VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Nasdaq, Inc. vs Roper Technologies, Inc.

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

Roper Technologies, Inc.

ROP · The Nasdaq Stock Market LLC

Market cap (USD)$48.5B
SectorTechnology
CountryUS
Data as of2025-12-30
Moat score
67/ 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 Roper Technologies, Inc.'s moat claims, evidence, and risks.

View ROP analysis

Comparison highlights

  • Moat score gap: Nasdaq, Inc. leads (76 / 100 vs 67 / 100 for Roper Technologies, Inc.).
  • Segment focus: Nasdaq, Inc. has 3 segments (42.4% in Capital Access Platforms); Roper Technologies, Inc. has 3 segments (55% in Application Software).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Nasdaq, Inc. has 9 moat types across 5 domains; Roper Technologies, Inc. has 7 across 4.

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%

Roper Technologies, Inc.

Application Software

Market

Vertical application software for niche end markets

Geography

Global

Customer

Businesses, institutions, and public-sector organizations

Role

Software vendor (SaaS, subscriptions, and related services)

Revenue share

55%

Side-by-side metrics

Nasdaq, Inc.
Roper Technologies, Inc.
Ticker / Exchange
NDAQ - NASDAQ
ROP - The Nasdaq Stock Market LLC
Market cap (USD)
n/a
$48.5B
Sector
Financials
Technology
HQ country
US
US
Primary segment
Capital Access Platforms
Application Software
Market structure
Oligopoly
Oligopoly
Market share
80%-84% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
76 / 100
67 / 100
Moat domains
Legal, Network, Supply, Demand, Financial
Demand, Legal, Financial, Network
Last update
2025-12-31
2025-12-30

Moat coverage

Shared moat types

Two Sided NetworkData Workflow LockinCompliance Advantage

Nasdaq, Inc. strengths

Concession LicensePhysical Network DensityBrand TrustDe Facto StandardBenchmark Pricing PowerLong Term Contracts

Roper Technologies, Inc. strengths

Negative Working CapitalData Network EffectsDesign In QualificationSwitching Costs General

Segment mix

Nasdaq, Inc. segments

Full profile >

Market Services

Competitive

21.9%

Capital Access Platforms

Oligopoly

42.4%

Financial Technology

Competitive

35.6%

Roper Technologies, Inc. segments

Full profile >

Application Software

Oligopoly

55%

Network Software

Oligopoly

21%

Technology Enabled Products

Competitive

24.1%

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

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.