VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Kubota Corporation vs Air Liquide S.A.

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

Kubota Corporation

6326 · Tokyo Stock Exchange

Market cap (USD)$2.7T
Gross margin (TTM)29.9%
Operating margin (TTM)9%
Net margin (TTM)5.9%
SectorIndustrials
IndustryAgricultural - Machinery
CountryJP
Data as of2025-12-30
Moat score
73/ 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 Kubota Corporation's moat claims, evidence, and risks.

View 6326 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: Kubota Corporation leads (73 / 100 vs 58 / 100 for Air Liquide S.A.).
  • Segment focus: Kubota Corporation has 3 segments (87.4% in Farm & Industrial Machinery); Air Liquide S.A. has 6 segments (44% in Industrial Merchant).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Kubota Corporation has 6 moat types across 3 domains; Air Liquide S.A. has 12 across 3.

Primary market context

Kubota Corporation

Farm & Industrial Machinery

Market

Agricultural machinery and compact construction equipment (incl. compact/utility tractors, construction machinery, engines)

Geography

Global

Customer

Dealers and end users (farmers, contractors, municipalities)

Role

OEM

Revenue share

87.4%

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

Kubota Corporation
Air Liquide S.A.
Ticker / Exchange
6326 - Tokyo Stock Exchange
AI - Euronext Paris
Market cap (USD)
$2.7T
$91.6B
Gross margin (TTM)
29.9%
n/a
Operating margin (TTM)
9%
n/a
Net margin (TTM)
5.9%
n/a
Sector
Industrials
Materials
Industry
Agricultural - Machinery
Chemicals - Specialty
HQ country
JP
FR
Primary segment
Farm & Industrial Machinery
Industrial Merchant
Market structure
Oligopoly
Competitive
Market share
22%-28% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
73 / 100
58 / 100
Moat domains
Supply, Demand, Legal
Demand, Supply, Legal
Last update
2025-12-30
2026-01-08

Moat coverage

Shared moat types

Service Field NetworkLong Term Contracts

Kubota Corporation strengths

Installed Base ConsumablesBrand TrustGovernment Contracting RelationshipsAdjacency moat from captive support services

Air Liquide S.A. strengths

Physical Network DensityScale Economies Unit CostDistribution ControlOperational ExcellenceCompliance AdvantageDesign In QualificationSupply Chain ControlIP Choke PointCapex Knowhow ScaleScope Economies

Segment mix

Kubota Corporation segments

Full profile >

Farm & Industrial Machinery

Oligopoly

87.4%

Water & Environment

Competitive

12%

Other

Competitive

0.6%

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.

View the moat stocks list

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.