VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Saturday, January 3, 2026

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Stock Comparison

MSCI Inc. vs Xero Limited

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)$43.9B

Gross margin (TTM)82.4%

Operating margin (TTM)54.2%

Net margin (TTM)40%

SectorFinancials

IndustryFinancial - Data & Stock Exchanges

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

Xero Limited

XRO · Australian Securities Exchange

Market cap (USD)—

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorTechnology

Industry—

CountryNZ

Data as of2026-01-02

Moat score

71/ 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 Xero Limited's moat claims, evidence, and risks.

View XRO analysis

Comparison highlights

Moat score gap: MSCI Inc. leads (76 / 100 vs 71 / 100 for Xero Limited).
Segment focus: MSCI Inc. has 4 segments (55.9% in Index); Xero Limited has 2 segments.
Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
Moat breadth: MSCI Inc. has 4 moat types across 3 domains; Xero Limited has 7 across 3.

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%

Xero Limited

Core Accounting Subscription Platform

Market

Cloud accounting software for small businesses and their advisors

Geography

Global

Customer

SMB; accountants & bookkeepers

Role

Software platform (SaaS)

Side-by-side metrics

MSCI Inc.

Xero Limited

Ticker / Exchange

MSCI - New York Stock Exchange

XRO - Australian Securities Exchange

Market cap (USD)

$43.9B

n/a

Gross margin (TTM)

82.4%

n/a

Operating margin (TTM)

54.2%

n/a

Net margin (TTM)

40%

n/a

Sector

Financials

Technology

Industry

Financial - Data & Stock Exchanges

n/a

HQ country

Primary segment

Index

Core Accounting Subscription Platform

Market structure

Oligopoly

Market share

23%-27% (implied)

n/a

HHI estimate

n/a

Pricing power

Strong

Moderate

Moat score

76 / 100

71 / 100

Moat domains

Network, Demand, Legal

Demand, Network, Financial

Last update

2025-12-28

2026-01-02

Moat coverage

Shared moat types

Switching Costs GeneralData Workflow Lockin

MSCI Inc. strengths

De Facto StandardCompliance Advantage

Xero Limited strengths

Two Sided NetworkBenchmark Pricing PowerInteroperability HubEcosystem ComplementsSuite Bundling

Segment mix

MSCI Inc. segments

Full profile >

Index

Oligopoly

55.9%

Analytics

Oligopoly

23.6%

Sustainability and Climate

Competitive

11.4%

Private Assets

Competitive

Xero Limited segments

Full profile >

Core Accounting Subscription Platform

Oligopoly

n/a

Platform Services (Payments, Payroll, App Ecosystem)

Competitive

n/a

Want the full wide moat stocks list?

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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.