VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Air Liquide S.A. vs CoStar Group, Inc.

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

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

CoStar Group, Inc.

CSGP · NASDAQ

Market cap (USD)$24.8B
Gross margin (TTM)79.3%
Operating margin (TTM)-2.7%
Net margin (TTM)0.7%
SectorReal Estate
IndustryReal Estate - Services
CountryUS
Data as of2025-12-29
Moat score
75/ 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 CoStar Group, Inc.'s moat claims, evidence, and risks.

View CSGP analysis

Comparison highlights

  • Moat score gap: CoStar Group, Inc. leads (75 / 100 vs 58 / 100 for Air Liquide S.A.).
  • Segment focus: Air Liquide S.A. has 6 segments (44% in Industrial Merchant); CoStar Group, Inc. has 6 segments (39% in Multifamily (Apartments.com Network)).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Air Liquide S.A. has 12 moat types across 3 domains; CoStar Group, Inc. has 9 across 4.

Primary market context

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%

CoStar Group, Inc.

Multifamily (Apartments.com Network)

Market

Online multifamily rental marketplaces and advertising

Geography

United States

Customer

Two-sided (renters + property managers/owners)

Role

Marketplace (subscription advertising + workflow tools)

Revenue share

39%

Side-by-side metrics

Air Liquide S.A.
CoStar Group, Inc.
Ticker / Exchange
AI - Euronext Paris
CSGP - NASDAQ
Market cap (USD)
$91.6B
$24.8B
Gross margin (TTM)
n/a
79.3%
Operating margin (TTM)
n/a
-2.7%
Net margin (TTM)
n/a
0.7%
Sector
Materials
Real Estate
Industry
Chemicals - Specialty
Real Estate - Services
HQ country
FR
US
Primary segment
Industrial Merchant
Multifamily (Apartments.com Network)
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
58 / 100
75 / 100
Moat domains
Demand, Supply, Legal
Supply, Network, Demand, Legal
Last update
2026-01-08
2025-12-29

Moat coverage

Shared moat types

IP Choke PointCapex Knowhow Scale

Air Liquide S.A. strengths

Long Term ContractsPhysical Network DensityScale Economies Unit CostDistribution ControlOperational ExcellenceService Field NetworkCompliance AdvantageDesign In QualificationSupply Chain ControlScope Economies

CoStar Group, Inc. strengths

Data Network EffectsData Workflow LockinDe Facto StandardTwo Sided NetworkBrand TrustSuite BundlingEcosystem Complements

Segment mix

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%

CoStar Group, Inc. segments

Full profile >

CoStar (commercial real estate info & analytics)

Oligopoly

37.3%

Information Services (lease management software + international info)

Competitive

5%

Multifamily (Apartments.com Network)

Oligopoly

39%

LoopNet (commercial property marketing marketplace)

Oligopoly

10.3%

Residential (Homes.com + OnTheMarket)

Oligopoly

3.7%

Other Marketplaces (Ten-X, Land.com, BizBuySell, etc.)

Competitive

4.8%

Want the full wide moat stocks list?

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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.