VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

ASM International N.V. vs Watsco, 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)$29.7B
Gross margin (TTM)51.9%
Operating margin (TTM)30.1%
Net margin (TTM)23.9%
SectorTechnology
IndustrySemiconductors
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

Watsco, Inc.

WSO · New York Stock Exchange

Market cap (USD)$14.4B
Gross margin (TTM)28.3%
Operating margin (TTM)10.2%
Net margin (TTM)7.4%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-05
Moat score
72/ 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 Watsco, Inc.'s moat claims, evidence, and risks.

View WSO analysis

Comparison highlights

  • Moat score gap: ASM International N.V. leads (74 / 100 vs 72 / 100 for Watsco, Inc.).
  • Segment focus: ASM International N.V. has 3 segments; Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Primary market structure: Quasi-Monopoly vs Competitive. Pricing power: n/a vs Moderate.
  • Moat breadth: ASM International N.V. has 5 moat types across 3 domains; Watsco, Inc. has 4 across 3.

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

Watsco, Inc.

HVAC/R Distribution

Market

HVAC/R equipment, parts and supplies distribution

Geography

North America (U.S., Canada, Mexico, Puerto Rico; export to Latin America/Caribbean)

Customer

Licensed HVAC and refrigeration contractors (residential & commercial)

Role

Wholesale distributor

Revenue share

100%

Side-by-side metrics

ASM International N.V.
Watsco, Inc.
Ticker / Exchange
ASM - Euronext Amsterdam
WSO - New York Stock Exchange
Market cap (USD)
$29.7B
$14.4B
Gross margin (TTM)
51.9%
28.3%
Operating margin (TTM)
30.1%
10.2%
Net margin (TTM)
23.9%
7.4%
Sector
Technology
Industrials
Industry
Semiconductors
Industrial - Distribution
HQ country
NL
US
Primary segment
ALD equipment
HVAC/R Distribution
Market structure
Quasi-Monopoly
Competitive
Market share
55%-60% (reported)
9%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
n/a
Moderate
Moat score
74 / 100
72 / 100
Moat domains
Supply, Demand, Legal
Supply, Legal, Demand
Last update
2025-12-29
2026-01-05

Moat coverage

Shared moat types

No overlap yet.

ASM International N.V. strengths

Learning Curve YieldDesign In QualificationIP Choke PointInstalled Base ConsumablesService Field Network

Watsco, Inc. strengths

Physical Network DensityContractual ExclusivityScale Economies Unit CostData Workflow Lockin

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

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.