VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Tokyo Electron Limited vs ASX Limited

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

ASX Limited

ASX · ASX

Market cap (USD)
SectorFinancials
CountryAU
Data as of2025-12-28
Moat score
80/ 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 ASX Limited's moat claims, evidence, and risks.

View ASX analysis

Comparison highlights

  • Moat score gap: Tokyo Electron Limited leads (86 / 100 vs 80 / 100 for ASX Limited).
  • Segment focus: Tokyo Electron Limited has 3 segments; ASX Limited has 4 segments (31.5% in Markets).
  • Primary market structure: Quasi-Monopoly vs Duopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Tokyo Electron Limited has 5 moat types across 2 domains; ASX Limited has 4 across 3.

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)

ASX Limited

Markets

Market

Trading venues for Australian cash equities and exchange-traded derivatives (futures, options)

Geography

Australia

Customer

Brokers/market participants, proprietary trading firms, institutional investors

Role

Market operator / trading venue

Revenue share

31.5%

Side-by-side metrics

Tokyo Electron Limited
ASX Limited
Ticker / Exchange
8035 - Tokyo Stock Exchange
ASX - ASX
Market cap (USD)
$100.5B
n/a
Sector
Technology
Financials
HQ country
JP
AU
Primary segment
Coater/Developer (Lithography Track) Systems
Markets
Market structure
Quasi-Monopoly
Duopoly
Market share
88%-92% (reported)
80%-84% (reported)
HHI estimate
n/a
6,500
Pricing power
Strong
Moderate
Moat score
86 / 100
80 / 100
Moat domains
Demand, Supply
Legal, Network, Demand
Last update
2025-12-29
2025-12-28

Moat coverage

Shared moat types

No overlap yet.

Tokyo Electron Limited strengths

Design In QualificationCapex Knowhow ScaleLearning Curve YieldInstalled Base ConsumablesService Field Network

ASX Limited strengths

Concession LicenseTwo Sided NetworkData Workflow LockinSwitching 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

ASX Limited segments

Full profile >

Listings

Quasi-Monopoly

18.8%

Markets

Duopoly

31.5%

Technology & Data

Competitive

24.9%

Securities & Payments

Monopoly

24.8%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.