VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Sanofi vs Tradeweb Markets Inc.

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

Sanofi

SAN · Euronext Paris

Market cap (USD)$99.5B
Gross margin (TTM)72%
Operating margin (TTM)18.7%
Net margin (TTM)20.2%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryFR
Data as of2025-12-30
Moat score
74/ 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 Sanofi's moat claims, evidence, and risks.

View SAN 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: Sanofi leads (74 / 100 vs 70 / 100 for Tradeweb Markets Inc.).
  • Segment focus: Sanofi has 3 segments (79.8% in Pharma (Prescription Medicines)); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Moat breadth: Sanofi has 5 moat types across 3 domains; Tradeweb Markets Inc. has 7 across 4.

Primary market context

Sanofi

Pharma (Prescription Medicines)

Market

Branded prescription pharmaceuticals (immunology, rare disease, neurology, oncology, general medicines)

Geography

Global

Customer

Patients via payers/providers and channel partners (wholesalers, pharmacies, hospitals)

Role

Research-based drug developer, manufacturer, and marketer

Revenue share

79.8%

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

Sanofi
Tradeweb Markets Inc.
Ticker / Exchange
SAN - Euronext Paris
TW - Nasdaq Global Select Market
Market cap (USD)
$99.5B
$23.6B
Gross margin (TTM)
72%
66.7%
Operating margin (TTM)
18.7%
40.3%
Net margin (TTM)
20.2%
31.6%
Sector
Healthcare
Financials
Industry
Drug Manufacturers - General
Financial - Capital Markets
HQ country
FR
US
Primary segment
Pharma (Prescription Medicines)
Rates
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
70 / 100
Moat domains
Legal, Supply, Demand
Network, Demand, Legal, Supply
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Brand Trust

Sanofi strengths

Regulated Standards PipeIP Choke PointLearning Curve YieldDistribution Control

Tradeweb Markets Inc. strengths

Two Sided NetworkData Workflow LockinCompliance AdvantageEcosystem ComplementsLong Term ContractsScope Economies

Segment mix

Sanofi segments

Full profile >

Pharma (Prescription Medicines)

Oligopoly

79.8%

Vaccines

Oligopoly

20.2%

Opella (Consumer Healthcare - Sanofi minority stake)

Competitive

n/a

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.