VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Taiwan Semiconductor Manufacturing Company Limited vs Alimentation Couche-Tard Inc.

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

Taiwan Semiconductor Manufacturing Company Limited

2330 · Taiwan Stock Exchange

Market cap (USD)$44.2T
Gross margin (TTM)59%
Operating margin (TTM)49.5%
Net margin (TTM)43.7%
SectorTechnology
IndustrySemiconductors
CountryTW
Data as of2025-12-28
Moat score
92/ 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 Taiwan Semiconductor Manufacturing Company Limited's moat claims, evidence, and risks.

View 2330 analysis

Alimentation Couche-Tard Inc.

ATD · Toronto Stock Exchange

Market cap (USD)$70.7B
Gross margin (TTM)18.5%
Operating margin (TTM)5.3%
Net margin (TTM)3.6%
SectorConsumer
IndustrySpecialty Retail
CountryCA
Data as of2026-01-05
Moat score
58/ 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 Alimentation Couche-Tard Inc.'s moat claims, evidence, and risks.

View ATD analysis

Comparison highlights

  • Moat score gap: Taiwan Semiconductor Manufacturing Company Limited leads (92 / 100 vs 58 / 100 for Alimentation Couche-Tard Inc.).
  • Segment focus: Taiwan Semiconductor Manufacturing Company Limited has 3 segments (74% in Leading-edge Foundry (7nm and below)); Alimentation Couche-Tard Inc. has 3 segments (74% in Road transportation fuel (retail fuel and related mobility services)).
  • Primary market structure: Quasi-Monopoly vs Competitive. Pricing power: Strong vs Weak.
  • Moat breadth: Taiwan Semiconductor Manufacturing Company Limited has 7 moat types across 4 domains; Alimentation Couche-Tard Inc. has 5 across 2.

Primary market context

Taiwan Semiconductor Manufacturing Company Limited

Leading-edge Foundry (7nm and below)

Market

Leading-edge semiconductor foundry services (<=7nm logic process technologies)

Geography

Global

Customer

Fabless semiconductor companies, system companies, and IDMs

Role

Dedicated foundry / contract manufacturer

Revenue share

74%

Alimentation Couche-Tard Inc.

Road transportation fuel (retail fuel and related mobility services)

Market

Road transportation fuel retail (gasoline/diesel) at convenience sites; includes unmanned/automated fuel stations

Geography

North America and Europe (plus select other regions via the network)

Customer

Consumers and small fleets

Role

Fuel retailer and site operator

Revenue share

74%

Side-by-side metrics

Taiwan Semiconductor Manufacturing Company Limited
Alimentation Couche-Tard Inc.
Ticker / Exchange
2330 - Taiwan Stock Exchange
ATD - Toronto Stock Exchange
Market cap (USD)
$44.2T
$70.7B
Gross margin (TTM)
59%
18.5%
Operating margin (TTM)
49.5%
5.3%
Net margin (TTM)
43.7%
3.6%
Sector
Technology
Consumer
Industry
Semiconductors
Specialty Retail
HQ country
TW
CA
Primary segment
Leading-edge Foundry (7nm and below)
Road transportation fuel (retail fuel and related mobility services)
Market structure
Quasi-Monopoly
Competitive
Market share
70%-72% (reported)
n/a
HHI estimate
5,165
n/a
Pricing power
Strong
Weak
Moat score
92 / 100
58 / 100
Moat domains
Supply, Network, Demand, Financial
Supply, Demand
Last update
2025-12-28
2026-01-05

Moat coverage

Shared moat types

Scope EconomiesOperational Excellence

Taiwan Semiconductor Manufacturing Company Limited strengths

Capex Knowhow ScaleEcosystem ComplementsDesign In QualificationBenchmark Pricing PowerKeystone Component

Alimentation Couche-Tard Inc. strengths

Physical Network DensityBrand TrustSupply Chain Control

Segment mix

Taiwan Semiconductor Manufacturing Company Limited segments

Full profile >

Leading-edge Foundry (7nm and below)

Quasi-Monopoly

74%

Mature & Specialty Foundry (16nm and above + specialty processes)

Oligopoly

26%

Advanced Packaging & 3DFabric (CoWoS, InFO, SoIC)

Oligopoly

n/a

Alimentation Couche-Tard Inc. segments

Full profile >

Merchandise and services (in-store convenience retail)

Competitive

25.2%

Road transportation fuel (retail fuel and related mobility services)

Competitive

74%

Other revenues (ancillary energy and other income streams)

Competitive

0.8%

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.