VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Saturday, January 10, 2026

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Stock Comparison

Air Liquide S.A. vs W.W. Grainger, 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

W.W. Grainger, Inc.

GWW · New York Stock Exchange

Market cap (USD)$49B
Gross margin (TTM)39.1%
Operating margin (TTM)14.1%
Net margin (TTM)9.8%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-01
Moat score
65/ 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 W.W. Grainger, Inc.'s moat claims, evidence, and risks.

View GWW analysis

Comparison highlights

  • Moat score gap: W.W. Grainger, Inc. leads (65 / 100 vs 58 / 100 for Air Liquide S.A.).
  • Segment focus: Air Liquide S.A. has 6 segments (44% in Industrial Merchant); W.W. Grainger, Inc. has 3 segments (79.9% in High-Touch Solutions N.A.).
  • Moat breadth: Air Liquide S.A. has 12 moat types across 3 domains; W.W. Grainger, Inc. has 5 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%

W.W. Grainger, Inc.

High-Touch Solutions N.A.

Market

MRO (maintenance, repair and operations) products distribution and value-added inventory/procurement solutions

Geography

North America (U.S., Canada, Mexico, Puerto Rico)

Customer

Mid-size and large businesses with complex purchasing operations; also government and institutions

Role

Distributor / wholesaler + onsite inventory services

Revenue share

79.9%

Side-by-side metrics

Air Liquide S.A.
W.W. Grainger, Inc.
Ticker / Exchange
AI - Euronext Paris
GWW - New York Stock Exchange
Market cap (USD)
$91.6B
$49B
Gross margin (TTM)
n/a
39.1%
Operating margin (TTM)
n/a
14.1%
Net margin (TTM)
n/a
9.8%
Sector
Materials
Industrials
Industry
Chemicals - Specialty
Industrial - Distribution
HQ country
FR
US
Primary segment
Industrial Merchant
High-Touch Solutions N.A.
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
58 / 100
65 / 100
Moat domains
Demand, Supply, Legal
Supply, Demand
Last update
2026-01-08
2026-01-01

Moat coverage

Shared moat types

Scale Economies Unit CostOperational ExcellenceService Field NetworkScope Economies

Air Liquide S.A. strengths

Long Term ContractsPhysical Network DensityDistribution ControlCompliance AdvantageDesign In QualificationSupply Chain ControlIP Choke PointCapex Knowhow Scale

W.W. Grainger, Inc. strengths

Data Workflow Lockin

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%

W.W. Grainger, Inc. segments

Full profile >

High-Touch Solutions N.A.

Competitive

79.9%

Endless Assortment

Competitive

18.3%

Other (Cromwell U.K. + captive insurance)

Competitive

1.8%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.