VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

Tokyo Electron Limited vs Bio-Rad Laboratories, Inc.

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

Bio-Rad Laboratories, Inc.

BIO · New York Stock Exchange

Market cap (USD)
SectorHealthcare
CountryUS
Data as of2025-12-30
Moat score
61/ 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 Bio-Rad Laboratories, Inc.'s moat claims, evidence, and risks.

View BIO analysis

Comparison highlights

  • Moat score gap: Tokyo Electron Limited leads (86 / 100 vs 61 / 100 for Bio-Rad Laboratories, Inc.).
  • Segment focus: Tokyo Electron Limited has 3 segments; Bio-Rad Laboratories, Inc. has 2 segments (59.9% in Clinical Diagnostics).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Tokyo Electron Limited has 5 moat types across 2 domains; Bio-Rad Laboratories, Inc. has 6 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)

Bio-Rad Laboratories, Inc.

Clinical Diagnostics

Market

In vitro diagnostics test systems, reagents/test kits, informatics, and clinical laboratory quality controls

Geography

Global

Customer

Hospital laboratories; diagnostic reference laboratories; transfusion laboratories; physician office laboratories

Role

IVD OEM / installed-base consumables supplier (systems + kits + controls)

Revenue share

59.9%

Side-by-side metrics

Tokyo Electron Limited
Bio-Rad Laboratories, Inc.
Ticker / Exchange
8035 - Tokyo Stock Exchange
BIO - New York Stock Exchange
Market cap (USD)
$100.5B
n/a
Sector
Technology
Healthcare
HQ country
JP
US
Primary segment
Coater/Developer (Lithography Track) Systems
Clinical Diagnostics
Market structure
Quasi-Monopoly
Oligopoly
Market share
88%-92% (reported)
9%-11% (implied)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
86 / 100
61 / 100
Moat domains
Demand, Supply
Supply, Demand, Legal
Last update
2025-12-29
2025-12-30

Moat coverage

Shared moat types

Capex Knowhow ScaleInstalled Base Consumables

Tokyo Electron Limited strengths

Design In QualificationLearning Curve YieldService Field Network

Bio-Rad Laboratories, Inc. strengths

Scope EconomiesDistribution ControlSwitching Costs GeneralCompliance Advantage

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

Bio-Rad Laboratories, Inc. segments

Full profile >

Life Science

Competitive

40.1%

Clinical Diagnostics

Oligopoly

59.9%

Want the full wide moat stocks list?

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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.