VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

MSCI Inc. vs Nasdaq, Inc.

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

MSCI Inc.

MSCI · New York Stock Exchange

Market cap (USD)$43.7B
SectorFinancials
CountryUS
Data as of2025-12-28
Moat score
76/ 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 MSCI Inc.'s moat claims, evidence, and risks.

View MSCI analysis

Nasdaq, Inc.

NDAQ · NASDAQ

Market cap (USD)
SectorFinancials
CountryUS
Data as of2025-12-31
Moat score
76/ 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 Nasdaq, Inc.'s moat claims, evidence, and risks.

View NDAQ analysis

Comparison highlights

  • Moat score: both at 76 / 100.
  • Segment focus: MSCI Inc. has 4 segments (55.9% in Index); Nasdaq, Inc. has 3 segments (42.4% in Capital Access Platforms).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: MSCI Inc. has 4 moat types across 3 domains; Nasdaq, Inc. has 9 across 5.

Primary market context

MSCI Inc.

Index

Market

Investment indexes and index licensing

Geography

Global

Customer

Institutional investors and asset managers

Role

Index provider / benchmark administrator

Revenue share

55.9%

Nasdaq, Inc.

Capital Access Platforms

Market

Issuer and investor solutions: listings, index licensing, market data, and investment analytics/workflow platforms

Geography

Global (with major exposure to U.S. and Nordic/Baltic markets)

Customer

Public/private companies (issuers), asset managers, institutional investors, data subscribers

Role

Listing venue + index administrator/licensor + data/analytics provider

Revenue share

42.4%

Side-by-side metrics

MSCI Inc.
Nasdaq, Inc.
Ticker / Exchange
MSCI - New York Stock Exchange
NDAQ - NASDAQ
Market cap (USD)
$43.7B
n/a
Sector
Financials
Financials
HQ country
US
US
Primary segment
Index
Capital Access Platforms
Market structure
Oligopoly
Oligopoly
Market share
23%-27% (implied)
80%-84% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
76 / 100
76 / 100
Moat domains
Network, Demand, Legal
Legal, Network, Supply, Demand, Financial
Last update
2025-12-28
2025-12-31

Moat coverage

Shared moat types

De Facto StandardCompliance AdvantageData Workflow Lockin

MSCI Inc. strengths

Switching Costs General

Nasdaq, Inc. strengths

Concession LicenseTwo Sided NetworkPhysical Network DensityBrand TrustBenchmark Pricing PowerLong Term Contracts

Segment mix

MSCI Inc. segments

Full profile >

Index

Oligopoly

55.9%

Analytics

Oligopoly

23.6%

Sustainability and Climate

Competitive

11.4%

Private Assets

Competitive

9%

Nasdaq, Inc. segments

Full profile >

Market Services

Competitive

21.9%

Capital Access Platforms

Oligopoly

42.4%

Financial Technology

Competitive

35.6%

Want the full wide moat stocks list?

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

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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.