VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Tokyo Electron Limited vs Casey's General Stores, 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)$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

Casey's General Stores, Inc.

CASY · NASDAQ

Market cap (USD)$21B
Gross margin (TTM)23.4%
Operating margin (TTM)5.3%
Net margin (TTM)3.6%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2026-01-06
Moat score
54/ 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 Casey's General Stores, Inc.'s moat claims, evidence, and risks.

View CASY analysis

Comparison highlights

  • Moat score gap: Tokyo Electron Limited leads (86 / 100 vs 54 / 100 for Casey's General Stores, Inc.).
  • Segment focus: Tokyo Electron Limited has 3 segments; Casey's General Stores, Inc. has 4 segments (61.3% in Fuel).
  • Primary market structure: Quasi-Monopoly vs Competitive. Pricing power: Strong vs Weak.
  • Moat breadth: Tokyo Electron Limited has 5 moat types across 2 domains; Casey's General Stores, Inc. has 7 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)

Casey's General Stores, Inc.

Fuel

Market

Retail motor fuel sold through convenience-store fuel sites (gasoline and diesel)

Geography

United States (Casey's operating footprint; Midwest/South)

Customer

Motorists / consumers (in-store and pay-at-the-pump transactions)

Role

Fuel retailer (with some self-distribution/wholesale capabilities)

Revenue share

61.3%

Side-by-side metrics

Tokyo Electron Limited
Casey's General Stores, Inc.
Ticker / Exchange
8035 - Tokyo Stock Exchange
CASY - NASDAQ
Market cap (USD)
$17.1T
$21B
Gross margin (TTM)
46.6%
23.4%
Operating margin (TTM)
27.6%
5.3%
Net margin (TTM)
21.8%
3.6%
Sector
Technology
Consumer
Industry
Semiconductors
Specialty Retail
HQ country
JP
US
Primary segment
Coater/Developer (Lithography Track) Systems
Fuel
Market structure
Quasi-Monopoly
Competitive
Market share
88%-92% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
86 / 100
54 / 100
Moat domains
Demand, Supply
Demand, Supply
Last update
2025-12-29
2026-01-06

Moat coverage

Shared moat types

No overlap yet.

Tokyo Electron Limited strengths

Design In QualificationCapex Knowhow ScaleLearning Curve YieldInstalled Base ConsumablesService Field Network

Casey's General Stores, Inc. strengths

Brand TrustOperational ExcellencePhysical Network DensityDistribution ControlHabit DefaultSupply Chain ControlScope Economies

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

Casey's General Stores, Inc. segments

Full profile >

Prepared Food and Dispensed Beverage

Competitive

10.1%

Grocery and General Merchandise

Competitive

26%

Fuel

Competitive

61.3%

Other (wholesale fuel, car wash, lottery)

Competitive

2.6%

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.

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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.