VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Sunday, December 28, 2025

Stock Comparison

ASML Holding N.V. vs Thales S.A.

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.

View full moat analysis >

Thales S.A.

HO · Euronext Paris

Market cap (USD)$55.3B
SectorIndustrials
CountryFR
Data as of2025-12-28
Moat score
73/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

View full moat analysis >

Side-by-side metrics

ASML Holding N.V.
Thales S.A.
Ticker / Exchange
ASML - Euronext Amsterdam
HO - Euronext Paris
Market cap (USD)
$417.7B
$55.3B
Sector
Technology
Industrials
HQ country
NL
FR
Primary segment
Installed Base Management (service, upgrades, field options)
Defence
Market structure
Quasi-Monopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
76 / 100
73 / 100
Moat domains
Supply, Demand
Legal, Demand, Supply
Last update
2025-12-21
2025-12-28

Moat coverage

Shared moat types

Capex Knowhow ScaleBrand TrustService Field Network

ASML Holding N.V. strengths

Supply Chain ControlSwitching Costs GeneralInstalled Base Consumables

Thales S.A. strengths

Government Contracting RelationshipsLong Term ContractsDesign In QualificationRegulated Standards PipeSuite Bundling

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%

Thales S.A. segments

Full profile >

Defence

Oligopoly

53.3%

Aerospace

Oligopoly

26.6%

Cyber & Digital

Competitive

19.6%

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 Pricing, features, and availability may be incomplete or out of date.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.