VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Tokyo Electron Limited vs Teqnion 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)$17.4T
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

Teqnion AB (publ)

TEQ · Nasdaq First North Growth Market Sweden

Market cap (USD)$3.1B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
IndustryIndustrial - Distribution
CountrySE
Data as of2026-01-08
Moat score
47/ 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 Teqnion AB (publ)'s moat claims, evidence, and risks.

View TEQ analysis

Comparison highlights

  • Moat score gap: Tokyo Electron Limited leads (86 / 100 vs 47 / 100 for Teqnion AB (publ)).
  • Segment focus: Tokyo Electron Limited has 3 segments; Teqnion AB (publ) has 4 segments.
  • Primary market structure: Quasi-Monopoly vs Competitive. Pricing power: Strong vs n/a.
  • Moat breadth: Tokyo Electron Limited has 5 moat types across 2 domains; Teqnion AB (publ) has 8 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)

Teqnion AB (publ)

Acquisition & Portfolio Platform (Active, long-term ownership)

Market

Acquisition and long-term ownership of profitable niche industrial SMEs

Geography

Nordics, UK, Ireland

Customer

Business owners / sellers; subsidiary management teams

Role

Acquirer / holding company / active owner

Side-by-side metrics

Tokyo Electron Limited
Teqnion AB (publ)
Ticker / Exchange
8035 - Tokyo Stock Exchange
TEQ - Nasdaq First North Growth Market Sweden
Market cap (USD)
$17.4T
$3.1B
Gross margin (TTM)
46.6%
n/a
Operating margin (TTM)
27.6%
n/a
Net margin (TTM)
21.8%
n/a
Sector
Technology
Financials
Industry
Semiconductors
Industrial - Distribution
HQ country
JP
SE
Primary segment
Coater/Developer (Lithography Track) Systems
Acquisition & Portfolio Platform (Active, long-term ownership)
Market structure
Quasi-Monopoly
Competitive
Market share
88%-92% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
n/a
Moat score
86 / 100
47 / 100
Moat domains
Demand, Supply
Supply, Demand
Last update
2025-12-29
2026-01-08

Moat coverage

Shared moat types

Design In QualificationLearning Curve Yield

Tokyo Electron Limited strengths

Capex Knowhow ScaleInstalled Base ConsumablesService Field Network

Teqnion AB (publ) strengths

Operational ExcellencePreferential Input AccessScope EconomiesDistribution ControlProcurement InertiaSwitching 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

Teqnion AB (publ) segments

Full profile >

Acquisition & Portfolio Platform (Active, long-term ownership)

Competitive

n/a

Agency & Distribution Businesses

Competitive

n/a

Niche Product & Service Companies

Competitive

n/a

Manufacturing (Own-brand and Contract/OEM)

Competitive

n/a

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.