VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

HOYA Corporation vs Spirax Group plc

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

HOYA Corporation

7741 · Tokyo Stock Exchange

Market cap (USD)$23.6B
SectorHealthcare
CountryJP
Data as of2025-12-28
Moat score
72/ 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 HOYA Corporation's moat claims, evidence, and risks.

View 7741 analysis

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$6.7B
SectorIndustrials
CountryGB
Data as of2025-12-28
Moat score
71/ 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 Spirax Group plc's moat claims, evidence, and risks.

View SPX analysis

Comparison highlights

  • Moat score gap: HOYA Corporation leads (72 / 100 vs 71 / 100 for Spirax Group plc).
  • Segment focus: HOYA Corporation has 5 segments (48.2% in Eye Health Domain (healthcare-related products)); Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions).
  • Moat breadth: HOYA Corporation has 7 moat types across 3 domains; Spirax Group plc has 6 across 2.

Primary market context

HOYA Corporation

Eye Health Domain (healthcare-related products)

Market

Ophthalmic products (eyeglass lenses, contact lens retail, intraocular lenses)

Geography

Global (eyeglass lenses & IOL); Japan (contact lens retail)

Customer

Optical retailers, consumers, hospitals/clinics

Role

Manufacturer and retailer

Revenue share

48.2%

Spirax Group plc

Steam Thermal Solutions

Market

Industrial and commercial steam systems (condensate management, controls, thermal energy management products and solutions)

Geography

Global

Customer

Industrial process operators and commercial facility operators

Role

OEM / solutions provider

Revenue share

52.1%

Side-by-side metrics

HOYA Corporation
Spirax Group plc
Ticker / Exchange
7741 - Tokyo Stock Exchange
SPX - London Stock Exchange
Market cap (USD)
$23.6B
$6.7B
Sector
Healthcare
Industrials
HQ country
JP
GB
Primary segment
Eye Health Domain (healthcare-related products)
Steam Thermal Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
72 / 100
71 / 100
Moat domains
Demand, Supply, Legal
Supply, Demand
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

Brand TrustDesign In Qualification

HOYA Corporation strengths

Physical Network DensityCompliance AdvantageReputation ReviewsLearning Curve YieldNiche speech synthesis portfolio

Spirax Group plc strengths

Service Field NetworkInstalled Base ConsumablesCapex Knowhow ScaleSuite Bundling

Segment mix

HOYA Corporation segments

Full profile >

Eye Health Domain (healthcare-related products)

Oligopoly

48.2%

Med-Tech Domain (medical-related products)

Oligopoly

15.4%

Electronics-related products (semiconductor/display photomask materials, HDD substrates)

Oligopoly

30.6%

Imaging-related products (optical lenses and optical materials)

Competitive

5.3%

Other (speech synthesis software)

Competitive

0.5%

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

52.1%

Electric Thermal Solutions

Competitive

24.3%

Watson-Marlow Fluid Technology Solutions

Oligopoly

23.6%

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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.