Wisedel Capital

🌱 Buy & hold investor specializing in quality + dividend growth companies. 💸 | Not financial advice!

[Wisedel Capital @WisedelCapital]

$MA is a fantastic business to own.

During the latest earnings call, they revealed that 60% of VAS revenue is now network-linked

Even if VAS has lower margins, its high growth and incremental margins are the reason it's operating margin has expanded from 53% to 57% in '25

[Wisedel Capital @WisedelCapital]

@DimitryNakhla Between $MA, $ICE and $SPGI, what’s your favorite Dimitry? Mine’s Mastercard for suree

[Wisedel Capital @WisedelCapital]

@ariaradnia Hey Aria, still trying tu justify your sale of $GOOGL?

[Wisedel Capital @WisedelCapital]

@DimitryNakhla I’ve been so tempted to buy either one but I haven’t because I’ve been adding to $MA & $MELI

Any preferences between $SPGI or $MCO Dimitry?

[Dimitry Nakhla | Babylon Capital® @DimitryNakhla]

What’s the typical life cycle of an $ASML machine once it’s in operation?

𝟗𝟎% 𝐨𝐟 𝐚𝐥𝐥 𝐥𝐢𝐭𝐡𝐨𝐠𝐫𝐚𝐩𝐡𝐲 𝐦𝐚𝐜𝐡𝐢𝐧𝐞𝐬 𝐀𝐒𝐌𝐋 𝐡𝐚𝐬 𝐬𝐨𝐥𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐥𝐚𝐬𝐭 𝟑𝟎 𝐲𝐞𝐚𝐫𝐬 𝐚𝐫𝐞 𝐬𝐭𝐢𝐥𝐥 𝐢𝐧 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐭𝐨𝐝𝐚𝐲.

$ASML is what a 𝙡𝙖𝙮𝙚𝙧𝙚𝙙 𝙢𝙤𝙖𝙩 looks like in practice. Many investors understand that $ASML has a monopoly on EUV lithography. Perhaps very view appreciate just how many compounding layers sit beneath that headline.

𝐓𝐡𝐞 𝐈𝐧𝐬𝐭𝐚𝐥𝐥𝐞𝐝 𝐁𝐚𝐬𝐞: These machines endure. Decades on the floor of the world’s most advanced semiconductor fabrication facilities. That’s not just a sale. That’s an ongoing business relationship. And as the installed base continues to grow, the business becomes more valuable — not just in the year of the sale, but compounding over the long term. More machines in the field means more servicing, more upgrades, and deeper entrenchment with every customer.

𝐌𝐨𝐝𝐮𝐥𝐚𝐫 𝐃𝐞𝐬𝐢𝐠𝐧 & 𝐔𝐩𝐠𝐫𝐚𝐝𝐞𝐬: A machine installed 10 years ago can receive an upgrade today that markedly improves its productivity. Customers aren’t just buying a machine — they’re buying a platform that gets better over time. The purchase decision becomes easier knowing that the machine you buy today can be continuously upgraded over many years — rather than becoming obsolete. For $ASML, that means the revenue opportunity doesn’t end at the sale. It extends across the entire life of the machine.

𝐎𝐧𝐠𝐨𝐢𝐧𝐠 𝐒𝐞𝐫𝐯𝐢𝐜𝐢𝐧𝐠: The relationship doesn’t end at upgrades. $ASML services these machines throughout their entire lifecycle — maintenance, support, and optimization that keeps the world’s most critical semiconductor infrastructure running. This creates a recurring, high-margin revenue stream that compounds quietly in the background alongside new machine sales. The more machines in the field, the more valuable this stream becomes over time.

𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞: The machines are so complex they require three jumbo jets to transport. And by most estimates, the next closest competitor is roughly a decade behind. And $ASML isn’t standing still. $ASML continues to innovate. As of February 2026, $ASML achieved a major breakthrough — developing a 1,000-watt EUV light source, nearly doubling the power of current 600-watt systems. By 2030, that translates to 330 wafers per hour — a 50% increase in productivity. A moat that isn’t just wide today but is actively being widened.

𝐋𝐨𝐰 𝐌𝐚𝐫𝐠𝐢𝐧𝐚𝐥 𝐂𝐨𝐬𝐭 𝐨𝐟 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧: Once the capital cost of a fabrication facility is depreciated, the marginal cost of running these machines is relatively low. $ASML participates in the upside of that efficiency through ongoing upgrades and servicing — without bearing the cost.

This is not a company with one moat. It’s a company where each layer reinforces the next.
___

🎙️ Business Breakdowns: ASML Competing with Moore’s Law (Mar 6, 2026)

[Wisedel Capital @WisedelCapital]

@ManuInvests @FrancJrG Do you mind if I ask, what task did you made either Claude?

[Wisedel Capital @WisedelCapital]

"A rule of 👍for a lot of things in life is that everything that can break will eventually break. So if many things rely on one thing working and that thing breaks, you are counting the days to catastophe".
@morganhousel

$GOOGL MoS relies on many "things" reducing that risk.

[Dimitry Nakhla | Babylon Capital® @DimitryNakhla]

You sure you’re not under-appreciating Google’s long-term potential?

When you buy $GOOG $GOOGL you own:

TPUs
Gemini
Waymo
YouTube
DeepMind
Google Cloud
7% stake in SpaceX
14% stake in Anthropic
Quantum Computing
Android & Play Store
Google Workspace
Google Search
Maps & Waze

[Wisedel Capital @WisedelCapital]

@TribeRuffner @FinanceJack44 Oo wow would’ve thought $MNST TAM to be larger tbh

[Wisedel Capital @WisedelCapital]

@TribeRuffner @FinanceJack44 Thanks for sharing! With my no knowledge in the industry, is there a differentiator between $CELH vs $MNST?

[Wisedel Capital @WisedelCapital]

@ariaradnia Hahaha hope it stays at this levels

[Wisedel Capital @WisedelCapital]

@jimmyinvest Fantastic business Jimmy, definitely worth taking a look at!

[Wisedel Capital @WisedelCapital]

@durablemoat Like!

[Wisedel Capital @WisedelCapital]

Other similar companies in quality to $COST, $ISRG, $ROL, $MCO, $SPGI, $TDG, $CTAS or $FICO?

Trying to increase my current watchlist of best in class companies

[Wisedel Capital @WisedelCapital]

@Yulai_Jump Don’t know some of this names! Will look more into them! Thanks for sharing!

[Wisedel Capital @WisedelCapital]

@fahi778 Currently own a little $BKNG in my portfolio!

[Wisedel Capital @WisedelCapital]

@RationalDCA Thabks for sharing! Great companies!

[Wisedel Capital @WisedelCapital]

@jefernandez8 It’s been some time since I last looked into Danaher!

[Wisedel Capital @WisedelCapital]

@hoosbobby Great companies! $CPRT getting hammered lately

[Wisedel Capital @WisedelCapital]

@ThinFloat Will look into them! Thanks TF

[Wisedel Capital @WisedelCapital]

@ThinFloat For sure you’re missing some key variables within what I consider to be “Quality”

Of course having a great balance sheet is one of them, but not the only one to look for in a business.