VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 9, 2026

Stock Comparison

Nasdaq, Inc. vs Tesla, Inc.

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

Nasdaq, Inc.

NDAQ · NASDAQ

Market cap (USD)$56.5B
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

Tesla, Inc.

TSLA · NASDAQ

Market cap (USD)$1.5T
Gross margin (TTM)17%
Operating margin (TTM)4.7%
Net margin (TTM)5.5%
SectorConsumer
IndustryAuto - Manufacturers
CountryUS
Data as of2026-01-05
Moat score
75/ 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 Tesla, Inc.'s moat claims, evidence, and risks.

View TSLA analysis

Comparison highlights

  • Moat score gap: Nasdaq, Inc. leads (76 / 100 vs 75 / 100 for Tesla, Inc.).
  • Segment focus: Nasdaq, Inc. has 3 segments (42.4% in Capital Access Platforms); Tesla, Inc. has 3 segments (78.9% in Automotive (vehicles + software + leasing + regulatory credits)).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Nasdaq, Inc. has 9 moat types across 5 domains; Tesla, Inc. has 9 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%

Tesla, Inc.

Automotive (vehicles + software + leasing + regulatory credits)

Market

Battery-electric passenger vehicles (BEV) and connected vehicle software

Geography

United States (market share datapoint); global competition

Customer

Consumers and small fleets

Role

OEM (design, manufacture, direct-to-consumer sales)

Revenue share

78.9%

Side-by-side metrics

Nasdaq, Inc.
Tesla, Inc.
Ticker / Exchange
NDAQ - NASDAQ
TSLA - NASDAQ
Market cap (USD)
$56.5B
$1.5T
Gross margin (TTM)
41.1%
17%
Operating margin (TTM)
27.2%
4.7%
Net margin (TTM)
19.9%
5.5%
Sector
Financials
Consumer
Industry
Financial - Data & Stock Exchanges
Auto - Manufacturers
HQ country
US
US
Primary segment
Capital Access Platforms
Automotive (vehicles + software + leasing + regulatory credits)
Market structure
Oligopoly
Competitive
Market share
80%-84% (reported)
56.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
76 / 100
75 / 100
Moat domains
Legal, Network, Supply, Demand, Financial
Network, Supply, Demand
Last update
2025-12-31
2026-01-05

Moat coverage

Shared moat types

Physical Network DensityBrand TrustData Workflow Lockin

Nasdaq, Inc. strengths

Concession LicenseTwo Sided NetworkDe Facto StandardBenchmark Pricing PowerCompliance AdvantageLong Term Contracts

Tesla, Inc. strengths

Data Network EffectsCapex Knowhow ScaleService Field NetworkSwitching Costs GeneralScope EconomiesScale Economies Unit Cost

Segment mix

Nasdaq, Inc. segments

Full profile >

Market Services

Competitive

21.9%

Capital Access Platforms

Oligopoly

42.4%

Financial Technology

Competitive

35.6%

Tesla, Inc. segments

Full profile >

Automotive (vehicles + software + leasing + regulatory credits)

Competitive

78.9%

Services and Other (Supercharging + after-sales + used vehicles + insurance)

Quasi-Monopoly

10.8%

Energy Generation and Storage (Megapack + Powerwall + solar)

Oligopoly

10.3%

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.