VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Stock Comparison

Axcelis Technologies, Inc. vs Keysight Technologies, 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

Keysight Technologies, Inc.

KEYS · New York Stock Exchange

Market cap (USD)$59.4B
Gross margin (TTM)61.9%
Operating margin (TTM)16%
Net margin (TTM)16.9%
SectorTechnology
IndustryHardware, Equipment & Parts
CountryUS
Data as of2026-01-01
Moat score
69/ 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 Keysight Technologies, Inc.'s moat claims, evidence, and risks.

View KEYS analysis

Comparison highlights

  • Moat score gap: Keysight Technologies, Inc. leads (69 / 100 vs 64 / 100 for Axcelis Technologies, Inc.).
  • Segment focus: Axcelis Technologies, Inc. has 2 segments (68.1% in Ion implantation systems); Keysight Technologies, Inc. has 2 segments (69.3% in Communications Solutions Group (CSG)).
  • Moat breadth: Axcelis Technologies, Inc. has 7 moat types across 2 domains; Keysight Technologies, Inc. has 6 across 3.

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%

Keysight Technologies, Inc.

Communications Solutions Group (CSG)

Market

Electronic design, test, and measurement solutions for communications networks and aerospace/defense/government systems

Geography

Global

Customer

Commercial communications OEMs and operators; aerospace/defense primes and government contractors/agencies

Role

Test & measurement instrumentation OEM + software platform + services provider

Revenue share

69.3%

Side-by-side metrics

Axcelis Technologies, Inc.
Keysight Technologies, Inc.
Ticker / Exchange
ACLS - Nasdaq Global Select Market
KEYS - New York Stock Exchange
Market cap (USD)
$4.4B
$59.4B
Gross margin (TTM)
44.9%
61.9%
Operating margin (TTM)
14.2%
16%
Net margin (TTM)
14.3%
16.9%
Sector
Technology
Technology
Industry
Semiconductors
Hardware, Equipment & Parts
HQ country
US
US
Primary segment
Ion implantation systems
Communications Solutions Group (CSG)
Market structure
Oligopoly
Oligopoly
Market share
19%-21% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
64 / 100
69 / 100
Moat domains
Demand, Supply
Demand, Supply, Network
Last update
2026-04-25
2026-01-01

Moat coverage

Shared moat types

Design In QualificationLearning Curve YieldBrand TrustService Field Network

Axcelis Technologies, Inc. strengths

Capex Knowhow ScaleInstalled Base ConsumablesProcurement Inertia

Keysight Technologies, Inc. strengths

Data Workflow LockinDe Facto Standard

Segment mix

Axcelis Technologies, Inc. segments

Full profile >

Ion implantation systems

Oligopoly

68.1%

Customer Solutions & Innovation aftermarket

Competitive

31.9%

Keysight Technologies, Inc. segments

Full profile >

Communications Solutions Group (CSG)

Oligopoly

69.3%

Electronic Industrial Solutions Group (EISG)

Oligopoly

30.7%

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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.