VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Taiwan Semiconductor Manufacturing Company Limited vs Elevance Health, 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)$43.6T
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

Elevance Health, Inc.

ELV · New York Stock Exchange

Market cap (USD)$82.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
IndustryMedical - Healthcare Plans
CountryUS
Data as of2026-01-09
Moat score
74/ 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 Elevance Health, Inc.'s moat claims, evidence, and risks.

View ELV analysis

Comparison highlights

  • Moat score gap: Taiwan Semiconductor Manufacturing Company Limited leads (92 / 100 vs 74 / 100 for Elevance Health, Inc.).
  • Segment focus: Taiwan Semiconductor Manufacturing Company Limited has 3 segments (74% in Leading-edge Foundry (7nm and below)); Elevance Health, Inc. has 3 segments (85.2% in Health Benefits).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Taiwan Semiconductor Manufacturing Company Limited has 7 moat types across 4 domains; Elevance Health, Inc. has 8 across 3.

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%

Elevance Health, Inc.

Health Benefits

Market

U.S. health insurance and managed care

Geography

United States

Customer

Employers, individuals, and government programs

Role

Payer / managed care organization

Revenue share

85.2%

Side-by-side metrics

Taiwan Semiconductor Manufacturing Company Limited
Elevance Health, Inc.
Ticker / Exchange
2330 - Taiwan Stock Exchange
ELV - New York Stock Exchange
Market cap (USD)
$43.6T
$82.8B
Gross margin (TTM)
59%
n/a
Operating margin (TTM)
49.5%
n/a
Net margin (TTM)
43.7%
n/a
Sector
Technology
Healthcare
Industry
Semiconductors
Medical - Healthcare Plans
HQ country
TW
US
Primary segment
Leading-edge Foundry (7nm and below)
Health Benefits
Market structure
Quasi-Monopoly
Oligopoly
Market share
70%-72% (reported)
n/a
HHI estimate
5,165
n/a
Pricing power
Strong
Moderate
Moat score
92 / 100
74 / 100
Moat domains
Supply, Network, Demand, Financial
Legal, Demand, Supply
Last update
2025-12-28
2026-01-09

Moat coverage

Shared moat types

Scope Economies

Taiwan Semiconductor Manufacturing Company Limited strengths

Capex Knowhow ScaleEcosystem ComplementsDesign In QualificationBenchmark Pricing PowerOperational ExcellenceKeystone Component

Elevance Health, Inc. strengths

Concession LicenseBrand TrustScale Economies Unit CostGovernment Contracting RelationshipsData Workflow LockinSuite BundlingSwitching Costs General

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

Elevance Health, Inc. segments

Full profile >

Health Benefits

Oligopoly

85.2%

CarelonRx

Oligopoly

12.8%

Carelon Services

Competitive

1.9%

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.