VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Nasdaq, Inc. vs REA Group Ltd

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

Nasdaq, Inc.

NDAQ · NASDAQ

Market cap (USD)$56.4B
Gross margin (TTM)41.1%
Operating margin (TTM)27.2%
Net margin (TTM)19.9%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
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

REA Group Ltd

REA · ASX

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorCommunication Services
Industry
CountryAU
Data as of2026-01-09
Moat score
91/ 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 REA Group Ltd's moat claims, evidence, and risks.

View REA analysis

Comparison highlights

  • Moat score gap: REA Group Ltd leads (91 / 100 vs 76 / 100 for Nasdaq, Inc.).
  • Segment focus: Nasdaq, Inc. has 3 segments (42.4% in Capital Access Platforms); REA Group Ltd has 3 segments (87.5% in Australia - Property & Online Advertising).
  • Primary market structure: Oligopoly vs Duopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Nasdaq, Inc. has 9 moat types across 5 domains; REA Group Ltd 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%

REA Group Ltd

Australia - Property & Online Advertising

Market

Australian online property classifieds & digital real estate advertising (residential + commercial listings)

Geography

Australia

Customer

Real estate agents/agencies and developers (advertisers) + property seekers (consumers)

Role

Marketplace operator / media & advertising platform

Revenue share

87.5%

Side-by-side metrics

Nasdaq, Inc.
REA Group Ltd
Ticker / Exchange
NDAQ - NASDAQ
REA - ASX
Market cap (USD)
$56.4B
n/a
Gross margin (TTM)
41.1%
n/a
Operating margin (TTM)
27.2%
n/a
Net margin (TTM)
19.9%
n/a
Sector
Financials
Communication Services
Industry
Financial - Data & Stock Exchanges
n/a
HQ country
US
AU
Primary segment
Capital Access Platforms
Australia - Property & Online Advertising
Market structure
Oligopoly
Duopoly
Market share
80%-84% (reported)
78%-82% (implied)
HHI estimate
n/a
6,800
Pricing power
Moderate
Strong
Moat score
76 / 100
91 / 100
Moat domains
Legal, Network, Supply, Demand, Financial
Network, Demand, Supply
Last update
2025-12-31
2026-01-09

Moat coverage

Shared moat types

Two Sided NetworkBrand TrustData Workflow Lockin

Nasdaq, Inc. strengths

Concession LicensePhysical Network DensityDe Facto StandardBenchmark Pricing PowerCompliance AdvantageLong Term Contracts

REA Group Ltd strengths

Data Network EffectsDistribution ControlHabit Default

Segment mix

Nasdaq, Inc. segments

Full profile >

Market Services

Competitive

21.9%

Capital Access Platforms

Oligopoly

42.4%

Financial Technology

Competitive

35.6%

REA Group Ltd segments

Full profile >

Australia - Property & Online Advertising

Duopoly

87.5%

Australia - Financial Services

Competitive

4.8%

India - Online Property Classifieds

Oligopoly

7.7%

Want the full wide moat stocks list?

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

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.