VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, January 6, 2026

Stock Comparison

Nabtesco Corporation vs VINCI SA

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

Nabtesco Corporation

6268 · Tokyo Stock Exchange

Market cap (USD)$474.6B
Gross margin (TTM)28.7%
Operating margin (TTM)6.6%
Net margin (TTM)5.1%
SectorIndustrials
IndustryIndustrial - Machinery
CountryJP
Data as of2025-12-30
Moat score
91/ 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 Nabtesco Corporation's moat claims, evidence, and risks.

View 6268 analysis

VINCI SA

DG · Euronext Paris

Market cap (USD)$67.5B
Gross margin (TTM)16%
Operating margin (TTM)12.1%
Net margin (TTM)6.5%
SectorIndustrials
IndustryEngineering & Construction
CountryFR
Data as of2026-01-03
Moat score
57/ 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 VINCI SA's moat claims, evidence, and risks.

View DG analysis

Comparison highlights

  • Moat score gap: Nabtesco Corporation leads (91 / 100 vs 57 / 100 for VINCI SA).
  • Segment focus: Nabtesco Corporation has 4 segments (34.2% in Component Solutions Business); VINCI SA has 7 segments (44.4% in VINCI Construction).
  • Primary market structure: Quasi-Monopoly vs Competitive. Pricing power: Strong vs Weak.
  • Moat breadth: Nabtesco Corporation has 5 moat types across 3 domains; VINCI SA has 7 across 2.

Primary market context

Nabtesco Corporation

Component Solutions Business

Market

Precision reduction gears (RV reducers) for industrial robot joints

Geography

Global

Customer

Industrial robot manufacturers (OEMs)

Role

Precision motion-control component supplier

Revenue share

34.2%

VINCI SA

VINCI Construction

Market

Construction and civil engineering contracting (buildings, infrastructure and specialty networks)

Geography

Global

Customer

Public-sector project owners and private developers/industrial clients

Role

General contractor / civil engineering contractor

Revenue share

44.4%

Side-by-side metrics

Nabtesco Corporation
VINCI SA
Ticker / Exchange
6268 - Tokyo Stock Exchange
DG - Euronext Paris
Market cap (USD)
$474.6B
$67.5B
Gross margin (TTM)
28.7%
16%
Operating margin (TTM)
6.6%
12.1%
Net margin (TTM)
5.1%
6.5%
Sector
Industrials
Industrials
Industry
Industrial - Machinery
Engineering & Construction
HQ country
JP
FR
Primary segment
Component Solutions Business
VINCI Construction
Market structure
Quasi-Monopoly
Competitive
Market share
55%-65% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
91 / 100
57 / 100
Moat domains
Supply, Demand, Legal
Legal, Supply
Last update
2025-12-30
2026-01-03

Moat coverage

Shared moat types

Compliance AdvantageService Field Network

Nabtesco Corporation strengths

Learning Curve YieldDesign In QualificationBrand Trust

VINCI SA strengths

Concession LicensePermits Rights Of WayOperational ExcellenceCapex Knowhow ScaleCapacity Moat

Segment mix

Nabtesco Corporation segments

Full profile >

Component Solutions Business

Quasi-Monopoly

34.2%

Transport Solutions Business

Oligopoly

27.4%

Accessibility Solutions Business

Quasi-Monopoly

33%

Other Businesses

Quasi-Monopoly

5.4%

VINCI SA segments

Full profile >

VINCI Autoroutes

Monopoly

9.2%

VINCI Airports

Oligopoly

6.3%

Other concessions (incl. VINCI Highways and PPP assets)

Competitive

0.8%

VINCI Energies

Competitive

28.4%

Cobra IS

Competitive

9.9%

VINCI Construction

Competitive

44.4%

VINCI Immobilier

Competitive

1.6%

Want the full wide moat stocks list?

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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.