VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Taiwan Semiconductor Manufacturing Company Limited vs Spirax Group plc

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)
SectorTechnology
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

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$6.7B
SectorIndustrials
CountryGB
Data as of2025-12-28
Moat score
71/ 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 Spirax Group plc's moat claims, evidence, and risks.

View SPX analysis

Comparison highlights

  • Moat score gap: Taiwan Semiconductor Manufacturing Company Limited leads (92 / 100 vs 71 / 100 for Spirax Group plc).
  • Segment focus: Taiwan Semiconductor Manufacturing Company Limited has 3 segments (74% in Leading-edge Foundry (7nm and below)); Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions).
  • 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; Spirax Group plc has 6 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%

Spirax Group plc

Steam Thermal Solutions

Market

Industrial and commercial steam systems (condensate management, controls, thermal energy management products and solutions)

Geography

Global

Customer

Industrial process operators and commercial facility operators

Role

OEM / solutions provider

Revenue share

52.1%

Side-by-side metrics

Taiwan Semiconductor Manufacturing Company Limited
Spirax Group plc
Ticker / Exchange
2330 - Taiwan Stock Exchange
SPX - London Stock Exchange
Market cap (USD)
n/a
$6.7B
Sector
Technology
Industrials
HQ country
TW
GB
Primary segment
Leading-edge Foundry (7nm and below)
Steam Thermal Solutions
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
71 / 100
Moat domains
Supply, Network, Demand, Financial
Supply, Demand
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

Capex Knowhow ScaleDesign In Qualification

Taiwan Semiconductor Manufacturing Company Limited strengths

Ecosystem ComplementsBenchmark Pricing PowerScope EconomiesOperational ExcellenceKeystone Component

Spirax Group plc strengths

Service Field NetworkInstalled Base ConsumablesBrand TrustSuite Bundling

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

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

52.1%

Electric Thermal Solutions

Competitive

24.3%

Watson-Marlow Fluid Technology Solutions

Oligopoly

23.6%

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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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.