VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Air Products and Chemicals, Inc. vs ASM International N.V.

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

Air Products and Chemicals, Inc.

APD · New York Stock Exchange

Market cap (USD)$55.1B
SectorMaterials
CountryUS
Data as of2025-12-27
Moat score
70/ 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 Air Products and Chemicals, Inc.'s moat claims, evidence, and risks.

View APD analysis

ASM International N.V.

ASM · Euronext Amsterdam

Market cap (USD)
SectorTechnology
CountryNL
Data as of2025-12-29
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 ASM International N.V.'s moat claims, evidence, and risks.

View ASM analysis

Comparison highlights

  • Moat score gap: ASM International N.V. leads (74 / 100 vs 70 / 100 for Air Products and Chemicals, Inc.).
  • Segment focus: Air Products and Chemicals, Inc. has 3 segments (51.3% in On-site industrial gases (incl. pipelines)); ASM International N.V. has 3 segments.
  • Primary market structure: Oligopoly vs Quasi-Monopoly. Pricing power: Strong vs n/a.
  • Moat breadth: Air Products and Chemicals, Inc. has 6 moat types across 3 domains; ASM International N.V. has 5 across 3.

Primary market context

Air Products and Chemicals, Inc.

On-site industrial gases (incl. pipelines)

Market

On-site supply of industrial gases (oxygen, nitrogen, hydrogen, etc.)

Geography

Global

Customer

Large-volume industrial customers (refining, chemicals, metals, electronics)

Role

Producer / operator of on-site plants and pipeline networks

Revenue share

51.3%

ASM International N.V.

ALD equipment

Market

Single-wafer atomic layer deposition (ALD) equipment for semiconductor manufacturing

Geography

Global

Customer

Semiconductor manufacturers (logic/foundry, memory)

Role

Wafer fab equipment supplier

Side-by-side metrics

Air Products and Chemicals, Inc.
ASM International N.V.
Ticker / Exchange
APD - New York Stock Exchange
ASM - Euronext Amsterdam
Market cap (USD)
$55.1B
n/a
Sector
Materials
Technology
HQ country
US
NL
Primary segment
On-site industrial gases (incl. pipelines)
ALD equipment
Market structure
Oligopoly
Quasi-Monopoly
Market share
n/a
55%-60% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
n/a
Moat score
70 / 100
74 / 100
Moat domains
Demand, Legal, Supply
Supply, Demand, Legal
Last update
2025-12-27
2025-12-29

Moat coverage

Shared moat types

Installed Base Consumables

Air Products and Chemicals, Inc. strengths

Long Term ContractsPermits Rights Of WayCapex Knowhow ScalePhysical Network DensityOperational Excellence

ASM International N.V. strengths

Learning Curve YieldDesign In QualificationIP Choke PointService Field Network

Segment mix

Air Products and Chemicals, Inc. segments

Full profile >

On-site industrial gases (incl. pipelines)

Oligopoly

51.3%

Merchant gases (liquid bulk + packaged)

Competitive

44.3%

Industrial gases equipment (cryogenic & gas processing)

Competitive

4.3%

ASM International N.V. segments

Full profile >

ALD equipment

Quasi-Monopoly

n/a

Silicon epitaxy equipment

Oligopoly

n/a

Spares and services

Quasi-Monopoly

n/a

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.