You can distribute the compiled Python bytecode (.pyc files) instead of the source. You can’t prevent decompilation in Python (or any other language, really). You could use an obfuscator like pyobfuscate to make it more annoying for competitors to decipher your decompiled source.
As Alex Martelli says in this thread, if you want to keep your code a secret, you shouldn’t run it on other people’s machines.
IIRC, the last time I used cx_Freeze it created a DLL for Windows that removed the necessity for a native Python installation. This is at least worth checking out.