VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Nasdaq, Inc. vs SS&C Technologies Holdings, Inc.

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

SS&C Technologies Holdings, Inc.

SSNC · NASDAQ

Market cap (USD)$21.2B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryUS
Data as of2026-01-11
Moat score
68/ 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 SS&C Technologies Holdings, Inc.'s moat claims, evidence, and risks.

View SSNC analysis

Comparison highlights

  • Moat score gap: Nasdaq, Inc. leads (76 / 100 vs 68 / 100 for SS&C Technologies Holdings, Inc.).
  • Segment focus: Nasdaq, Inc. has 3 segments (42.4% in Capital Access Platforms); SS&C Technologies Holdings, Inc. has 3 segments (82.3% in Software-enabled services).
  • Moat breadth: Nasdaq, Inc. has 9 moat types across 5 domains; SS&C Technologies Holdings, 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%

SS&C Technologies Holdings, Inc.

Software-enabled services

Market

Software-enabled outsourcing and subscription services for financial services and healthcare (fund administration, transfer agency, middle/back office BPO, managed IT)

Geography

Global

Customer

Financial services firms (asset/wealth managers, alternative managers, banks, insurers) and healthcare payers/administrators

Role

Service provider / outsourcer (SaaS + BPO)

Revenue share

82.3%

Side-by-side metrics

Nasdaq, Inc.
SS&C Technologies Holdings, Inc.
Ticker / Exchange
NDAQ - NASDAQ
SSNC - NASDAQ
Market cap (USD)
$56.4B
$21.2B
Gross margin (TTM)
41.1%
n/a
Operating margin (TTM)
27.2%
n/a
Net margin (TTM)
19.9%
n/a
Sector
Financials
Technology
Industry
Financial - Data & Stock Exchanges
n/a
HQ country
US
US
Primary segment
Capital Access Platforms
Software-enabled services
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
68 / 100
Moat domains
Legal, Network, Supply, Demand, Financial
Demand, Supply, Legal, Network
Last update
2025-12-31
2026-01-11

Moat coverage

Shared moat types

Two Sided NetworkData Workflow LockinCompliance AdvantageLong Term Contracts

Nasdaq, Inc. strengths

Concession LicensePhysical Network DensityBrand TrustDe Facto StandardBenchmark Pricing Power

SS&C Technologies Holdings, Inc. strengths

Scale Economies Unit CostSuite BundlingInteroperability Hub

Segment mix

Nasdaq, Inc. segments

Full profile >

Market Services

Competitive

21.9%

Capital Access Platforms

Oligopoly

42.4%

Financial Technology

Competitive

35.6%

SS&C Technologies Holdings, Inc. segments

Full profile >

Software-enabled services

Oligopoly

82.3%

License, maintenance and related

Oligopoly

17.7%

Funds network connectivity (Calastone)

Oligopoly

n/a

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.

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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.