VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Saturday, January 3, 2026

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Stock Comparison

ASM International N.V. vs Xero Limited

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)$27.2B

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

Xero Limited

XRO · Australian Securities Exchange

Market cap (USD)—

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorTechnology

Industry—

CountryNZ

Data as of2026-01-02

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 Xero Limited's moat claims, evidence, and risks.

View XRO analysis

Comparison highlights

Moat score gap: ASM International N.V. leads (74 / 100 vs 71 / 100 for Xero Limited).
Segment focus: ASM International N.V. has 3 segments; Xero Limited has 2 segments.
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; Xero Limited has 7 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

Xero Limited

Core Accounting Subscription Platform

Market

Cloud accounting software for small businesses and their advisors

Geography

Global

Customer

SMB; accountants & bookkeepers

Role

Software platform (SaaS)

Side-by-side metrics

ASM International N.V.

Xero Limited

Ticker / Exchange

ASM - Euronext Amsterdam

XRO - Australian Securities Exchange

Market cap (USD)

$27.2B

n/a

Gross margin (TTM)

51.9%

n/a

Operating margin (TTM)

30.1%

n/a

Net margin (TTM)

23.9%

n/a

Sector

Technology

Industry

Semiconductors

n/a

HQ country

Primary segment

ALD equipment

Core Accounting Subscription Platform

Market structure

Quasi-Monopoly

Oligopoly

Market share

55%-60% (reported)

n/a

HHI estimate

n/a

Pricing power

n/a

Moderate

Moat score

74 / 100

71 / 100

Moat domains

Supply, Demand, Legal

Demand, Network, Financial

Last update

2025-12-29

2026-01-02

Moat coverage

Shared moat types

No overlap yet.

ASM International N.V. strengths

Learning Curve YieldDesign In QualificationIP Choke PointInstalled Base ConsumablesService Field Network

Xero Limited strengths

Data Workflow LockinSwitching Costs GeneralTwo Sided NetworkBenchmark Pricing PowerInteroperability HubEcosystem ComplementsSuite Bundling

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

Xero Limited segments

Full profile >

Core Accounting Subscription Platform

Oligopoly

n/a

Platform Services (Payments, Payroll, App Ecosystem)

Competitive

n/a

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.