VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

Applied Materials, Inc. vs Lockheed Martin Corporation

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)$203.3B
SectorTechnology
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

Lockheed Martin Corporation

LMT · New York Stock Exchange

Market cap (USD)$111.8B
SectorIndustrials
CountryUS
Data as of2025-12-29
Moat score
81/ 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 Lockheed Martin Corporation's moat claims, evidence, and risks.

View LMT analysis

Comparison highlights

  • Moat score gap: Lockheed Martin Corporation leads (81 / 100 vs 76 / 100 for Applied Materials, Inc.).
  • Segment focus: Applied Materials, Inc. has 2 segments (73.3% in Semiconductor Systems); Lockheed Martin Corporation has 4 segments (40.3% in Aeronautics).
  • Moat breadth: Applied Materials, Inc. has 7 moat types across 3 domains; Lockheed Martin Corporation has 5 across 3.

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%

Lockheed Martin Corporation

Aeronautics

Market

Military fixed-wing aircraft (fighters and air mobility) plus sustainment and upgrades

Geography

Global (primarily U.S. and allied governments)

Customer

Defense ministries and armed services (direct and via foreign military sales)

Role

Prime contractor / OEM / systems integrator

Revenue share

40.3%

Side-by-side metrics

Applied Materials, Inc.
Lockheed Martin Corporation
Ticker / Exchange
AMAT - The Nasdaq Stock Market LLC
LMT - New York Stock Exchange
Market cap (USD)
$203.3B
$111.8B
Sector
Technology
Industrials
HQ country
US
US
Primary segment
Semiconductor Systems
Aeronautics
Market structure
Oligopoly
Oligopoly
Market share
16%-20% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
76 / 100
81 / 100
Moat domains
Supply, Demand, Legal
Demand, Supply, Legal
Last update
2025-12-22
2025-12-29

Moat coverage

Shared moat types

Design In QualificationService Field Network

Applied Materials, Inc. strengths

Scope EconomiesCapex Knowhow ScaleIP Choke PointInstalled Base ConsumablesLong Term Contracts

Lockheed Martin Corporation strengths

Government Contracting RelationshipsCapacity MoatCompliance Advantage

Segment mix

Applied Materials, Inc. segments

Full profile >

Semiconductor Systems

Oligopoly

73.3%

Applied Global Services (AGS)

Competitive

22.5%

Lockheed Martin Corporation segments

Full profile >

Aeronautics

Oligopoly

40.3%

Missiles and Fire Control

Oligopoly

17.9%

Rotary and Mission Systems

Oligopoly

24.3%

Space

Oligopoly

17.6%

Want the full wide moat stocks list?

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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.