VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

Nabtesco Corporation vs Air Products and Chemicals, Inc.

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

Nabtesco Corporation

6268 · Tokyo Stock Exchange

Market cap (USD)
SectorIndustrials
CountryJP
Data as of2025-12-30
Moat score
91/ 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 Nabtesco Corporation's moat claims, evidence, and risks.

View 6268 analysis

Air Products and Chemicals, Inc.

APD · New York Stock Exchange

Market cap (USD)$55.1B
SectorMaterials
CountryUS
Data as of2025-12-27
Moat score
70/ 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 Products and Chemicals, Inc.'s moat claims, evidence, and risks.

View APD analysis

Comparison highlights

  • Moat score gap: Nabtesco Corporation leads (91 / 100 vs 70 / 100 for Air Products and Chemicals, Inc.).
  • Segment focus: Nabtesco Corporation has 4 segments (34.2% in Component Solutions Business); Air Products and Chemicals, Inc. has 3 segments (51.3% in On-site industrial gases (incl. pipelines)).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Strong.
  • Moat breadth: Nabtesco Corporation has 5 moat types across 3 domains; Air Products and Chemicals, Inc. has 6 across 3.

Primary market context

Nabtesco Corporation

Component Solutions Business

Market

Precision reduction gears (RV reducers) for industrial robot joints

Geography

Global

Customer

Industrial robot manufacturers (OEMs)

Role

Precision motion-control component supplier

Revenue share

34.2%

Air Products and Chemicals, Inc.

On-site industrial gases (incl. pipelines)

Market

On-site supply of industrial gases (oxygen, nitrogen, hydrogen, etc.)

Geography

Global

Customer

Large-volume industrial customers (refining, chemicals, metals, electronics)

Role

Producer / operator of on-site plants and pipeline networks

Revenue share

51.3%

Side-by-side metrics

Nabtesco Corporation
Air Products and Chemicals, Inc.
Ticker / Exchange
6268 - Tokyo Stock Exchange
APD - New York Stock Exchange
Market cap (USD)
n/a
$55.1B
Sector
Industrials
Materials
HQ country
JP
US
Primary segment
Component Solutions Business
On-site industrial gases (incl. pipelines)
Market structure
Quasi-Monopoly
Oligopoly
Market share
55%-65% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Strong
Moat score
91 / 100
70 / 100
Moat domains
Supply, Demand, Legal
Demand, Legal, Supply
Last update
2025-12-30
2025-12-27

Moat coverage

Shared moat types

No overlap yet.

Nabtesco Corporation strengths

Learning Curve YieldDesign In QualificationCompliance AdvantageService Field NetworkBrand Trust

Air Products and Chemicals, Inc. strengths

Long Term ContractsPermits Rights Of WayCapex Knowhow ScalePhysical Network DensityInstalled Base ConsumablesOperational Excellence

Segment mix

Nabtesco Corporation segments

Full profile >

Component Solutions Business

Quasi-Monopoly

34.2%

Transport Solutions Business

Oligopoly

27.4%

Accessibility Solutions Business

Quasi-Monopoly

33%

Other Businesses

Quasi-Monopoly

5.4%

Air Products and Chemicals, Inc. segments

Full profile >

On-site industrial gases (incl. pipelines)

Oligopoly

51.3%

Merchant gases (liquid bulk + packaged)

Competitive

44.3%

Industrial gases equipment (cryogenic & gas processing)

Competitive

4.3%

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.