VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

ASML Holding N.V. vs Teradyne, 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)$487.4B
Gross margin (TTM)52.8%
Operating margin (TTM)34.6%
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

Teradyne, Inc.

TER · Nasdaq Stock Market

Market cap (USD)$51.7B
Gross margin (TTM)58.3%
Operating margin (TTM)20.9%
Net margin (TTM)17.4%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2025-12-23
Moat score
79/ 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 Teradyne, Inc.'s moat claims, evidence, and risks.

View TER analysis

Comparison highlights

  • Moat score gap: Teradyne, Inc. leads (79 / 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)); Teradyne, Inc. has 3 segments (77.9% in Semiconductor Test).
  • 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; Teradyne, 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%

Teradyne, Inc.

Semiconductor Test

Market

Semiconductor automated test equipment (ATE) and system-level test (SLT)

Geography

Global

Customer

IDMs, foundries, fabless, OSATs

Role

Capital equipment supplier

Revenue share

77.9%

Side-by-side metrics

ASML Holding N.V.
Teradyne, Inc.
Ticker / Exchange
ASML - Euronext Amsterdam
TER - Nasdaq Stock Market
Market cap (USD)
$487.4B
$51.7B
Gross margin (TTM)
52.8%
58.3%
Operating margin (TTM)
34.6%
20.9%
Net margin (TTM)
29.4%
17.4%
Sector
Technology
Technology
Industry
Semiconductors
Semiconductors
HQ country
NL
US
Primary segment
Installed Base Management (service, upgrades, field options)
Semiconductor Test
Market structure
Quasi-Monopoly
Duopoly
Market share
n/a
27%-30% (implied)
HHI estimate
n/a
3,565
Pricing power
Strong
Moderate
Moat score
76 / 100
79 / 100
Moat domains
Supply, Demand
Demand, Supply, Network
Last update
2025-12-21
2025-12-23

Moat coverage

Shared moat types

Capex Knowhow ScaleBrand TrustSwitching Costs General

ASML Holding N.V. strengths

Supply Chain ControlService Field NetworkInstalled Base Consumables

Teradyne, Inc. strengths

Format Lock InDesign In QualificationEcosystem Complements

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%

Teradyne, Inc. segments

Full profile >

Semiconductor Test

Duopoly

77.9%

Product Test

Competitive

11.7%

Robotics

Competitive

10.4%

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.