VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

The Charles Schwab Corporation vs Tradeweb Markets Inc.

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

The Charles Schwab Corporation

SCHW · New York Stock Exchange

Market cap (USD)$188.7B
Gross margin (TTM)84.4%
Operating margin (TTM)39%
Net margin (TTM)30.3%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2025-12-26
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 The Charles Schwab Corporation's moat claims, evidence, and risks.

View SCHW 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: The Charles Schwab Corporation leads (74 / 100 vs 70 / 100 for Tradeweb Markets Inc.).
  • Segment focus: The Charles Schwab Corporation has 2 segments (79.4% in Investor Services); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: The Charles Schwab Corporation has 7 moat types across 4 domains; Tradeweb Markets Inc. has 7 across 4.

Primary market context

The Charles Schwab Corporation

Investor Services

Market

U.S. retail brokerage, self-directed investing, and wealth management platforms

Geography

United States

Customer

Retail investors, employers, retirement plan sponsors

Role

Broker-dealer + bank + wealth manager platform

Revenue share

79.4%

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

The Charles Schwab Corporation
Tradeweb Markets Inc.
Ticker / Exchange
SCHW - New York Stock Exchange
TW - Nasdaq Global Select Market
Market cap (USD)
$188.7B
$23.6B
Gross margin (TTM)
84.4%
66.7%
Operating margin (TTM)
39%
40.3%
Net margin (TTM)
30.3%
31.6%
Sector
Financials
Financials
Industry
Financial - Capital Markets
Financial - Capital Markets
HQ country
US
US
Primary segment
Investor Services
Rates
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
74 / 100
70 / 100
Moat domains
Supply, Demand, Financial, Network
Network, Demand, Legal, Supply
Last update
2025-12-26
2026-01-06

Moat coverage

Shared moat types

Brand TrustData Workflow LockinEcosystem Complements

The Charles Schwab Corporation strengths

Scale Economies Unit CostSuite BundlingFloat PrepaymentService Field Network

Tradeweb Markets Inc. strengths

Two Sided NetworkCompliance AdvantageLong Term ContractsScope Economies

Segment mix

The Charles Schwab Corporation segments

Full profile >

Investor Services

Oligopoly

79.4%

Advisor Services

Oligopoly

20.6%

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?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.