VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

ASML Holding N.V. vs Enbridge 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

Enbridge Inc.

ENB · Toronto Stock Exchange

Market cap (USD)$104.9B
SectorEnergy
CountryCA
Data as of2025-12-31
Moat score
92/ 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 Enbridge Inc.'s moat claims, evidence, and risks.

View ENB analysis

Comparison highlights

  • Moat score gap: Enbridge Inc. leads (92 / 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)); Enbridge Inc. has 4 segments (72.8% in Liquids Pipelines).
  • 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; Enbridge Inc. has 6 across 3.

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%

Enbridge Inc.

Liquids Pipelines

Market

Crude oil & liquids pipeline transportation plus terminals/storage

Geography

North America (Canada & U.S.)

Customer

Producers, refiners, marketers (shippers)

Role

Midstream pipeline operator

Revenue share

72.8%

Side-by-side metrics

ASML Holding N.V.
Enbridge Inc.
Ticker / Exchange
ASML - Euronext Amsterdam
ENB - Toronto Stock Exchange
Market cap (USD)
$417.7B
$104.9B
Sector
Technology
Energy
HQ country
NL
CA
Primary segment
Installed Base Management (service, upgrades, field options)
Liquids Pipelines
Market structure
Quasi-Monopoly
Oligopoly
Market share
n/a
29%-31% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
76 / 100
92 / 100
Moat domains
Supply, Demand
Legal, Supply, Demand
Last update
2025-12-21
2025-12-31

Moat coverage

Shared moat types

Capex Knowhow Scale

ASML Holding N.V. strengths

Supply Chain ControlBrand TrustSwitching Costs GeneralService Field NetworkInstalled Base Consumables

Enbridge Inc. strengths

Permits Rights Of WayPhysical Network DensityLong Term ContractsRegulated Standards PipeConcession License

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%

Enbridge Inc. segments

Full profile >

Liquids Pipelines

Oligopoly

72.8%

Gas Transmission and Midstream

Oligopoly

11.8%

Gas Distribution and Storage

Monopoly

14.4%

Renewable Power Generation

Competitive

1%

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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.