VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Air Liquide S.A. vs Sartorius Stedim Biotech S.A.

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

Sartorius Stedim Biotech S.A.

DIM · Euronext Paris

Market cap (USD)$20.8B
Gross margin (TTM)45.6%
Operating margin (TTM)17.6%
Net margin (TTM)9%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryFR
Data as of2025-12-28
Moat score
80/ 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 Sartorius Stedim Biotech S.A.'s moat claims, evidence, and risks.

View DIM analysis

Comparison highlights

  • Moat score gap: Sartorius Stedim Biotech S.A. leads (80 / 100 vs 58 / 100 for Air Liquide S.A.).
  • Segment focus: Air Liquide S.A. has 6 segments (44% in Industrial Merchant); Sartorius Stedim Biotech S.A. has 2 segments (75% in Sterile single-use bioprocessing consumables).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Air Liquide S.A. has 12 moat types across 3 domains; Sartorius Stedim Biotech S.A. has 6 across 3.

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%

Sartorius Stedim Biotech S.A.

Sterile single-use bioprocessing consumables

Market

Sterile single-use bioprocessing consumables (bags, filters, fluid management components)

Geography

Global

Customer

Biopharmaceutical manufacturers and CDMOs

Role

Consumables supplier (single-use)

Revenue share

75%

Side-by-side metrics

Air Liquide S.A.
Sartorius Stedim Biotech S.A.
Ticker / Exchange
AI - Euronext Paris
DIM - Euronext Paris
Market cap (USD)
$91.6B
$20.8B
Gross margin (TTM)
n/a
45.6%
Operating margin (TTM)
n/a
17.6%
Net margin (TTM)
n/a
9%
Sector
Materials
Healthcare
Industry
Chemicals - Specialty
Medical - Instruments & Supplies
HQ country
FR
FR
Primary segment
Industrial Merchant
Sterile single-use bioprocessing consumables
Market structure
Competitive
Oligopoly
Market share
n/a
10%-25% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
58 / 100
80 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply, Legal
Last update
2026-01-08
2025-12-28

Moat coverage

Shared moat types

Compliance AdvantageDesign In QualificationCapex Knowhow Scale

Air Liquide S.A. strengths

Long Term ContractsPhysical Network DensityScale Economies Unit CostDistribution ControlOperational ExcellenceService Field NetworkSupply Chain ControlIP Choke PointScope Economies

Sartorius Stedim Biotech S.A. strengths

Installed Base ConsumablesLearning Curve YieldSuite Bundling

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%

Sartorius Stedim Biotech S.A. segments

Full profile >

Sterile single-use bioprocessing consumables

Oligopoly

75%

Bioprocessing equipment, systems, and software/services

Oligopoly

25%

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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.