VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Advantech Co., Ltd. vs Air Liquide S.A.

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

Advantech Co., Ltd.

2395 · Taiwan Stock Exchange

Market cap (USD)$249.3B
Gross margin (TTM)39.8%
Operating margin (TTM)16.2%
Net margin (TTM)14.6%
SectorTechnology
IndustryComputer Hardware
CountryTW
Data as of2025-12-28
Moat score
62/ 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 Advantech Co., Ltd.'s moat claims, evidence, and risks.

View 2395 analysis

Air Liquide S.A.

AI · Euronext Paris

Market cap (USD)$91.6B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorMaterials
IndustryChemicals - Specialty
CountryFR
Data as of2026-01-08
Moat score
58/ 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 Air Liquide S.A.'s moat claims, evidence, and risks.

View AI analysis

Comparison highlights

  • Moat score gap: Advantech Co., Ltd. leads (62 / 100 vs 58 / 100 for Air Liquide S.A.).
  • Segment focus: Advantech Co., Ltd. has 3 segments (49% in Industrial Computer and Industrial Control); Air Liquide S.A. has 6 segments (44% in Industrial Merchant).
  • Moat breadth: Advantech Co., Ltd. has 5 moat types across 3 domains; Air Liquide S.A. has 12 across 3.

Primary market context

Advantech Co., Ltd.

Industrial Computer and Industrial Control

Market

Industrial PCs and industrial control computing (industrial automation, edge industrial computing)

Geography

Global

Customer

Industrial enterprises, system integrators, and industrial OEMs

Role

Industrial computing OEM + solution integrator

Revenue share

49%

Air Liquide S.A.

Industrial Merchant

Market

Merchant industrial and medical gases distribution (cylinders, bulk liquids) plus related equipment and services

Geography

Global (local/regional distribution markets)

Customer

SMEs and mid-market industrial customers, contractors, labs, and public sector buyers

Role

Distributor + producer (last-mile logistics, cylinder assets, bulk delivery)

Revenue share

44%

Side-by-side metrics

Advantech Co., Ltd.
Air Liquide S.A.
Ticker / Exchange
2395 - Taiwan Stock Exchange
AI - Euronext Paris
Market cap (USD)
$249.3B
$91.6B
Gross margin (TTM)
39.8%
n/a
Operating margin (TTM)
16.2%
n/a
Net margin (TTM)
14.6%
n/a
Sector
Technology
Materials
Industry
Computer Hardware
Chemicals - Specialty
HQ country
TW
FR
Primary segment
Industrial Computer and Industrial Control
Industrial Merchant
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
62 / 100
58 / 100
Moat domains
Demand, Supply, Network
Demand, Supply, Legal
Last update
2025-12-28
2026-01-08

Moat coverage

Shared moat types

Design In QualificationService Field Network

Advantech Co., Ltd. strengths

Ecosystem ComplementsData Workflow LockinInstalled Base Consumables

Air Liquide S.A. strengths

Long Term ContractsPhysical Network DensityScale Economies Unit CostDistribution ControlOperational ExcellenceCompliance AdvantageSupply Chain ControlIP Choke PointCapex Knowhow ScaleScope Economies

Segment mix

Advantech Co., Ltd. segments

Full profile >

Industrial Computer and Industrial Control

Competitive

49%

Embedded Boards and Chassis

Competitive

41%

After-sales Service and Others

Competitive

10%

Air Liquide S.A. segments

Full profile >

Large Industries

Oligopoly

26%

Industrial Merchant

Competitive

44%

Healthcare

Competitive

16%

Electronics

Oligopoly

9%

Engineering & Construction

Competitive

2%

Global Markets & Technologies

Competitive

3%

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.