VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Keyence Corporation vs Games Workshop Group PLC

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)$13.9T
Gross margin (TTM)83.1%
Operating margin (TTM)51.2%
Net margin (TTM)37.6%
SectorTechnology
IndustryHardware, Equipment & Parts
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

Games Workshop Group PLC

GAW · London Stock Exchange

Market cap (USD)$6.2B
Gross margin (TTM)71.9%
Operating margin (TTM)41%
Net margin (TTM)30.4%
SectorConsumer
IndustryLeisure
CountryGB
Data as of2026-01-05
Moat score
87/ 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 Games Workshop Group PLC's moat claims, evidence, and risks.

View GAW analysis

Comparison highlights

  • Moat score gap: Games Workshop Group PLC leads (87 / 100 vs 73 / 100 for Keyence Corporation).
  • Segment focus: Keyence Corporation has 3 segments; Games Workshop Group PLC has 2 segments (91.5% in Core (Warhammer miniatures & hobby products)).
  • Moat breadth: Keyence Corporation has 7 moat types across 2 domains; Games Workshop Group PLC has 8 across 4.

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

Games Workshop Group PLC

Core (Warhammer miniatures & hobby products)

Market

Tabletop miniature wargaming and related hobby products

Geography

Global

Customer

Hobbyists/collectors (B2C) plus independent retailers (B2B)

Role

IP owner + designer/manufacturer + distributor + direct-to-consumer retail

Revenue share

91.5%

Side-by-side metrics

Keyence Corporation
Games Workshop Group PLC
Ticker / Exchange
6861.T - Tokyo Stock Exchange
GAW - London Stock Exchange
Market cap (USD)
$13.9T
$6.2B
Gross margin (TTM)
83.1%
71.9%
Operating margin (TTM)
51.2%
41%
Net margin (TTM)
37.6%
30.4%
Sector
Technology
Consumer
Industry
Hardware, Equipment & Parts
Leisure
HQ country
JP
GB
Primary segment
Sensors & Safety/Static Control
Core (Warhammer miniatures & hobby products)
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
73 / 100
87 / 100
Moat domains
Supply, Demand
Legal, Demand, Network, Supply
Last update
2026-01-02
2026-01-05

Moat coverage

Shared moat types

Service Field NetworkBrand Trust

Keyence Corporation strengths

Design In QualificationLearning Curve YieldOperational ExcellenceDistribution ControlScope Economies

Games Workshop Group PLC strengths

IP Choke PointEcosystem ComplementsSupply Chain ControlInstalled Base ConsumablesContent Rights CurrencyLong Term Contracts

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

Games Workshop Group PLC segments

Full profile >

Core (Warhammer miniatures & hobby products)

Oligopoly

91.5%

Licensing (Warhammer IP)

Monopoly

8.5%

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.