VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Advantech Co., Ltd. vs TC Energy Corporation

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

Advantech Co., Ltd.

2395 · Taiwan Stock Exchange

Market cap (USD)$247.5B
Gross margin (TTM)39.8%
Operating margin (TTM)16.2%
Net margin (TTM)14.6%
SectorTechnology
IndustryComputer Hardware
CountryTW
Data as of2025-12-28
Moat score
62/ 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 Advantech Co., Ltd.'s moat claims, evidence, and risks.

View 2395 analysis

TC Energy Corporation

TRP · New York Stock Exchange

Market cap (USD)$37B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorEnergy
Industry
CountryCA
Data as of2026-01-02
Moat score
80/ 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 TC Energy Corporation's moat claims, evidence, and risks.

View TRP analysis

Comparison highlights

  • Moat score gap: TC Energy Corporation leads (80 / 100 vs 62 / 100 for Advantech Co., Ltd.).
  • Segment focus: Advantech Co., Ltd. has 3 segments (49% in Industrial Computer and Industrial Control); TC Energy Corporation has 4 segments (46.1% in U.S. Natural Gas Pipelines).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Weak.
  • Moat breadth: Advantech Co., Ltd. has 5 moat types across 3 domains; TC Energy Corporation has 4 across 3.

Primary market context

Advantech Co., Ltd.

Industrial Computer and Industrial Control

Market

Industrial PCs and industrial control computing (industrial automation, edge industrial computing)

Geography

Global

Customer

Industrial enterprises, system integrators, and industrial OEMs

Role

Industrial computing OEM + solution integrator

Revenue share

49%

TC Energy Corporation

U.S. Natural Gas Pipelines

Market

U.S. interstate natural gas pipeline transportation (FERC-regulated)

Geography

United States

Customer

Utilities/LDCs, power generators, LNG/export facilities, industrial users and marketers (as shippers)

Role

Midstream pipeline operator

Revenue share

46.1%

Side-by-side metrics

Advantech Co., Ltd.
TC Energy Corporation
Ticker / Exchange
2395 - Taiwan Stock Exchange
TRP - New York Stock Exchange
Market cap (USD)
$247.5B
$37B
Gross margin (TTM)
39.8%
n/a
Operating margin (TTM)
16.2%
n/a
Net margin (TTM)
14.6%
n/a
Sector
Technology
Energy
Industry
Computer Hardware
n/a
HQ country
TW
CA
Primary segment
Industrial Computer and Industrial Control
U.S. Natural Gas Pipelines
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
62 / 100
80 / 100
Moat domains
Demand, Supply, Network
Legal, Demand, Supply
Last update
2025-12-28
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Advantech Co., Ltd. strengths

Design In QualificationService Field NetworkEcosystem ComplementsData Workflow LockinInstalled Base Consumables

TC Energy Corporation strengths

Regulated Standards PipeLong Term ContractsPhysical Network DensityGovernment Contracting Relationships

Segment mix

Advantech Co., Ltd. segments

Full profile >

Industrial Computer and Industrial Control

Competitive

49%

Embedded Boards and Chassis

Competitive

41%

After-sales Service and Others

Competitive

10%

TC Energy Corporation segments

Full profile >

Canadian Natural Gas Pipelines

Quasi-Monopoly

40.7%

U.S. Natural Gas Pipelines

Oligopoly

46.1%

Mexico Natural Gas Pipelines

Oligopoly

6.3%

Power and Energy Solutions

Competitive

6.9%

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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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.