VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

BE Semiconductor Industries N.V. vs Games Workshop Group PLC

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

BE Semiconductor Industries N.V.

BESI · Euronext Amsterdam

Market cap (USD)$12.6B
Gross margin (TTM)61.7%
Operating margin (TTM)29%
Net margin (TTM)25.6%
SectorTechnology
IndustrySemiconductors
CountryNL
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 BE Semiconductor Industries N.V.'s moat claims, evidence, and risks.

View BESI analysis

Games Workshop Group PLC

GAW · London Stock Exchange

Market cap (USD)$6.2B
Gross margin (TTM)71.9%
Operating margin (TTM)41%
Net margin (TTM)30.4%
SectorConsumer
IndustryLeisure
CountryGB
Data as of2026-01-05
Moat score
87/ 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 Games Workshop Group PLC's moat claims, evidence, and risks.

View GAW analysis

Comparison highlights

  • Moat score gap: Games Workshop Group PLC leads (87 / 100 vs 75 / 100 for BE Semiconductor Industries N.V.).
  • Segment focus: BE Semiconductor Industries N.V. has 2 segments (81% in Die Attach (incl. advanced die placement & hybrid bonding)); Games Workshop Group PLC has 2 segments (91.5% in Core (Warhammer miniatures & hobby products)).
  • Moat breadth: BE Semiconductor Industries N.V. has 5 moat types across 2 domains; Games Workshop Group PLC has 8 across 4.

Primary market context

BE Semiconductor Industries N.V.

Die Attach (incl. advanced die placement & hybrid bonding)

Market

Semiconductor assembly equipment - die attach & advanced die placement/hybrid bonding systems

Geography

Global

Customer

Semiconductor IDMs, foundries, and OSATs

Role

Capital equipment OEM (back-end/advanced packaging)

Revenue share

81%

Games Workshop Group PLC

Core (Warhammer miniatures & hobby products)

Market

Tabletop miniature wargaming and related hobby products

Geography

Global

Customer

Hobbyists/collectors (B2C) plus independent retailers (B2B)

Role

IP owner + designer/manufacturer + distributor + direct-to-consumer retail

Revenue share

91.5%

Side-by-side metrics

BE Semiconductor Industries N.V.
Games Workshop Group PLC
Ticker / Exchange
BESI - Euronext Amsterdam
GAW - London Stock Exchange
Market cap (USD)
$12.6B
$6.2B
Gross margin (TTM)
61.7%
71.9%
Operating margin (TTM)
29%
41%
Net margin (TTM)
25.6%
30.4%
Sector
Technology
Consumer
Industry
Semiconductors
Leisure
HQ country
NL
GB
Primary segment
Die Attach (incl. advanced die placement & hybrid bonding)
Core (Warhammer miniatures & hobby products)
Market structure
Oligopoly
Oligopoly
Market share
42%-44% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
75 / 100
87 / 100
Moat domains
Supply, Demand
Legal, Demand, Network, Supply
Last update
2025-12-28
2026-01-05

Moat coverage

Shared moat types

Installed Base ConsumablesService Field Network

BE Semiconductor Industries N.V. strengths

Capex Knowhow ScaleDesign In QualificationSwitching Costs General

Games Workshop Group PLC strengths

IP Choke PointBrand TrustEcosystem ComplementsSupply Chain ControlContent Rights CurrencyLong Term Contracts

Segment mix

BE Semiconductor Industries N.V. segments

Full profile >

Die Attach (incl. advanced die placement & hybrid bonding)

Oligopoly

81%

Packaging & Plating

Competitive

19%

Games Workshop Group PLC segments

Full profile >

Core (Warhammer miniatures & hobby products)

Oligopoly

91.5%

Licensing (Warhammer IP)

Monopoly

8.5%

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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.