VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

ASML Holding N.V. vs Spirax Group plc

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

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$6.7B
SectorIndustrials
CountryGB
Data as of2025-12-28
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 Spirax Group plc's moat claims, evidence, and risks.

View SPX analysis

Comparison highlights

  • Moat score gap: ASML Holding N.V. leads (76 / 100 vs 71 / 100 for Spirax Group plc).
  • Segment focus: ASML Holding N.V. has 3 segments (23% in Installed Base Management (service, upgrades, field options)); Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions).
  • 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; Spirax Group plc has 6 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%

Spirax Group plc

Steam Thermal Solutions

Market

Industrial and commercial steam systems (condensate management, controls, thermal energy management products and solutions)

Geography

Global

Customer

Industrial process operators and commercial facility operators

Role

OEM / solutions provider

Revenue share

52.1%

Side-by-side metrics

ASML Holding N.V.
Spirax Group plc
Ticker / Exchange
ASML - Euronext Amsterdam
SPX - London Stock Exchange
Market cap (USD)
$417.7B
$6.7B
Sector
Technology
Industrials
HQ country
NL
GB
Primary segment
Installed Base Management (service, upgrades, field options)
Steam Thermal Solutions
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
71 / 100
Moat domains
Supply, Demand
Supply, Demand
Last update
2025-12-21
2025-12-28

Moat coverage

Shared moat types

Capex Knowhow ScaleBrand TrustService Field NetworkInstalled Base Consumables

ASML Holding N.V. strengths

Supply Chain ControlSwitching Costs General

Spirax Group plc strengths

Design In QualificationSuite 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%

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

52.1%

Electric Thermal Solutions

Competitive

24.3%

Watson-Marlow Fluid Technology Solutions

Oligopoly

23.6%

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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.