VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

ASML Holding N.V. vs Transurban Group

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)$407.9B
Gross margin (TTM)52.7%
Operating margin (TTM)34.9%
Net margin (TTM)29.4%
SectorTechnology
IndustrySemiconductors
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

Transurban Group

TCL · Australian Securities Exchange

Market cap (USD)$42.6B
Gross margin (TTM)43.4%
Operating margin (TTM)39.4%
Net margin (TTM)5.8%
SectorIndustrials
IndustryIndustrial - Infrastructure Operations
CountryAU
Data as of2026-01-04
Moat score
91/ 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 Transurban Group's moat claims, evidence, and risks.

View TCL analysis

Comparison highlights

  • Moat score gap: Transurban Group leads (91 / 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)); Transurban Group has 4 segments (49.5% in Sydney toll roads).
  • Primary market structure: Quasi-Monopoly vs Quasi-Monopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: ASML Holding N.V. has 6 moat types across 2 domains; Transurban Group has 3 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%

Transurban Group

Sydney toll roads

Market

Urban toll-road concessions (Sydney)

Geography

Sydney, New South Wales, Australia

Customer

Motorists and commercial fleet operators

Role

Concessionaire / operator and developer

Revenue share

49.5%

Side-by-side metrics

ASML Holding N.V.
Transurban Group
Ticker / Exchange
ASML - Euronext Amsterdam
TCL - Australian Securities Exchange
Market cap (USD)
$407.9B
$42.6B
Gross margin (TTM)
52.7%
43.4%
Operating margin (TTM)
34.9%
39.4%
Net margin (TTM)
29.4%
5.8%
Sector
Technology
Industrials
Industry
Semiconductors
Industrial - Infrastructure Operations
HQ country
NL
AU
Primary segment
Installed Base Management (service, upgrades, field options)
Sydney toll roads
Market structure
Quasi-Monopoly
Quasi-Monopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
76 / 100
91 / 100
Moat domains
Supply, Demand
Legal, Financial, Demand
Last update
2025-12-21
2026-01-04

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

Transurban Group strengths

Concession LicenseBenchmark Pricing PowerDynamic congestion pricing

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%

Transurban Group segments

Full profile >

Sydney toll roads

Quasi-Monopoly

49.5%

Melbourne toll roads

Quasi-Monopoly

26.5%

Brisbane toll roads

Quasi-Monopoly

16%

North America managed lanes and concessions

Quasi-Monopoly

8.1%

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that work.

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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.