VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Alcon Inc. vs ASML Holding N.V.

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

Alcon Inc.

ALC · New York Stock Exchange

Market cap (USD)$39.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryCH
Data as of2026-01-10
Moat score
71/ 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 Alcon Inc.'s moat claims, evidence, and risks.

View ALC analysis

ASML Holding N.V.

ASML · Euronext Amsterdam

Market cap (USD)$422.1B
Gross margin (TTM)52.7%
Operating margin (TTM)34.9%
Net margin (TTM)29.4%
SectorTechnology
IndustrySemiconductors
CountryNL
Data as of2025-12-21
Moat score
76/ 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 ASML Holding N.V.'s moat claims, evidence, and risks.

View ASML analysis

Comparison highlights

  • Moat score gap: ASML Holding N.V. leads (76 / 100 vs 71 / 100 for Alcon Inc.).
  • Segment focus: Alcon Inc. has 2 segments (56% in Surgical); ASML Holding N.V. has 3 segments (23% in Installed Base Management (service, upgrades, field options)).
  • Primary market structure: Oligopoly vs Quasi-Monopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Alcon Inc. has 7 moat types across 3 domains; ASML Holding N.V. has 6 across 2.

Primary market context

Alcon Inc.

Surgical

Market

Ophthalmic surgical devices (implantables, consumables, equipment) and related service/training

Geography

Global

Customer

Ophthalmic surgeons, hospitals, ambulatory surgery centers, group purchasing organizations

Role

Medical device OEM with direct service, clinical support, and training

Revenue share

56%

ASML Holding N.V.

Installed Base Management (service, upgrades, field options)

Market

Service, upgrades and field options for installed ASML lithography tools

Geography

Global

Customer

Owners/operators of ASML lithography systems

Role

Aftermarket service provider

Revenue share

23%

Side-by-side metrics

Alcon Inc.
ASML Holding N.V.
Ticker / Exchange
ALC - New York Stock Exchange
ASML - Euronext Amsterdam
Market cap (USD)
$39.8B
$422.1B
Gross margin (TTM)
n/a
52.7%
Operating margin (TTM)
n/a
34.9%
Net margin (TTM)
n/a
29.4%
Sector
Healthcare
Technology
Industry
n/a
Semiconductors
HQ country
CH
NL
Primary segment
Surgical
Installed Base Management (service, upgrades, field options)
Market structure
Oligopoly
Quasi-Monopoly
Market share
40%-46% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
71 / 100
76 / 100
Moat domains
Demand, Supply, Legal
Supply, Demand
Last update
2026-01-10
2025-12-21

Moat coverage

Shared moat types

Installed Base ConsumablesService Field NetworkBrand TrustCapex Knowhow Scale

Alcon Inc. strengths

Suite BundlingCompliance AdvantageProcurement Inertia

ASML Holding N.V. strengths

Supply Chain ControlSwitching Costs General

Segment mix

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

ASML Holding N.V. segments

Full profile >

EUV lithography systems (incl. High-NA)

Monopoly

n/a

DUV lithography systems

Oligopoly

n/a

Installed Base Management (service, upgrades, field options)

Quasi-Monopoly

23%

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.