VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

ASML Holding N.V. vs BlackRock, Inc.

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

ASML Holding N.V.

ASML · Euronext Amsterdam

Market cap (USD)$417.7B
SectorTechnology
CountryNL
Data as of2025-12-21
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 ASML Holding N.V.'s moat claims, evidence, and risks.

View ASML analysis

BlackRock, Inc.

BLK · New York Stock Exchange

Market cap (USD)$168.1B
SectorFinancials
CountryUS
Data as of2025-12-31
Moat score
59/ 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 BlackRock, Inc.'s moat claims, evidence, and risks.

View BLK analysis

Comparison highlights

  • Moat score gap: ASML Holding N.V. leads (76 / 100 vs 59 / 100 for BlackRock, Inc.).
  • Segment focus: ASML Holding N.V. has 3 segments (23% in Installed Base Management (service, upgrades, field options)); BlackRock, Inc. has 7 segments (33% in iShares ETFs & ETPs).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: ASML Holding N.V. has 6 moat types across 2 domains; BlackRock, Inc. has 10 across 2.

Primary market context

ASML Holding N.V.

Installed Base Management (service, upgrades, field options)

Market

Service, upgrades and field options for installed ASML lithography tools

Geography

Global

Customer

Owners/operators of ASML lithography systems

Role

Aftermarket service provider

Revenue share

23%

BlackRock, Inc.

iShares ETFs & ETPs

Market

Exchange-traded funds (ETFs) and exchange-traded products (ETPs)

Geography

Global

Customer

Institutional and retail (via intermediaries)

Role

ETF sponsor / asset manager

Revenue share

33%

Side-by-side metrics

ASML Holding N.V.
BlackRock, Inc.
Ticker / Exchange
ASML - Euronext Amsterdam
BLK - New York Stock Exchange
Market cap (USD)
$417.7B
$168.1B
Sector
Technology
Financials
HQ country
NL
US
Primary segment
Installed Base Management (service, upgrades, field options)
iShares ETFs & ETPs
Market structure
Quasi-Monopoly
Oligopoly
Market share
n/a
28.3% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
76 / 100
59 / 100
Moat domains
Supply, Demand
Supply, Demand
Last update
2025-12-21
2025-12-31

Moat coverage

Shared moat types

Brand TrustSwitching Costs General

ASML Holding N.V. strengths

Supply Chain ControlCapex Knowhow ScaleService Field NetworkInstalled Base Consumables

BlackRock, Inc. strengths

Scale Economies Unit CostDistribution ControlOperational ExcellenceSuite BundlingProcurement InertiaLong Term ContractsScope EconomiesData Workflow Lockin

Segment mix

ASML Holding N.V. segments

Full profile >

EUV lithography systems (incl. High-NA)

Monopoly

n/a

DUV lithography systems

Oligopoly

n/a

Installed Base Management (service, upgrades, field options)

Quasi-Monopoly

23%

BlackRock, Inc. segments

Full profile >

iShares ETFs & ETPs

Oligopoly

33%

Institutional Index Mandates (Non-ETF)

Oligopoly

5.7%

Active & Multi-Asset (Public Markets)

Competitive

27.5%

Alternatives & Private Markets

Oligopoly

13.5%

Cash Management (MMFs & cash solutions)

Competitive

5.1%

Aladdin & Technology Services

Oligopoly

7.9%

Distribution & Advisory Services

Competitive

7.3%

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.