VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

KONE Oyj vs Teqnion AB (publ)

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

KONE Oyj

KNEBV · Nasdaq Helsinki

Market cap (USD)$32.1B
Gross margin (TTM)14%
Operating margin (TTM)11.4%
Net margin (TTM)8.5%
SectorIndustrials
IndustryIndustrial - Machinery
CountryFI
Data as of2026-01-02
Moat score
63/ 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 KONE Oyj's moat claims, evidence, and risks.

View KNEBV 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: KONE Oyj leads (63 / 100 vs 47 / 100 for Teqnion AB (publ)).
  • Segment focus: KONE Oyj has 3 segments (40.6% in New Building Solutions); Teqnion AB (publ) has 4 segments.
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Weak vs n/a.
  • Moat breadth: KONE Oyj has 8 moat types across 4 domains; Teqnion AB (publ) has 8 across 2.

Primary market context

KONE Oyj

New Building Solutions

Market

Elevator, escalator and automatic building door new equipment (new installations)

Geography

Global

Customer

Property developers and general contractors

Role

OEM + project installation

Revenue share

40.6%

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

KONE Oyj
Teqnion AB (publ)
Ticker / Exchange
KNEBV - Nasdaq Helsinki
TEQ - Nasdaq First North Growth Market Sweden
Market cap (USD)
$32.1B
$3.1B
Gross margin (TTM)
14%
n/a
Operating margin (TTM)
11.4%
n/a
Net margin (TTM)
8.5%
n/a
Sector
Industrials
Financials
Industry
Industrial - Machinery
Industrial - Distribution
HQ country
FI
SE
Primary segment
New Building Solutions
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
Weak
n/a
Moat score
63 / 100
47 / 100
Moat domains
Supply, Financial, Demand, Legal
Supply, Demand
Last update
2026-01-02
2026-01-08

Moat coverage

Shared moat types

Switching Costs GeneralOperational Excellence

KONE Oyj strengths

Capex Knowhow ScaleNegative Working CapitalInstalled Base ConsumablesData Workflow LockinService Field NetworkCompliance Advantage

Teqnion AB (publ) strengths

Preferential Input AccessScope EconomiesDistribution ControlProcurement InertiaDesign In QualificationLearning Curve Yield

Segment mix

KONE Oyj segments

Full profile >

New Building Solutions

Oligopoly

40.6%

Service (maintenance & repairs)

Competitive

40.6%

Modernization

Competitive

18.8%

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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Looking for expansion-stage stocks?

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

View expansion-stage stocks

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.