VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Keyence Corporation vs Fastenal Company

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

Keyence Corporation

6861.T · Tokyo Stock Exchange

Market cap (USD)$87.6B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryJP
Data as of2026-01-02
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 Keyence Corporation's moat claims, evidence, and risks.

View 6861.T analysis

Fastenal Company

FAST · Nasdaq Stock Market

Market cap (USD)$46.4B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-01
Moat score
60/ 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 Fastenal Company's moat claims, evidence, and risks.

View FAST analysis

Comparison highlights

  • Moat score gap: Keyence Corporation leads (73 / 100 vs 60 / 100 for Fastenal Company).
  • Segment focus: Keyence Corporation has 3 segments; Fastenal Company has 3 segments (54.5% in Branch-based distribution (in-market branches)).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Weak.
  • Moat breadth: Keyence Corporation has 7 moat types across 2 domains; Fastenal Company has 5 across 2.

Primary market context

Keyence Corporation

Sensors & Safety/Static Control

Market

Industrial sensors and safety/static control for factory automation

Geography

Global

Customer

Manufacturers (production/automation teams) and machine builders

Role

Component OEM and application-solution provider

Fastenal Company

Branch-based distribution (in-market branches)

Market

Industrial & construction supplies distribution (MRO/OEM consumables) via local branches

Geography

North America (primary) + select international

Customer

B2B

Role

Distributor / MRO supplier

Revenue share

54.5%

Side-by-side metrics

Keyence Corporation
Fastenal Company
Ticker / Exchange
6861.T - Tokyo Stock Exchange
FAST - Nasdaq Stock Market
Market cap (USD)
$87.6B
$46.4B
Gross margin (TTM)
n/a
n/a
Operating margin (TTM)
n/a
n/a
Net margin (TTM)
n/a
n/a
Sector
Technology
Industrials
Industry
n/a
Industrial - Distribution
HQ country
JP
US
Primary segment
Sensors & Safety/Static Control
Branch-based distribution (in-market branches)
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
73 / 100
60 / 100
Moat domains
Supply, Demand
Supply, Demand
Last update
2026-01-02
2026-01-01

Moat coverage

Shared moat types

Operational ExcellenceScope Economies

Keyence Corporation strengths

Service Field NetworkDesign In QualificationLearning Curve YieldDistribution ControlBrand Trust

Fastenal Company strengths

Physical Network DensitySwitching Costs GeneralData Workflow Lockin

Segment mix

Keyence Corporation segments

Full profile >

Sensors & Safety/Static Control

Oligopoly

n/a

Machine Vision, Code Reading & Laser Marking

Oligopoly

n/a

Metrology & Microscopes

Oligopoly

n/a

Fastenal Company segments

Full profile >

Branch-based distribution (in-market branches)

Competitive

54.5%

Onsite solutions (embedded customer locations)

Competitive

42.4%

Other / non-traditional sales (services & custom manufacturing)

Competitive

3.1%

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.