VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Air Liquide S.A. vs Global Payments 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

Global Payments Inc.

GPN · New York Stock Exchange

Market cap (USD)$18.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryUS
Data as of2026-01-10
Moat score
62/ 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 Global Payments Inc.'s moat claims, evidence, and risks.

View GPN analysis

Comparison highlights

  • Moat score gap: Global Payments Inc. leads (62 / 100 vs 58 / 100 for Air Liquide S.A.).
  • Segment focus: Air Liquide S.A. has 6 segments (44% in Industrial Merchant); Global Payments Inc. has 2 segments (76.1% in Merchant Solutions).
  • Moat breadth: Air Liquide S.A. has 12 moat types across 3 domains; Global Payments Inc. has 6 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%

Global Payments Inc.

Merchant Solutions

Market

Merchant acquiring and integrated payments (card-present and e-commerce)

Geography

Global

Customer

Merchants (SMB to enterprise) and software platforms

Role

Acquirer and payment processor

Revenue share

76.1%

Side-by-side metrics

Air Liquide S.A.
Global Payments Inc.
Ticker / Exchange
AI - Euronext Paris
GPN - New York Stock Exchange
Market cap (USD)
$91.6B
$18.8B
Gross margin (TTM)
n/a
n/a
Operating margin (TTM)
n/a
n/a
Net margin (TTM)
n/a
n/a
Sector
Materials
Financials
Industry
Chemicals - Specialty
n/a
HQ country
FR
US
Primary segment
Industrial Merchant
Merchant Solutions
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
58 / 100
62 / 100
Moat domains
Demand, Supply, Legal
Network, Demand, Supply, Legal
Last update
2026-01-08
2026-01-10

Moat coverage

Shared moat types

Long Term ContractsScale Economies Unit CostCompliance Advantage

Air Liquide S.A. strengths

Physical Network DensityDistribution ControlOperational ExcellenceService Field NetworkDesign In QualificationSupply Chain ControlIP Choke PointCapex Knowhow ScaleScope Economies

Global Payments Inc. strengths

Ecosystem ComplementsData Workflow LockinSwitching Costs General

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%

Global Payments Inc. segments

Full profile >

Merchant Solutions

Competitive

76.1%

Issuer Solutions

Oligopoly

24.6%

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.