VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Kubota Corporation vs Bentley Systems, Incorporated

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

Kubota Corporation

6326 · Tokyo Stock Exchange

Market cap (USD)$2.7T
Gross margin (TTM)29.9%
Operating margin (TTM)9%
Net margin (TTM)5.9%
SectorIndustrials
IndustryAgricultural - Machinery
CountryJP
Data as of2025-12-30
Moat score
73/ 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 Kubota Corporation's moat claims, evidence, and risks.

View 6326 analysis

Bentley Systems, Incorporated

BSY · NASDAQ

Market cap (USD)$12.5B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryUS
Data as of2026-01-10
Moat score
64/ 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 Bentley Systems, Incorporated's moat claims, evidence, and risks.

View BSY analysis

Comparison highlights

  • Moat score gap: Kubota Corporation leads (73 / 100 vs 64 / 100 for Bentley Systems, Incorporated).
  • Segment focus: Kubota Corporation has 3 segments (87.4% in Farm & Industrial Machinery); Bentley Systems, Incorporated has 4 segments.
  • Moat breadth: Kubota Corporation has 6 moat types across 3 domains; Bentley Systems, Incorporated has 7 across 2.

Primary market context

Kubota Corporation

Farm & Industrial Machinery

Market

Agricultural machinery and compact construction equipment (incl. compact/utility tractors, construction machinery, engines)

Geography

Global

Customer

Dealers and end users (farmers, contractors, municipalities)

Role

OEM

Revenue share

87.4%

Bentley Systems, Incorporated

Engineering Applications (Bentley Open)

Market

Infrastructure engineering design and simulation software (CAD/BIM for civil, rail, water, plants, and facilities)

Geography

Global

Customer

Engineering and construction firms; public and private infrastructure owner-operators

Role

Engineering authoring + analysis software vendor

Side-by-side metrics

Kubota Corporation
Bentley Systems, Incorporated
Ticker / Exchange
6326 - Tokyo Stock Exchange
BSY - NASDAQ
Market cap (USD)
$2.7T
$12.5B
Gross margin (TTM)
29.9%
n/a
Operating margin (TTM)
9%
n/a
Net margin (TTM)
5.9%
n/a
Sector
Industrials
Technology
Industry
Agricultural - Machinery
n/a
HQ country
JP
US
Primary segment
Farm & Industrial Machinery
Engineering Applications (Bentley Open)
Market structure
Oligopoly
Oligopoly
Market share
22%-28% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
73 / 100
64 / 100
Moat domains
Supply, Demand, Legal
Demand, Network
Last update
2025-12-30
2026-01-10

Moat coverage

Shared moat types

No overlap yet.

Kubota Corporation strengths

Service Field NetworkInstalled Base ConsumablesBrand TrustLong Term ContractsGovernment Contracting RelationshipsAdjacency moat from captive support services

Bentley Systems, Incorporated strengths

Training Org Change CostsSuite BundlingInteroperability HubData Workflow LockinProcurement InertiaDe Facto StandardEcosystem Complements

Segment mix

Kubota Corporation segments

Full profile >

Farm & Industrial Machinery

Oligopoly

87.4%

Water & Environment

Competitive

12%

Other

Competitive

0.6%

Bentley Systems, Incorporated segments

Full profile >

Engineering Applications (Bentley Open)

Oligopoly

n/a

Geoprofessional Applications (Seequent)

Oligopoly

n/a

Bentley Infrastructure Cloud (ProjectWise, SYNCHRO, AssetWise)

Oligopoly

n/a

Digital Twin Platform & Asset Analytics (Cesium, iTwin, Asset Analytics)

Competitive

n/a

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.