VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Tokyo Electron Limited vs ASML Holding N.V.

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

Tokyo Electron Limited

8035 · Tokyo Stock Exchange

Market cap (USD)$100.5B
SectorTechnology
CountryJP
Data as of2025-12-29
Moat score
86/ 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 Tokyo Electron Limited's moat claims, evidence, and risks.

View 8035 analysis

ASML Holding N.V.

ASML · Euronext Amsterdam

Market cap (USD)$417.7B
SectorTechnology
CountryNL
Data as of2025-12-21
Moat score
76/ 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 ASML Holding N.V.'s moat claims, evidence, and risks.

View ASML analysis

Comparison highlights

  • Moat score gap: Tokyo Electron Limited leads (86 / 100 vs 76 / 100 for ASML Holding N.V.).
  • Segment focus: Tokyo Electron Limited has 3 segments; ASML Holding N.V. has 3 segments (23% in Installed Base Management (service, upgrades, field options)).
  • Moat breadth: Tokyo Electron Limited has 5 moat types across 2 domains; ASML Holding N.V. has 6 across 2.

Primary market context

Tokyo Electron Limited

Coater/Developer (Lithography Track) Systems

Market

Coater/developer track systems for semiconductor lithography

Geography

Global

Customer

Semiconductor fabs

Role

Equipment OEM (process tool)

ASML Holding N.V.

Installed Base Management (service, upgrades, field options)

Market

Service, upgrades and field options for installed ASML lithography tools

Geography

Global

Customer

Owners/operators of ASML lithography systems

Role

Aftermarket service provider

Revenue share

23%

Side-by-side metrics

Tokyo Electron Limited
ASML Holding N.V.
Ticker / Exchange
8035 - Tokyo Stock Exchange
ASML - Euronext Amsterdam
Market cap (USD)
$100.5B
$417.7B
Sector
Technology
Technology
HQ country
JP
NL
Primary segment
Coater/Developer (Lithography Track) Systems
Installed Base Management (service, upgrades, field options)
Market structure
Quasi-Monopoly
Quasi-Monopoly
Market share
88%-92% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
86 / 100
76 / 100
Moat domains
Demand, Supply
Supply, Demand
Last update
2025-12-29
2025-12-21

Moat coverage

Shared moat types

Capex Knowhow ScaleInstalled Base ConsumablesService Field Network

Tokyo Electron Limited strengths

Design In QualificationLearning Curve Yield

ASML Holding N.V. strengths

Supply Chain ControlBrand TrustSwitching Costs General

Segment mix

Tokyo Electron Limited segments

Full profile >

Coater/Developer (Lithography Track) Systems

Quasi-Monopoly

n/a

Wafer Fab Process Tools (Etch/Cleaning/Deposition/Thermal/Bonding/Probing)

Oligopoly

n/a

Field Solutions (Spare Parts, Repairs, Upgrades, On-site Service, Used Tools)

Quasi-Monopoly

n/a

ASML Holding N.V. segments

Full profile >

EUV lithography systems (incl. High-NA)

Monopoly

n/a

DUV lithography systems

Oligopoly

n/a

Installed Base Management (service, upgrades, field options)

Quasi-Monopoly

23%

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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.