VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Axcelis Technologies, Inc. vs Constellation Software Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Axcelis Technologies, Inc.

ACLS · Nasdaq Global Select Market

Market cap (USD)$4.4B
Gross margin (TTM)44.9%
Operating margin (TTM)14.2%
Net margin (TTM)14.3%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2026-04-25
Moat score
64/ 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 Axcelis Technologies, Inc.'s moat claims, evidence, and risks.

View ACLS analysis

Constellation Software Inc.

CSU · Toronto Stock Exchange

Market cap (USD)$38.7B
Gross margin (TTM)47.1%
Operating margin (TTM)13.1%
Net margin (TTM)4.4%
SectorTechnology
IndustrySoftware - Application
CountryCA
Data as of2026-01-02
Moat score
74/ 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 Constellation Software Inc.'s moat claims, evidence, and risks.

View CSU analysis

Comparison highlights

  • Moat score gap: Constellation Software Inc. leads (74 / 100 vs 64 / 100 for Axcelis Technologies, Inc.).
  • Segment focus: Axcelis Technologies, Inc. has 2 segments (68.1% in Ion implantation systems); Constellation Software Inc. has 6 segments.
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Axcelis Technologies, Inc. has 7 moat types across 2 domains; Constellation Software Inc. has 3 across 2.

Primary market context

Axcelis Technologies, Inc.

Ion implantation systems

Market

Global semiconductor ion implantation equipment for wafer fabrication

Geography

Global, concentrated in Asia-Pacific semiconductor fabs

Customer

Semiconductor manufacturers, foundries, IDMs, power-device makers, memory producers and logic fabs

Role

OEM supplier of high current, medium current and high energy ion implantation systems

Revenue share

68.1%

Constellation Software Inc.

Volaris Operating Group

Market

Vertical market software (VMS) portfolios across diverse industries (Volaris)

Geography

Global (North America, Continental Europe, UK, Australia, South America, Africa)

Customer

Organizations in specific verticals (mix of public and private sector)

Role

Vertical market software vendor (application provider + long-term maintainer)

Side-by-side metrics

Axcelis Technologies, Inc.
Constellation Software Inc.
Ticker / Exchange
ACLS - Nasdaq Global Select Market
CSU - Toronto Stock Exchange
Market cap (USD)
$4.4B
$38.7B
Gross margin (TTM)
44.9%
47.1%
Operating margin (TTM)
14.2%
13.1%
Net margin (TTM)
14.3%
4.4%
Sector
Technology
Technology
Industry
Semiconductors
Software - Application
HQ country
US
CA
Primary segment
Ion implantation systems
Volaris Operating Group
Market structure
Oligopoly
Competitive
Market share
19%-21% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
64 / 100
74 / 100
Moat domains
Demand, Supply
Demand, Supply
Last update
2026-04-25
2026-01-02

Moat coverage

Shared moat types

Installed Base Consumables

Axcelis Technologies, Inc. strengths

Design In QualificationLearning Curve YieldCapex Knowhow ScaleBrand TrustService Field NetworkProcurement Inertia

Constellation Software Inc. strengths

Switching Costs GeneralOperational Excellence

Segment mix

Axcelis Technologies, Inc. segments

Full profile >

Ion implantation systems

Oligopoly

68.1%

Customer Solutions & Innovation aftermarket

Competitive

31.9%

Constellation Software Inc. segments

Full profile >

Volaris Operating Group

Competitive

n/a

Harris Operating Group

Competitive

n/a

Topicus.com Operating Group

Competitive

n/a

Jonas Operating Group

Competitive

n/a

Perseus Operating Group

Competitive

n/a

Vela Operating Group

Competitive

n/a

Want the full wide moat stocks list?

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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.