VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Nasdaq, Inc. vs Northrop Grumman Corporation

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

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

Northrop Grumman Corporation

NOC · New York Stock Exchange

Market cap (USD)$83.1B
SectorIndustrials
CountryUS
Data as of2025-12-26
Moat score
72/ 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 Northrop Grumman Corporation's moat claims, evidence, and risks.

View NOC analysis

Comparison highlights

  • Moat score gap: Nasdaq, Inc. leads (76 / 100 vs 72 / 100 for Northrop Grumman Corporation).
  • Segment focus: Nasdaq, Inc. has 3 segments (42.4% in Capital Access Platforms); Northrop Grumman Corporation has 4 segments (28.7% in Aeronautics Systems).
  • Moat breadth: Nasdaq, Inc. has 9 moat types across 5 domains; Northrop Grumman Corporation has 6 across 3.

Primary market context

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%

Northrop Grumman Corporation

Aeronautics Systems

Market

Military aircraft systems (manned & unmanned) plus sustainment/modernization

Geography

Global (primarily United States and allies)

Customer

U.S. government and allied governments

Role

Prime contractor and major subsystem supplier

Revenue share

28.7%

Side-by-side metrics

Nasdaq, Inc.
Northrop Grumman Corporation
Ticker / Exchange
NDAQ - NASDAQ
NOC - New York Stock Exchange
Market cap (USD)
n/a
$83.1B
Sector
Financials
Industrials
HQ country
US
US
Primary segment
Capital Access Platforms
Aeronautics Systems
Market structure
Oligopoly
Oligopoly
Market share
80%-84% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
76 / 100
72 / 100
Moat domains
Legal, Network, Supply, Demand, Financial
Legal, Demand, Supply
Last update
2025-12-31
2025-12-26

Moat coverage

Shared moat types

Compliance Advantage

Nasdaq, Inc. strengths

Concession LicenseTwo Sided NetworkPhysical Network DensityBrand TrustDe Facto StandardBenchmark Pricing PowerData Workflow LockinLong Term Contracts

Northrop Grumman Corporation strengths

Government Contracting RelationshipsDesign In QualificationCapacity MoatSwitching Costs GeneralCapex Knowhow Scale

Segment mix

Nasdaq, Inc. segments

Full profile >

Market Services

Competitive

21.9%

Capital Access Platforms

Oligopoly

42.4%

Financial Technology

Competitive

35.6%

Northrop Grumman Corporation segments

Full profile >

Aeronautics Systems

Oligopoly

28.7%

Defense Systems

Oligopoly

18.8%

Mission Systems

Oligopoly

24.9%

Space Systems

Oligopoly

27.6%

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.