VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 9, 2026

Stock Comparison

Tokyo Electron Limited vs Atlas Copco AB (publ)

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)$17.1T
Gross margin (TTM)46.6%
Operating margin (TTM)27.6%
Net margin (TTM)21.8%
SectorTechnology
IndustrySemiconductors
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

Atlas Copco AB (publ)

ATCO-A · Nasdaq Stockholm

Market cap (USD)$839.9B
Gross margin (TTM)42.7%
Operating margin (TTM)21%
Net margin (TTM)16.1%
SectorIndustrials
IndustryIndustrial - Machinery
CountrySE
Data as of2026-01-05
Moat score
63/ 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 Atlas Copco AB (publ)'s moat claims, evidence, and risks.

View ATCO-A analysis

Comparison highlights

  • Moat score gap: Tokyo Electron Limited leads (86 / 100 vs 63 / 100 for Atlas Copco AB (publ)).
  • Segment focus: Tokyo Electron Limited has 3 segments; Atlas Copco AB (publ) has 4 segments (43.8% in Compressor Technique).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Tokyo Electron Limited has 5 moat types across 2 domains; Atlas Copco AB (publ) 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)

Atlas Copco AB (publ)

Compressor Technique

Market

Industrial compressors, air/gas systems (including air treatment) and related aftermarket service

Geography

Global

Customer

Industrial and process customers; distributors; service-contract customers

Role

Equipment OEM + aftermarket service provider

Revenue share

43.8%

Side-by-side metrics

Tokyo Electron Limited
Atlas Copco AB (publ)
Ticker / Exchange
8035 - Tokyo Stock Exchange
ATCO-A - Nasdaq Stockholm
Market cap (USD)
$17.1T
$839.9B
Gross margin (TTM)
46.6%
42.7%
Operating margin (TTM)
27.6%
21%
Net margin (TTM)
21.8%
16.1%
Sector
Technology
Industrials
Industry
Semiconductors
Industrial - Machinery
HQ country
JP
SE
Primary segment
Coater/Developer (Lithography Track) Systems
Compressor Technique
Market structure
Quasi-Monopoly
Oligopoly
Market share
88%-92% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
86 / 100
63 / 100
Moat domains
Demand, Supply
Supply, Demand
Last update
2025-12-29
2026-01-05

Moat coverage

Shared moat types

Design In QualificationLearning Curve YieldInstalled Base ConsumablesService Field Network

Tokyo Electron Limited strengths

Capex Knowhow Scale

Atlas Copco AB (publ) strengths

Data Workflow LockinCapacity Moat

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

Atlas Copco AB (publ) segments

Full profile >

Compressor Technique

Oligopoly

43.8%

Vacuum Technique

Oligopoly

22.9%

Industrial Technique

Oligopoly

16.7%

Power Technique

Competitive

16.7%

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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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.