VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Applied Materials, Inc. vs Spirax Group plc

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

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$6.7B
SectorIndustrials
CountryGB
Data as of2025-12-28
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 Spirax Group plc's moat claims, evidence, and risks.

View SPX analysis

Comparison highlights

  • Moat score gap: Applied Materials, Inc. leads (76 / 100 vs 71 / 100 for Spirax Group plc).
  • Segment focus: Applied Materials, Inc. has 2 segments (73.3% in Semiconductor Systems); Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions).
  • Moat breadth: Applied Materials, Inc. has 7 moat types across 3 domains; Spirax Group plc has 6 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%

Spirax Group plc

Steam Thermal Solutions

Market

Industrial and commercial steam systems (condensate management, controls, thermal energy management products and solutions)

Geography

Global

Customer

Industrial process operators and commercial facility operators

Role

OEM / solutions provider

Revenue share

52.1%

Side-by-side metrics

Applied Materials, Inc.
Spirax Group plc
Ticker / Exchange
AMAT - The Nasdaq Stock Market LLC
SPX - London Stock Exchange
Market cap (USD)
$203.3B
$6.7B
Sector
Technology
Industrials
HQ country
US
GB
Primary segment
Semiconductor Systems
Steam Thermal Solutions
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
71 / 100
Moat domains
Supply, Demand, Legal
Supply, Demand
Last update
2025-12-22
2025-12-28

Moat coverage

Shared moat types

Capex Knowhow ScaleDesign In QualificationInstalled Base ConsumablesService Field Network

Applied Materials, Inc. strengths

Scope EconomiesIP Choke PointLong Term Contracts

Spirax Group plc strengths

Brand TrustSuite Bundling

Segment mix

Applied Materials, Inc. segments

Full profile >

Semiconductor Systems

Oligopoly

73.3%

Applied Global Services (AGS)

Competitive

22.5%

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

52.1%

Electric Thermal Solutions

Competitive

24.3%

Watson-Marlow Fluid Technology Solutions

Oligopoly

23.6%

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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.