VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Verisk Analytics, Inc. vs TMX Group Limited

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

Verisk Analytics, Inc.

VRSK · NASDAQ Global Select Market

Market cap (USD)$30.8B
Gross margin (TTM)69.6%
Operating margin (TTM)44.5%
Net margin (TTM)30.4%
SectorIndustrials
IndustryConsulting Services
CountryUS
Data as of2025-12-30
Moat score
87/ 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 Verisk Analytics, Inc.'s moat claims, evidence, and risks.

View VRSK analysis

TMX Group Limited

X · Toronto Stock Exchange

Market cap (USD)$14.4B
Gross margin (TTM)59.3%
Operating margin (TTM)38.7%
Net margin (TTM)23.8%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryCA
Data as of2026-01-03
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 TMX Group Limited's moat claims, evidence, and risks.

View X analysis

Comparison highlights

  • Moat score gap: Verisk Analytics, Inc. leads (87 / 100 vs 70 / 100 for TMX Group Limited).
  • Segment focus: Verisk Analytics, Inc. has 2 segments (70.2% in Underwriting Solutions); TMX Group Limited has 9 segments (16.1% in Trayport energy trading workflow software and network).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Verisk Analytics, Inc. has 6 moat types across 3 domains; TMX Group Limited has 12 across 5.

Primary market context

Verisk Analytics, Inc.

Underwriting Solutions

Market

Property and casualty insurance underwriting content and analytics (forms and rules and loss costs, underwriting data and catastrophe and weather risk)

Geography

Primarily U.S. (with growing international offerings)

Customer

P&C insurers (personal and commercial lines)

Role

Insurance data and analytics and standards and content provider

Revenue share

70.2%

TMX Group Limited

Trayport energy trading workflow software and network

Market

Wholesale energy trading workflow software and network connectivity

Geography

Europe-centric, with global customers

Customer

Energy traders, brokers, exchanges/venues

Role

Interoperability hub / workflow platform

Revenue share

16.1%

Side-by-side metrics

Verisk Analytics, Inc.
TMX Group Limited
Ticker / Exchange
VRSK - NASDAQ Global Select Market
X - Toronto Stock Exchange
Market cap (USD)
$30.8B
$14.4B
Gross margin (TTM)
69.6%
59.3%
Operating margin (TTM)
44.5%
38.7%
Net margin (TTM)
30.4%
23.8%
Sector
Industrials
Financials
Industry
Consulting Services
Financial - Data & Stock Exchanges
HQ country
US
CA
Primary segment
Underwriting Solutions
Trayport energy trading workflow software and network
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
87 / 100
70 / 100
Moat domains
Network, Legal, Demand
Legal, Network, Demand, Supply, Financial
Last update
2025-12-30
2026-01-03

Moat coverage

Shared moat types

Compliance AdvantageData Workflow Lockin

Verisk Analytics, Inc. strengths

De Facto StandardEcosystem ComplementsFormat Lock InData Network Effects

TMX Group Limited strengths

Concession LicenseTwo Sided NetworkBrand TrustSwitching Costs GeneralScale Economies Unit CostClearing SettlementRegulated Standards PipeInteroperability HubDistribution ControlBenchmark Pricing Power

Segment mix

Verisk Analytics, Inc. segments

Full profile >

Underwriting Solutions

Oligopoly

70.2%

Claims Solutions

Oligopoly

29.8%

TMX Group Limited segments

Full profile >

TSX & TSXV listing and sustaining fees

Oligopoly

10.8%

Issuer services (TSX Trust and TMX Newsfile)

Competitive

7.9%

Equities and fixed income trading venues (TSX, TSXV, TSX Alpha, Shorcan)

Oligopoly

8.8%

Post-trade clearing, settlement and depository (CDS / CDSX)

Quasi-Monopoly

8.6%

Canadian listed derivatives trading and clearing (Montreal Exchange + CDCC, excl. BOX)

Quasi-Monopoly

12.9%

U.S. equity options exchange (BOX)

Competitive

9.6%

Trayport energy trading workflow software and network

Oligopoly

16.1%

TMX Datalinx market data and co-location

Quasi-Monopoly

15.8%

TMX VettaFi indexing, ETF analytics, and digital distribution

Oligopoly

9.5%

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.