VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

BAE Systems plc vs Teqnion AB (publ)

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

BAE Systems plc

BA. · London Stock Exchange

Market cap (USD)$59.9B
Gross margin (TTM)8.6%
Operating margin (TTM)9.3%
Net margin (TTM)7.4%
SectorIndustrials
IndustryAerospace & Defense
CountryGB
Data as of2025-12-28
Moat score
75/ 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 BAE Systems plc's moat claims, evidence, and risks.

View BA. analysis

Teqnion AB (publ)

TEQ · Nasdaq First North Growth Market Sweden

Market cap (USD)$3.1B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
IndustryIndustrial - Distribution
CountrySE
Data as of2026-01-08
Moat score
47/ 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 Teqnion AB (publ)'s moat claims, evidence, and risks.

View TEQ analysis

Comparison highlights

  • Moat score gap: BAE Systems plc leads (75 / 100 vs 47 / 100 for Teqnion AB (publ)).
  • Segment focus: BAE Systems plc has 5 segments (26.6% in Electronic Systems); Teqnion AB (publ) has 4 segments.
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs n/a.
  • Moat breadth: BAE Systems plc has 8 moat types across 3 domains; Teqnion AB (publ) has 8 across 2.

Primary market context

BAE Systems plc

Electronic Systems

Market

Defence electronics (electronic warfare, avionics, C4ISR, space payloads and mission systems)

Geography

Primarily US and UK; global programmes

Customer

Government defence and intelligence agencies; prime contractors

Role

Subsystem OEM and prime contractor for electronics/mission systems

Revenue share

26.6%

Teqnion AB (publ)

Acquisition & Portfolio Platform (Active, long-term ownership)

Market

Acquisition and long-term ownership of profitable niche industrial SMEs

Geography

Nordics, UK, Ireland

Customer

Business owners / sellers; subsidiary management teams

Role

Acquirer / holding company / active owner

Side-by-side metrics

BAE Systems plc
Teqnion AB (publ)
Ticker / Exchange
BA. - London Stock Exchange
TEQ - Nasdaq First North Growth Market Sweden
Market cap (USD)
$59.9B
$3.1B
Gross margin (TTM)
8.6%
n/a
Operating margin (TTM)
9.3%
n/a
Net margin (TTM)
7.4%
n/a
Sector
Industrials
Financials
Industry
Aerospace & Defense
Industrial - Distribution
HQ country
GB
SE
Primary segment
Electronic Systems
Acquisition & Portfolio Platform (Active, long-term ownership)
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
n/a
Moat score
75 / 100
47 / 100
Moat domains
Legal, Demand, Supply
Supply, Demand
Last update
2025-12-28
2026-01-08

Moat coverage

Shared moat types

Design In QualificationSwitching Costs General

BAE Systems plc strengths

Government Contracting RelationshipsCompliance AdvantageService Field NetworkLong Term ContractsCapex Knowhow ScaleCapacity Moat

Teqnion AB (publ) strengths

Operational ExcellencePreferential Input AccessScope EconomiesDistribution ControlProcurement InertiaLearning Curve Yield

Segment mix

BAE Systems plc segments

Full profile >

Electronic Systems

Oligopoly

26.6%

Platforms & Services

Oligopoly

16.3%

Air

Oligopoly

26%

Maritime

Oligopoly

22.5%

Cyber & Intelligence

Competitive

8.6%

Teqnion AB (publ) segments

Full profile >

Acquisition & Portfolio Platform (Active, long-term ownership)

Competitive

n/a

Agency & Distribution Businesses

Competitive

n/a

Niche Product & Service Companies

Competitive

n/a

Manufacturing (Own-brand and Contract/OEM)

Competitive

n/a

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.