VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

S&P Global Inc. vs Xero Limited

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

S&P Global Inc.

SPGI · New York Stock Exchange

Market cap (USD)$156.2B
Gross margin (TTM)70%
Operating margin (TTM)40.7%
Net margin (TTM)27.5%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2025-12-21
Moat score
77/ 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 S&P Global Inc.'s moat claims, evidence, and risks.

View SPGI analysis

Xero Limited

XRO · Australian Securities Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryNZ
Data as of2026-01-02
Moat score
71/ 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 Xero Limited's moat claims, evidence, and risks.

View XRO analysis

Comparison highlights

  • Moat score gap: S&P Global Inc. leads (77 / 100 vs 71 / 100 for Xero Limited).
  • Segment focus: S&P Global Inc. has 5 segments (32.6% in S&P Global Market Intelligence); Xero Limited has 2 segments.
  • Moat breadth: S&P Global Inc. has 9 moat types across 5 domains; Xero Limited has 7 across 3.

Primary market context

S&P Global Inc.

S&P Global Market Intelligence

Market

Financial market data, analytics, and workflow tools for institutions

Geography

Global

Customer

B2B (institutional investors, banks, insurers, corporates)

Role

Data/analytics and workflow software provider

Revenue share

32.6%

Xero Limited

Core Accounting Subscription Platform

Market

Cloud accounting software for small businesses and their advisors

Geography

Global

Customer

SMB; accountants & bookkeepers

Role

Software platform (SaaS)

Side-by-side metrics

S&P Global Inc.
Xero Limited
Ticker / Exchange
SPGI - New York Stock Exchange
XRO - Australian Securities Exchange
Market cap (USD)
$156.2B
n/a
Gross margin (TTM)
70%
n/a
Operating margin (TTM)
40.7%
n/a
Net margin (TTM)
27.5%
n/a
Sector
Financials
Technology
Industry
Financial - Data & Stock Exchanges
n/a
HQ country
US
NZ
Primary segment
S&P Global Market Intelligence
Core Accounting Subscription Platform
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
77 / 100
71 / 100
Moat domains
Demand, Supply, Legal, Network, Financial
Demand, Network, Financial
Last update
2025-12-21
2026-01-02

Moat coverage

Shared moat types

Data Workflow LockinSwitching Costs GeneralEcosystem ComplementsBenchmark Pricing Power

S&P Global Inc. strengths

Scope EconomiesRegulated Standards PipeBrand TrustDe Facto StandardCompliance Advantage

Xero Limited strengths

Two Sided NetworkInteroperability HubSuite Bundling

Segment mix

S&P Global Inc. segments

Full profile >

S&P Global Market Intelligence

Oligopoly

32.6%

S&P Global Ratings

Oligopoly

29.6%

S&P Global Commodity Insights

Oligopoly

15.1%

S&P Global Mobility

Competitive

11.3%

S&P Dow Jones Indices

Oligopoly

11.4%

Xero Limited segments

Full profile >

Core Accounting Subscription Platform

Oligopoly

n/a

Platform Services (Payments, Payroll, App Ecosystem)

Competitive

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

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.