VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Tradeweb Markets Inc. vs VeriSign, Inc.

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

VeriSign, Inc.

VRSN · Nasdaq Global Select Market

Market cap (USD)$22.2B
Gross margin (TTM)88%
Operating margin (TTM)67.6%
Net margin (TTM)49.9%
SectorTechnology
IndustrySoftware - Infrastructure
CountryUS
Data as of2025-12-31
Moat score
100/ 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 VeriSign, Inc.'s moat claims, evidence, and risks.

View VRSN analysis

Comparison highlights

  • Moat score gap: VeriSign, Inc. leads (100 / 100 vs 70 / 100 for Tradeweb Markets Inc.).
  • Segment focus: Tradeweb Markets Inc. has 6 segments (52.4% in Rates); VeriSign, Inc. has 1 segment (100% in Naming Services (.com and .net registry)).
  • Primary market structure: Oligopoly vs Monopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Tradeweb Markets Inc. has 7 moat types across 4 domains; VeriSign, Inc. has 4 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%

VeriSign, Inc.

Naming Services (.com and .net registry)

Market

Registry operator services for .com and .net top-level domains (domain registrations + authoritative DNS resolution)

Geography

Global

Customer

ICANN-accredited domain registrars (wholesale) and, indirectly, registrants

Role

Registry operator / DNS infrastructure provider

Revenue share

100%

Side-by-side metrics

Tradeweb Markets Inc.
VeriSign, Inc.
Ticker / Exchange
TW - Nasdaq Global Select Market
VRSN - Nasdaq Global Select Market
Market cap (USD)
$23.6B
$22.2B
Gross margin (TTM)
66.7%
88%
Operating margin (TTM)
40.3%
67.6%
Net margin (TTM)
31.6%
49.9%
Sector
Financials
Technology
Industry
Financial - Capital Markets
Software - Infrastructure
HQ country
US
US
Primary segment
Rates
Naming Services (.com and .net registry)
Market structure
Oligopoly
Monopoly
Market share
n/a
100% (reported)
HHI estimate
n/a
10,000
Pricing power
Moderate
Strong
Moat score
70 / 100
100 / 100
Moat domains
Network, Demand, Legal, Supply
Legal, Network, Supply, Financial
Last update
2026-01-06
2025-12-31

Moat coverage

Shared moat types

No overlap yet.

Tradeweb Markets Inc. strengths

Two Sided NetworkData Workflow LockinCompliance AdvantageEcosystem ComplementsLong Term ContractsBrand TrustScope Economies

VeriSign, Inc. strengths

Concession LicenseDe Facto StandardOperational ExcellenceFloat Prepayment

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%

VeriSign, Inc. segments

Full profile >

Naming Services (.com and .net registry)

Monopoly

100%

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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.