VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Air Liquide S.A. vs The Estee Lauder Companies 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

The Estee Lauder Companies Inc.

EL · New York Stock Exchange

Market cap (USD)$41B
Gross margin (TTM)74.2%
Operating margin (TTM)-0.7%
Net margin (TTM)-6.4%
SectorConsumer
IndustryHousehold & Personal Products
CountryUS
Data as of2025-12-23
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 The Estee Lauder Companies Inc.'s moat claims, evidence, and risks.

View EL analysis

Comparison highlights

  • Moat score gap: The Estee Lauder Companies Inc. leads (70 / 100 vs 58 / 100 for Air Liquide S.A.).
  • Segment focus: Air Liquide S.A. has 6 segments (44% in Industrial Merchant); The Estee Lauder Companies Inc. has 5 segments (48.6% in Skin Care).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Air Liquide S.A. has 12 moat types across 3 domains; The Estee Lauder Companies Inc. has 4 across 2.

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%

The Estee Lauder Companies Inc.

Skin Care

Market

Prestige skin care products

Geography

Global

Customer

Consumers

Role

Branded manufacturer/marketer

Revenue share

48.6%

Side-by-side metrics

Air Liquide S.A.
The Estee Lauder Companies Inc.
Ticker / Exchange
AI - Euronext Paris
EL - New York Stock Exchange
Market cap (USD)
$91.6B
$41B
Gross margin (TTM)
n/a
74.2%
Operating margin (TTM)
n/a
-0.7%
Net margin (TTM)
n/a
-6.4%
Sector
Materials
Consumer
Industry
Chemicals - Specialty
Household & Personal Products
HQ country
FR
US
Primary segment
Industrial Merchant
Skin Care
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
58 / 100
70 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply
Last update
2026-01-08
2025-12-23

Moat coverage

Shared moat types

Distribution ControlOperational ExcellenceScope Economies

Air Liquide S.A. strengths

Long Term ContractsPhysical Network DensityScale Economies Unit CostService Field NetworkCompliance AdvantageDesign In QualificationSupply Chain ControlIP Choke PointCapex Knowhow Scale

The Estee Lauder Companies Inc. strengths

Brand Trust

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%

The Estee Lauder Companies Inc. segments

Full profile >

Skin Care

Oligopoly

48.6%

Makeup

Oligopoly

29.4%

Fragrance

Oligopoly

17.4%

Hair Care

Competitive

3.9%

Other

Competitive

0.7%

Want the full wide moat stocks list?

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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.