VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

PepsiCo, Inc. vs Tradeweb Markets Inc.

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

PepsiCo, Inc.

PEP · Nasdaq Global Select Market

Market cap (USD)$191.3B
Gross margin (TTM)54.2%
Operating margin (TTM)14.3%
Net margin (TTM)7.8%
SectorConsumer
IndustryBeverages - Non-Alcoholic
CountryUS
Data as of2025-12-23
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 PepsiCo, Inc.'s moat claims, evidence, and risks.

View PEP analysis

Tradeweb Markets Inc.

TW · Nasdaq Global Select Market

Market cap (USD)$23.6B
Gross margin (TTM)66.7%
Operating margin (TTM)40.3%
Net margin (TTM)31.6%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2026-01-06
Moat score
70/ 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 Tradeweb Markets Inc.'s moat claims, evidence, and risks.

View TW analysis

Comparison highlights

  • Moat score gap: PepsiCo, Inc. leads (72 / 100 vs 70 / 100 for Tradeweb Markets Inc.).
  • Segment focus: PepsiCo, Inc. has 7 segments (27% in Frito-Lay North America (FLNA)); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Moat breadth: PepsiCo, Inc. has 4 moat types across 2 domains; Tradeweb Markets Inc. has 7 across 4.

Primary market context

PepsiCo, Inc.

Frito-Lay North America (FLNA)

Market

Branded convenient foods (salty snacks, dips and adjacent categories)

Geography

United States and Canada

Customer

Retailers, convenience stores, foodservice

Role

Branded manufacturer + distributor (DSD/warehouse/distributor networks)

Revenue share

27%

Tradeweb Markets Inc.

Rates

Market

Electronic dealer-to-client and all-to-all trading in rates (government bonds, mortgages/TBA MBS, interest rate swaps)

Geography

Global

Customer

Institutional, wholesale dealers, and retail via ATS

Role

Electronic marketplace / trading venue

Revenue share

52.4%

Side-by-side metrics

PepsiCo, Inc.
Tradeweb Markets Inc.
Ticker / Exchange
PEP - Nasdaq Global Select Market
TW - Nasdaq Global Select Market
Market cap (USD)
$191.3B
$23.6B
Gross margin (TTM)
54.2%
66.7%
Operating margin (TTM)
14.3%
40.3%
Net margin (TTM)
7.8%
31.6%
Sector
Consumer
Financials
Industry
Beverages - Non-Alcoholic
Financial - Capital Markets
HQ country
US
US
Primary segment
Frito-Lay North America (FLNA)
Rates
Market structure
Oligopoly
Oligopoly
Market share
54%-58% (implied)
n/a
HHI estimate
3,530
n/a
Pricing power
Moderate
Moderate
Moat score
72 / 100
70 / 100
Moat domains
Supply, Demand
Network, Demand, Legal, Supply
Last update
2025-12-23
2026-01-06

Moat coverage

Shared moat types

Brand TrustScope Economies

PepsiCo, Inc. strengths

Distribution ControlScale Economies Unit Cost

Tradeweb Markets Inc. strengths

Two Sided NetworkData Workflow LockinCompliance AdvantageEcosystem ComplementsLong Term Contracts

Segment mix

PepsiCo, Inc. segments

Full profile >

Frito-Lay North America (FLNA)

Oligopoly

27%

Quaker Foods North America (QFNA)

Competitive

4.2%

PepsiCo Beverages North America (PBNA)

Oligopoly

19.9%

Latin America (LatAm)

Oligopoly

12.3%

Europe

Oligopoly

22.4%

Africa, Middle East and South Asia (AMESA)

Competitive

8.8%

Asia Pacific, Australia & New Zealand and China Region (APAC)

Competitive

5.5%

Tradeweb Markets Inc. segments

Full profile >

Rates

Oligopoly

52.4%

Credit

Oligopoly

26.6%

Equities

Competitive

6%

Money Markets

Oligopoly

6.7%

Market Data

Competitive

6.8%

Other

Competitive

1.4%

Want the full wide moat stocks list?

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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.