VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Tokyo Electron Limited vs Pro Medicus 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)$15.7T
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

Pro Medicus Limited

PME · ASX

Market cap (USD)$15.5B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryAU
Data as of
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 Pro Medicus Limited's moat claims, evidence, and risks.

View PME analysis

Comparison highlights

  • Moat score gap: Tokyo Electron Limited leads (86 / 100 vs 80 / 100 for Pro Medicus Limited).
  • Segment focus: Tokyo Electron Limited has 3 segments; Pro Medicus Limited has 2 segments (92.5% in Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Strong.
  • Moat breadth: Tokyo Electron Limited has 5 moat types across 2 domains; Pro Medicus Limited 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)

Pro Medicus Limited

Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)

Market

Enterprise imaging / PACS and related modules for hospitals and integrated delivery networks (IDNs)

Geography

Primarily North America; also Europe and Australia

Customer

Hospitals, imaging centers, integrated delivery networks (IDNs)

Role

Healthcare IT software vendor / platform provider

Revenue share

92.5%

Side-by-side metrics

Tokyo Electron Limited
Pro Medicus Limited
Ticker / Exchange
8035 - Tokyo Stock Exchange
PME - ASX
Market cap (USD)
$15.7T
$15.5B
Gross margin (TTM)
46.6%
n/a
Operating margin (TTM)
27.6%
n/a
Net margin (TTM)
21.8%
n/a
Sector
Technology
Healthcare
Industry
Semiconductors
n/a
HQ country
JP
AU
Primary segment
Coater/Developer (Lithography Track) Systems
Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)
Market structure
Quasi-Monopoly
Oligopoly
Market share
88%-92% (reported)
55% (implied)
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
86 / 100
80 / 100
Moat domains
Demand, Supply
Demand, Supply
Last update
2025-12-29
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Tokyo Electron Limited strengths

Design In QualificationCapex Knowhow ScaleLearning Curve YieldInstalled Base ConsumablesService Field Network

Pro Medicus Limited strengths

Data Workflow LockinKeystone ComponentOperational ExcellenceSuite BundlingSwitching Costs GeneralLong Term Contracts

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

Pro Medicus Limited segments

Full profile >

Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)

Oligopoly

92.5%

Visage RIS (Radiology Information System) and Promedicus.net

Oligopoly

7.5%

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.