VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Wednesday, January 7, 2026

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Stock Comparison

Tradeweb Markets Inc. vs U.S. Bancorp

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

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

U.S. Bancorp

USB · New York Stock Exchange

Market cap (USD)$86.3B
Gross margin (TTM)61.1%
Operating margin (TTM)21.4%
Net margin (TTM)16.9%
SectorFinancials
IndustryBanks - Regional
CountryUS
Data as of2025-12-23
Moat score
62/ 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 U.S. Bancorp's moat claims, evidence, and risks.

View USB analysis

Comparison highlights

  • Moat score gap: Tradeweb Markets Inc. leads (70 / 100 vs 62 / 100 for U.S. Bancorp).
  • Segment focus: Tradeweb Markets Inc. has 6 segments (52.4% in Rates); U.S. Bancorp has 3 segments (42.8% in Wealth, Corporate, Commercial and Institutional Banking).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Tradeweb Markets Inc. has 7 moat types across 4 domains; U.S. Bancorp has 8 across 4.

Primary market context

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%

U.S. Bancorp

Wealth, Corporate, Commercial and Institutional Banking

Market

U.S. corporate, commercial, institutional and wealth banking & advisory services

Geography

United States

Customer

Commercial, institutional, government and wealth clients

Role

Bank / financial intermediary

Revenue share

42.8%

Side-by-side metrics

Tradeweb Markets Inc.
U.S. Bancorp
Ticker / Exchange
TW - Nasdaq Global Select Market
USB - New York Stock Exchange
Market cap (USD)
$23.6B
$86.3B
Gross margin (TTM)
66.7%
61.1%
Operating margin (TTM)
40.3%
21.4%
Net margin (TTM)
31.6%
16.9%
Sector
Financials
Financials
Industry
Financial - Capital Markets
Banks - Regional
HQ country
US
US
Primary segment
Rates
Wealth, Corporate, Commercial and Institutional Banking
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
70 / 100
62 / 100
Moat domains
Network, Demand, Legal, Supply
Demand, Supply, Legal, Financial
Last update
2026-01-06
2025-12-23

Moat coverage

Shared moat types

Data Workflow LockinCompliance AdvantageScope Economies

Tradeweb Markets Inc. strengths

Two Sided NetworkEcosystem ComplementsLong Term ContractsBrand Trust

U.S. Bancorp strengths

Physical Network DensityHabit DefaultCost Of Capital AdvantageScale Economies Unit CostSuite Bundling

Segment mix

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%

U.S. Bancorp segments

Full profile >

Wealth, Corporate, Commercial and Institutional Banking

Competitive

42.8%

Consumer and Business Banking

Oligopoly

32.5%

Payment Services

Oligopoly

24.7%

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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Looking for expansion-stage stocks?

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.