VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

Teradyne, Inc. vs Veeva Systems Inc.

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

Teradyne, Inc.

TER · Nasdaq Stock Market

Market cap (USD)$31B
SectorTechnology
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

Veeva Systems Inc.

VEEV · New York Stock Exchange

Market cap (USD)$47.7B
SectorTechnology
CountryUS
Data as of2025-12-29
Moat score
82/ 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 Veeva Systems Inc.'s moat claims, evidence, and risks.

View VEEV analysis

Comparison highlights

  • Moat score gap: Veeva Systems Inc. leads (82 / 100 vs 79 / 100 for Teradyne, Inc.).
  • Segment focus: Teradyne, Inc. has 3 segments (77.9% in Semiconductor Test); Veeva Systems Inc. has 2 segments (53% in R&D Solutions).
  • Primary market structure: Duopoly vs Competitive. Pricing power: Moderate vs Strong.
  • Moat breadth: Teradyne, Inc. has 6 moat types across 3 domains; Veeva Systems Inc. has 4 across 3.

Primary market context

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%

Veeva Systems Inc.

R&D Solutions

Market

Life sciences R&D, clinical, regulatory, safety, and quality cloud applications (Vault platform-based suites)

Geography

Global

Customer

Life sciences companies plus CROs and related regulated organizations

Role

Vertical SaaS platform owner

Revenue share

53%

Side-by-side metrics

Teradyne, Inc.
Veeva Systems Inc.
Ticker / Exchange
TER - Nasdaq Stock Market
VEEV - New York Stock Exchange
Market cap (USD)
$31B
$47.7B
Sector
Technology
Technology
HQ country
US
US
Primary segment
Semiconductor Test
R&D Solutions
Market structure
Duopoly
Competitive
Market share
27%-30% (implied)
n/a
HHI estimate
3,565
n/a
Pricing power
Moderate
Strong
Moat score
79 / 100
82 / 100
Moat domains
Demand, Supply, Network
Demand, Legal, Network
Last update
2025-12-23
2025-12-29

Moat coverage

Shared moat types

Ecosystem Complements

Teradyne, Inc. strengths

Format Lock InCapex Knowhow ScaleDesign In QualificationSwitching Costs GeneralBrand Trust

Veeva Systems Inc. strengths

Data Workflow LockinCompliance AdvantageSuite Bundling

Segment mix

Teradyne, Inc. segments

Full profile >

Semiconductor Test

Duopoly

77.9%

Product Test

Competitive

11.7%

Robotics

Competitive

10.4%

Veeva Systems Inc. segments

Full profile >

Commercial Solutions

Oligopoly

47%

R&D Solutions

Competitive

53%

Want the full wide moat stocks list?

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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.