VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Unicharm Corporation vs Air Liquide S.A.

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

Unicharm Corporation

8113 · Tokyo Stock Exchange

Market cap (USD)$1.6T
Gross margin (TTM)38.5%
Operating margin (TTM)12.9%
Net margin (TTM)8.6%
SectorConsumer
IndustryHousehold & Personal Products
CountryJP
Data as of2025-12-29
Moat score
60/ 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 Unicharm Corporation's moat claims, evidence, and risks.

View 8113 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: Unicharm Corporation leads (60 / 100 vs 58 / 100 for Air Liquide S.A.).
  • Segment focus: Unicharm Corporation has 5 segments; Air Liquide S.A. has 6 segments (44% in Industrial Merchant).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Unicharm Corporation has 7 moat types across 3 domains; Air Liquide S.A. has 12 across 3.

Primary market context

Unicharm Corporation

Baby and Child Care Products

Market

Disposable baby diapers and baby wipes

Geography

Japan, Asia, Middle East, and selected other markets

Customer

Consumers (parents/caregivers)

Role

Branded manufacturer

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

Unicharm Corporation
Air Liquide S.A.
Ticker / Exchange
8113 - Tokyo Stock Exchange
AI - Euronext Paris
Market cap (USD)
$1.6T
$91.6B
Gross margin (TTM)
38.5%
n/a
Operating margin (TTM)
12.9%
n/a
Net margin (TTM)
8.6%
n/a
Sector
Consumer
Materials
Industry
Household & Personal Products
Chemicals - Specialty
HQ country
JP
FR
Primary segment
Baby and Child Care Products
Industrial Merchant
Market structure
Oligopoly
Competitive
Market share
35%-84% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
60 / 100
58 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply, Legal
Last update
2025-12-29
2026-01-08

Moat coverage

Shared moat types

Distribution ControlCapex Knowhow ScaleIP Choke PointOperational Excellence

Unicharm Corporation strengths

Brand TrustHabit DefaultTraining Org Change Costs

Air Liquide S.A. strengths

Long Term ContractsPhysical Network DensityScale Economies Unit CostService Field NetworkCompliance AdvantageDesign In QualificationSupply Chain ControlScope Economies

Segment mix

Unicharm Corporation segments

Full profile >

Baby and Child Care Products

Oligopoly

n/a

Feminine Care Products

Oligopoly

n/a

Wellness Care Products (Adult Incontinence)

Oligopoly

n/a

Pet Care Products

Competitive

n/a

Industrial Materials and Other Businesses

Competitive

n/a

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.

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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.