VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Air Liquide S.A. vs QUALCOMM Incorporated

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

QUALCOMM Incorporated

QCOM · NASDAQ Global Select Market

Market cap (USD)$190.4B
Gross margin (TTM)55.4%
Operating margin (TTM)27.9%
Net margin (TTM)12.5%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2025-12-30
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 QUALCOMM Incorporated's moat claims, evidence, and risks.

View QCOM analysis

Comparison highlights

  • Moat score gap: QUALCOMM Incorporated leads (70 / 100 vs 58 / 100 for Air Liquide S.A.).
  • Segment focus: Air Liquide S.A. has 6 segments (44% in Industrial Merchant); QUALCOMM Incorporated has 4 segments (62.8% in Handset chipsets (Snapdragon platforms)).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Air Liquide S.A. has 12 moat types across 3 domains; QUALCOMM Incorporated has 7 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%

QUALCOMM Incorporated

Handset chipsets (Snapdragon platforms)

Market

Smartphone application processors and cellular modem/RF platforms

Geography

Global

Customer

Smartphone OEMs

Role

fabless semiconductor/platform supplier

Revenue share

62.8%

Side-by-side metrics

Air Liquide S.A.
QUALCOMM Incorporated
Ticker / Exchange
AI - Euronext Paris
QCOM - NASDAQ Global Select Market
Market cap (USD)
$91.6B
$190.4B
Gross margin (TTM)
n/a
55.4%
Operating margin (TTM)
n/a
27.9%
Net margin (TTM)
n/a
12.5%
Sector
Materials
Technology
Industry
Chemicals - Specialty
Semiconductors
HQ country
FR
US
Primary segment
Industrial Merchant
Handset chipsets (Snapdragon platforms)
Market structure
Competitive
Oligopoly
Market share
n/a
22%-26% (estimated)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
58 / 100
70 / 100
Moat domains
Demand, Supply, Legal
Supply, Network, Demand, Legal
Last update
2026-01-08
2025-12-30

Moat coverage

Shared moat types

Long Term ContractsDesign In QualificationIP Choke PointCapex Knowhow ScaleScope Economies

Air Liquide S.A. strengths

Physical Network DensityScale Economies Unit CostDistribution ControlOperational ExcellenceService Field NetworkCompliance AdvantageSupply Chain Control

QUALCOMM Incorporated strengths

Keystone ComponentEcosystem Complements

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%

QUALCOMM Incorporated segments

Full profile >

Handset chipsets (Snapdragon platforms)

Oligopoly

62.8%

Automotive silicon (connectivity, digital cockpit, ADAS/AD)

Oligopoly

8.9%

IoT silicon (consumer, industrial, edge networking)

Competitive

14.9%

Wireless technology licensing (cellular SEPs, royalties)

Oligopoly

12.6%

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.