >

Morningstar Direct Platform

Oligopoly

33.5%

PitchBook

Oligopoly

26.3%

Morningstar Credit

Oligopoly

15.8%

Morningstar Wealth

Competitive

9.1%

Morningstar Retirement

Competitive

5.7%

Morningstar Sustainalytics

Oligopoly

3.8%

Morningstar Indexes

Oligopoly

5.7%

SS&C Technologies Holdings, Inc. segments

Full profile >

Technology-enabled services excluding Calastone

Competitive

82.6%

License, maintenance and related

Competitive

16.9%

Funds network connectivity (Calastone)

Oligopoly

0.5%

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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.