VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

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Stock Comparison

HOYA Corporation vs Teqnion AB (publ)

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)$8.5T

Gross margin (TTM)80.1%

Operating margin (TTM)29.5%

Net margin (TTM)23.5%

SectorHealthcare

IndustryMedical - Instruments & Supplies

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

Teqnion AB (publ)

TEQ · Nasdaq First North Growth Market Sweden

Market cap (USD)$3.1B

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorFinancials

IndustryIndustrial - Distribution

CountrySE

Data as of2026-01-08

Moat score

47/ 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 Teqnion AB (publ)'s moat claims, evidence, and risks.

View TEQ analysis

Comparison highlights

Moat score gap: HOYA Corporation leads (72 / 100 vs 47 / 100 for Teqnion AB (publ)).
Segment focus: HOYA Corporation has 5 segments (48.2% in Eye Health Domain (healthcare-related products)); Teqnion AB (publ) has 4 segments.
Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs n/a.
Moat breadth: HOYA Corporation has 7 moat types across 3 domains; Teqnion AB (publ) has 8 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%

Teqnion AB (publ)

Acquisition & Portfolio Platform (Active, long-term ownership)

Market

Acquisition and long-term ownership of profitable niche industrial SMEs

Geography

Nordics, UK, Ireland

Customer

Business owners / sellers; subsidiary management teams

Role

Acquirer / holding company / active owner

Side-by-side metrics

HOYA Corporation

Teqnion AB (publ)

Ticker / Exchange

7741 - Tokyo Stock Exchange

TEQ - Nasdaq First North Growth Market Sweden

Market cap (USD)

$8.5T

$3.1B

Gross margin (TTM)

80.1%

n/a

Operating margin (TTM)

29.5%

n/a

Net margin (TTM)

23.5%

n/a

Sector

Healthcare

Financials

Industry

Medical - Instruments & Supplies

Industrial - Distribution

HQ country

Primary segment

Eye Health Domain (healthcare-related products)

Acquisition & Portfolio Platform (Active, long-term ownership)

Market structure

Oligopoly

Competitive

Market share

n/a

HHI estimate

n/a

Pricing power

Moderate

n/a

Moat score

72 / 100

47 / 100

Moat domains

Demand, Supply, Legal

Supply, Demand

Last update

2025-12-28

2026-01-08

Moat coverage

Shared moat types

Design In QualificationLearning Curve Yield

HOYA Corporation strengths

Brand TrustPhysical Network DensityCompliance AdvantageReputation ReviewsNiche speech synthesis portfolio

Teqnion AB (publ) strengths

Operational ExcellencePreferential Input AccessScope EconomiesDistribution ControlProcurement InertiaSwitching Costs General

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%

Teqnion AB (publ) segments

Full profile >

Acquisition & Portfolio Platform (Active, long-term ownership)

Competitive

n/a

Agency & Distribution Businesses

Competitive

n/a

Niche Product & Service Companies

Competitive

n/a

Manufacturing (Own-brand and Contract/OEM)

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.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.