VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Wise plc vs TMX Group Limited

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

Wise plc

WISE · London Stock Exchange

Market cap (USD)$14.1B
Gross margin (TTM)56%
Operating margin (TTM)32.2%
Net margin (TTM)23.5%
SectorFinancials
IndustryInformation Technology Services
CountryGB
Data as of2026-04-24
Moat score
57/ 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 Wise plc's moat claims, evidence, and risks.

View WISE analysis

TMX Group Limited

X · Toronto Stock Exchange

Market cap (USD)$11.1B
Gross margin (TTM)42%
Operating margin (TTM)26.4%
Net margin (TTM)14.2%
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: TMX Group Limited leads (70 / 100 vs 57 / 100 for Wise plc).
  • Segment focus: Wise plc has 2 segments (74.7% in Personal international account and cross-border transfers); TMX Group Limited has 9 segments (16.1% in Trayport energy trading workflow software and network).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Wise plc has 6 moat types across 5 domains; TMX Group Limited has 12 across 5.

Primary market context

Wise plc

Personal international account and cross-border transfers

Market

Personal cross-border money movement, international account, card and multi-currency balance services

Geography

Global, across more than 160 countries and 40 currencies

Customer

Consumers, expatriates, travellers, migrants, freelancers and internationally active individuals

Role

Digital cross-border transfer, account, card, FX conversion and balance-management provider

Revenue share

74.7%

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

Wise plc
TMX Group Limited
Ticker / Exchange
WISE - London Stock Exchange
X - Toronto Stock Exchange
Market cap (USD)
$14.1B
$11.1B
Gross margin (TTM)
56%
42%
Operating margin (TTM)
32.2%
26.4%
Net margin (TTM)
23.5%
14.2%
Sector
Financials
Financials
Industry
Information Technology Services
Financial - Data & Stock Exchanges
HQ country
GB
CA
Primary segment
Personal international account and cross-border transfers
Trayport energy trading workflow software and network
Market structure
Competitive
Oligopoly
Market share
4.5%-5.5% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
57 / 100
70 / 100
Moat domains
Supply, Demand, Financial, Network, Legal
Legal, Network, Demand, Supply, Financial
Last update
2026-04-24
2026-01-03

Moat coverage

Shared moat types

Scale Economies Unit CostBrand TrustInteroperability HubData Workflow LockinCompliance Advantage

Wise plc strengths

Float Prepayment

TMX Group Limited strengths

Concession LicenseTwo Sided NetworkSwitching Costs GeneralClearing SettlementRegulated Standards PipeDistribution ControlBenchmark Pricing Power

Segment mix

Wise plc segments

Full profile >

Personal international account and cross-border transfers

Competitive

74.7%

Wise Business and Wise Platform

Competitive

25.3%

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.