VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Keyence Corporation vs Lam Research Corporation

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

Lam Research Corporation

LRCX · NASDAQ

Market cap (USD)$225.8B
Gross margin (TTM)49.3%
Operating margin (TTM)33%
Net margin (TTM)29.7%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2025-12-29
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 Lam Research Corporation's moat claims, evidence, and risks.

View LRCX analysis

Comparison highlights

  • Moat score: both at 73 / 100.
  • Segment focus: Keyence Corporation has 3 segments; Lam Research Corporation has 2 segments (62.3% in Systems).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Keyence Corporation has 7 moat types across 2 domains; Lam Research Corporation has 6 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

Lam Research Corporation

Systems

Market

Wafer fabrication equipment (etch, deposition, clean and related wafer processing tools)

Geography

Global

Customer

Semiconductor manufacturers (memory, foundry, logic/IDM)

Role

Equipment OEM

Revenue share

62.3%

Side-by-side metrics

Keyence Corporation
Lam Research Corporation
Ticker / Exchange
6861.T - Tokyo Stock Exchange
LRCX - NASDAQ
Market cap (USD)
$87.6B
$225.8B
Gross margin (TTM)
n/a
49.3%
Operating margin (TTM)
n/a
33%
Net margin (TTM)
n/a
29.7%
Sector
Technology
Technology
Industry
n/a
Semiconductors
HQ country
JP
US
Primary segment
Sensors & Safety/Static Control
Systems
Market structure
Oligopoly
Oligopoly
Market share
n/a
8%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
73 / 100
73 / 100
Moat domains
Supply, Demand
Demand, Supply
Last update
2026-01-02
2025-12-29

Moat coverage

Shared moat types

Service Field NetworkDesign In QualificationLearning Curve Yield

Keyence Corporation strengths

Operational ExcellenceDistribution ControlScope EconomiesBrand Trust

Lam Research Corporation strengths

Capex Knowhow ScaleInstalled Base ConsumablesData 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

Lam Research Corporation segments

Full profile >

Systems

Oligopoly

62.3%

Customer Support Business Group (CSBG)

Quasi-Monopoly

37.7%

Want the full wide moat stocks list?

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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.