VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Applied Materials, Inc. vs Euronext N.V.

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)$211.9B
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

Euronext N.V.

ENX · Euronext Paris

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryNL
Data as of2026-01-03
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 Euronext N.V.'s moat claims, evidence, and risks.

View ENX analysis

Comparison highlights

  • Moat score gap: Applied Materials, Inc. leads (76 / 100 vs 74 / 100 for Euronext N.V.).
  • Segment focus: Applied Materials, Inc. has 2 segments (73.3% in Semiconductor Systems); Euronext N.V. has 7 segments (34.4% in Trading).
  • Moat breadth: Applied Materials, Inc. has 7 moat types across 3 domains; Euronext N.V. has 7 across 4.

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%

Euronext N.V.

Trading

Market

Multi-asset exchange trading venues (cash equities, derivatives, fixed income, FX, power)

Geography

Europe (with global participants)

Customer

Broker-dealers, banks, proprietary trading firms, asset managers, and other market participants

Role

Trading venue operator

Revenue share

34.4%

Side-by-side metrics

Applied Materials, Inc.
Euronext N.V.
Ticker / Exchange
AMAT - The Nasdaq Stock Market LLC
ENX - Euronext Paris
Market cap (USD)
$211.9B
n/a
Gross margin (TTM)
48.7%
n/a
Operating margin (TTM)
29.2%
n/a
Net margin (TTM)
24.7%
n/a
Sector
Technology
Financials
Industry
Semiconductors
n/a
HQ country
US
NL
Primary segment
Semiconductor Systems
Trading
Market structure
Oligopoly
Oligopoly
Market share
16%-20% (implied)
64.8% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
76 / 100
74 / 100
Moat domains
Supply, Demand, Legal
Legal, Network, Supply, Demand
Last update
2025-12-22
2026-01-03

Moat coverage

Shared moat types

IP Choke Point

Applied Materials, Inc. strengths

Scope EconomiesCapex Knowhow ScaleDesign In QualificationInstalled Base ConsumablesService Field NetworkLong Term Contracts

Euronext N.V. strengths

Concession LicenseTwo Sided NetworkOperational ExcellenceFormat Lock InClearing SettlementData Workflow Lockin

Segment mix

Applied Materials, Inc. segments

Full profile >

Semiconductor Systems

Oligopoly

73.3%

Applied Global Services (AGS)

Competitive

22.5%

Euronext N.V. segments

Full profile >

Listing

Oligopoly

14.3%

Trading

Oligopoly

34.4%

Advanced Data Services

Quasi-Monopoly

14.9%

Clearing

Oligopoly

12.4%

Custody & Settlement

Quasi-Monopoly

16.6%

Technology Solutions & Other

Competitive

6.5%

Investor Services

Competitive

0.9%

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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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.