VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

ASML Holding N.V. vs Canadian National Railway Company

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

Canadian National Railway Company

CNR · Toronto Stock Exchange

Market cap (USD)$61.2B
SectorIndustrials
CountryCA
Data as of2025-12-30
Moat score
97/ 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 Canadian National Railway Company's moat claims, evidence, and risks.

View CNR analysis

Comparison highlights

  • Moat score gap: Canadian National Railway Company leads (97 / 100 vs 76 / 100 for ASML Holding N.V.).
  • Segment focus: ASML Holding N.V. has 3 segments (23% in Installed Base Management (service, upgrades, field options)); Canadian National Railway Company has 2 segments (96.2% in Rail freight transportation network).
  • Primary market structure: Quasi-Monopoly vs Duopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: ASML Holding N.V. has 6 moat types across 2 domains; Canadian National Railway Company has 4 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%

Canadian National Railway Company

Rail freight transportation network

Market

Canadian Class I freight rail transportation

Geography

Canada (with U.S. cross-border corridors)

Customer

Industrial shippers, intermodal customers, and auto supply chains

Role

Line-haul freight railway (Class I)

Revenue share

96.2%

Side-by-side metrics

ASML Holding N.V.
Canadian National Railway Company
Ticker / Exchange
ASML - Euronext Amsterdam
CNR - Toronto Stock Exchange
Market cap (USD)
$417.7B
$61.2B
Sector
Technology
Industrials
HQ country
NL
CA
Primary segment
Installed Base Management (service, upgrades, field options)
Rail freight transportation network
Market structure
Quasi-Monopoly
Duopoly
Market share
n/a
50%-56% (estimated)
HHI estimate
n/a
4,031
Pricing power
Strong
Moderate
Moat score
76 / 100
97 / 100
Moat domains
Supply, Demand
Legal, Supply
Last update
2025-12-21
2025-12-30

Moat coverage

Shared moat types

No overlap yet.

ASML Holding N.V. strengths

Supply Chain ControlCapex Knowhow ScaleBrand TrustSwitching Costs GeneralService Field NetworkInstalled Base Consumables

Canadian National Railway Company strengths

Permits Rights Of WayPhysical Network DensityScale Economies Unit CostScope Economies

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%

Canadian National Railway Company segments

Full profile >

Rail freight transportation network

Duopoly

96.2%

Non-rail logistics and ancillary services

Competitive

3.8%

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

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.