VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Air Liquide S.A. vs MTU Aero Engines AG

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

MTU Aero Engines AG

MTX · Deutsche Boerse XETRA

Market cap (USD)$20.6B
Gross margin (TTM)12.7%
Operating margin (TTM)3%
Net margin (TTM)6.1%
SectorIndustrials
IndustryAerospace & Defense
CountryDE
Data as of2025-12-28
Moat score
61/ 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 MTU Aero Engines AG's moat claims, evidence, and risks.

View MTX analysis

Comparison highlights

  • Moat score gap: MTU Aero Engines AG leads (61 / 100 vs 58 / 100 for Air Liquide S.A.).
  • Segment focus: Air Liquide S.A. has 6 segments (44% in Industrial Merchant); MTU Aero Engines AG has 2 segments (67.4% in MRO business (commercial maintenance)).
  • Moat breadth: Air Liquide S.A. has 12 moat types across 3 domains; MTU Aero Engines AG has 8 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%

MTU Aero Engines AG

MRO business (commercial maintenance)

Market

Commercial aircraft engine maintenance, repair and overhaul (engine MRO) and associated services

Geography

Global

Customer

Airlines, lessors and engine owners/operators

Role

Aftermarket service provider (engine shop visits, repairs, on-wing services, leasing/asset management)

Revenue share

67.4%

Side-by-side metrics

Air Liquide S.A.
MTU Aero Engines AG
Ticker / Exchange
AI - Euronext Paris
MTX - Deutsche Boerse XETRA
Market cap (USD)
$91.6B
$20.6B
Gross margin (TTM)
n/a
12.7%
Operating margin (TTM)
n/a
3%
Net margin (TTM)
n/a
6.1%
Sector
Materials
Industrials
Industry
Chemicals - Specialty
Aerospace & Defense
HQ country
FR
DE
Primary segment
Industrial Merchant
MRO business (commercial maintenance)
Market structure
Competitive
Competitive
Market share
n/a
10% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
58 / 100
61 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply, Legal
Last update
2026-01-08
2025-12-28

Moat coverage

Shared moat types

Long Term ContractsOperational ExcellenceService Field NetworkDesign In QualificationCapex Knowhow ScaleScope Economies

Air Liquide S.A. strengths

Physical Network DensityScale Economies Unit CostDistribution ControlCompliance AdvantageSupply Chain ControlIP Choke Point

MTU Aero Engines AG strengths

Government Contracting RelationshipsPreferential Input Access

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%

MTU Aero Engines AG segments

Full profile >

OEM business (commercial and military engine business)

Oligopoly

32.6%

MRO business (commercial maintenance)

Competitive

67.4%

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.