VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

ASM International N.V. vs Cboe Global Markets, Inc.

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

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

Cboe Global Markets, Inc.

CBOE · Cboe BZX

Market cap (USD)
SectorFinancials
CountryUS
Data as of2025-12-31
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 Cboe Global Markets, Inc.'s moat claims, evidence, and risks.

View CBOE analysis

Comparison highlights

  • Moat score gap: Cboe Global Markets, Inc. leads (76 / 100 vs 74 / 100 for ASM International N.V.).
  • Segment focus: ASM International N.V. has 3 segments; Cboe Global Markets, Inc. has 5 segments (60.8% in Options).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: n/a vs Moderate.
  • Moat breadth: ASM International N.V. has 5 moat types across 3 domains; Cboe Global Markets, Inc. has 8 across 4.

Primary market context

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

Cboe Global Markets, Inc.

Options

Market

U.S. listed options exchanges (multi-listed + proprietary index options)

Geography

United States

Customer

Broker-dealers, market makers, institutional investors, retail order-flow intermediaries

Role

Exchange operator (SRO) + derivatives listing venue + market data provider

Revenue share

60.8%

Side-by-side metrics

ASM International N.V.
Cboe Global Markets, Inc.
Ticker / Exchange
ASM - Euronext Amsterdam
CBOE - Cboe BZX
Market cap (USD)
n/a
n/a
Sector
Technology
Financials
HQ country
NL
US
Primary segment
ALD equipment
Options
Market structure
Quasi-Monopoly
Oligopoly
Market share
55%-60% (reported)
29%-32% (reported)
HHI estimate
n/a
n/a
Pricing power
n/a
Moderate
Moat score
74 / 100
76 / 100
Moat domains
Supply, Demand, Legal
Legal, Network, Supply, Demand
Last update
2025-12-29
2025-12-31

Moat coverage

Shared moat types

IP Choke Point

ASM International N.V. strengths

Learning Curve YieldDesign In QualificationInstalled Base ConsumablesService Field Network

Cboe Global Markets, Inc. strengths

Contractual ExclusivityTwo Sided NetworkCapex Knowhow ScaleRegulated Standards PipeSwitching Costs GeneralClearing SettlementDe Facto Standard

Segment mix

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

Cboe Global Markets, Inc. segments

Full profile >

Options

Oligopoly

60.8%

North American Equities

Competitive

18.5%

Europe and Asia Pacific

Oligopoly

10.6%

Futures

Quasi-Monopoly

6.3%

Global FX

Competitive

3.7%

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.