VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Applied Materials, Inc. vs VINCI SA

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

Applied Materials, Inc.

AMAT · The Nasdaq Stock Market LLC

Market cap (USD)$226.5B
Gross margin (TTM)48.7%
Operating margin (TTM)29.2%
Net margin (TTM)24.7%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2025-12-22
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 Applied Materials, Inc.'s moat claims, evidence, and risks.

View AMAT analysis

VINCI SA

DG · Euronext Paris

Market cap (USD)$67.5B
Gross margin (TTM)16%
Operating margin (TTM)12.1%
Net margin (TTM)6.5%
SectorIndustrials
IndustryEngineering & Construction
CountryFR
Data as of2026-01-03
Moat score
57/ 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 VINCI SA's moat claims, evidence, and risks.

View DG analysis

Comparison highlights

  • Moat score gap: Applied Materials, Inc. leads (76 / 100 vs 57 / 100 for VINCI SA).
  • Segment focus: Applied Materials, Inc. has 2 segments (73.3% in Semiconductor Systems); VINCI SA has 7 segments (44.4% in VINCI Construction).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Applied Materials, Inc. has 7 moat types across 3 domains; VINCI SA has 7 across 2.

Primary market context

Applied Materials, Inc.

Semiconductor Systems

Market

Wafer fabrication equipment (WFE) and adjacent front-end process equipment (deposition, etch, CMP, metrology/inspection) plus advanced packaging tools

Geography

Global

Customer

Semiconductor manufacturers (foundry, logic, memory) and advanced packaging providers

Role

OEM equipment supplier

Revenue share

73.3%

VINCI SA

VINCI Construction

Market

Construction and civil engineering contracting (buildings, infrastructure and specialty networks)

Geography

Global

Customer

Public-sector project owners and private developers/industrial clients

Role

General contractor / civil engineering contractor

Revenue share

44.4%

Side-by-side metrics

Applied Materials, Inc.
VINCI SA
Ticker / Exchange
AMAT - The Nasdaq Stock Market LLC
DG - Euronext Paris
Market cap (USD)
$226.5B
$67.5B
Gross margin (TTM)
48.7%
16%
Operating margin (TTM)
29.2%
12.1%
Net margin (TTM)
24.7%
6.5%
Sector
Technology
Industrials
Industry
Semiconductors
Engineering & Construction
HQ country
US
FR
Primary segment
Semiconductor Systems
VINCI Construction
Market structure
Oligopoly
Competitive
Market share
16%-20% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
76 / 100
57 / 100
Moat domains
Supply, Demand, Legal
Legal, Supply
Last update
2025-12-22
2026-01-03

Moat coverage

Shared moat types

Capex Knowhow ScaleService Field Network

Applied Materials, Inc. strengths

Scope EconomiesDesign In QualificationIP Choke PointInstalled Base ConsumablesLong Term Contracts

VINCI SA strengths

Concession LicensePermits Rights Of WayOperational ExcellenceCapacity MoatCompliance Advantage

Segment mix

Applied Materials, Inc. segments

Full profile >

Semiconductor Systems

Oligopoly

73.3%

Applied Global Services (AGS)

Competitive

22.5%

VINCI SA segments

Full profile >

VINCI Autoroutes

Monopoly

9.2%

VINCI Airports

Oligopoly

6.3%

Other concessions (incl. VINCI Highways and PPP assets)

Competitive

0.8%

VINCI Energies

Competitive

28.4%

Cobra IS

Competitive

9.9%

VINCI Construction

Competitive

44.4%

VINCI Immobilier

Competitive

1.6%

Want the full wide moat stocks list?

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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.