VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Air Liquide S.A. vs Interactive Brokers 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

Interactive Brokers Group, Inc.

IBKR · NASDAQ

Market cap (USD)$121.7B
Gross margin (TTM)89%
Operating margin (TTM)82.7%
Net margin (TTM)9.2%
SectorFinancials
IndustryInvestment - Banking & Investment Services
CountryUS
Data as of2026-01-06
Moat score
60/ 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 Interactive Brokers Group, Inc.'s moat claims, evidence, and risks.

View IBKR analysis

Comparison highlights

  • Moat score gap: Interactive Brokers Group, Inc. leads (60 / 100 vs 58 / 100 for Air Liquide S.A.).
  • Segment focus: Air Liquide S.A. has 6 segments (44% in Industrial Merchant); Interactive Brokers Group, Inc. has 1 segment (100% in Electronic brokerage).
  • Primary market structure: Competitive vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Air Liquide S.A. has 12 moat types across 3 domains; Interactive Brokers Group, Inc. has 4 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%

Interactive Brokers Group, Inc.

Electronic brokerage

Market

Multi-asset electronic brokerage, clearing, custody, and financing (self-directed and institutional)

Geography

Global

Customer

Individual investors and institutional clients (e.g., hedge funds, advisors, proprietary trading firms, introducing brokers)

Role

Broker-dealer / clearing broker / platform operator

Revenue share

100%

Side-by-side metrics

Air Liquide S.A.
Interactive Brokers Group, Inc.
Ticker / Exchange
AI - Euronext Paris
IBKR - NASDAQ
Market cap (USD)
$91.6B
$121.7B
Gross margin (TTM)
n/a
89%
Operating margin (TTM)
n/a
82.7%
Net margin (TTM)
n/a
9.2%
Sector
Materials
Financials
Industry
Chemicals - Specialty
Investment - Banking & Investment Services
HQ country
FR
US
Primary segment
Industrial Merchant
Electronic brokerage
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
58 / 100
60 / 100
Moat domains
Demand, Supply, Legal
Supply, Network, Legal, Demand
Last update
2026-01-08
2026-01-06

Moat coverage

Shared moat types

Operational ExcellenceCompliance Advantage

Air Liquide S.A. strengths

Long Term ContractsPhysical Network DensityScale Economies Unit CostDistribution ControlService Field NetworkDesign In QualificationSupply Chain ControlIP Choke PointCapex Knowhow ScaleScope Economies

Interactive Brokers Group, Inc. strengths

Interoperability HubData 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%

Interactive Brokers Group, Inc. segments

Full profile >

Electronic brokerage

Competitive

100%

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.