VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Air Liquide S.A. vs Ferrari N.V.

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

Ferrari N.V.

RACE · New York Stock Exchange

Market cap (USD)$67.2B
Gross margin (TTM)51.3%
Operating margin (TTM)29.3%
Net margin (TTM)22.6%
SectorConsumer
IndustryAuto - Manufacturers
CountryNL
Data as of2025-12-31
Moat score
81/ 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 Ferrari N.V.'s moat claims, evidence, and risks.

View RACE analysis

Comparison highlights

  • Moat score gap: Ferrari N.V. leads (81 / 100 vs 58 / 100 for Air Liquide S.A.).
  • Segment focus: Air Liquide S.A. has 6 segments (44% in Industrial Merchant); Ferrari N.V. has 3 segments (85.8% in Cars and spare parts).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Air Liquide S.A. has 12 moat types across 3 domains; Ferrari N.V. has 5 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%

Ferrari N.V.

Cars and spare parts

Market

Luxury performance cars and OEM spare parts/after-sales

Geography

Global

Customer

High-net-worth individuals and collectors; sales and service via authorized dealers

Role

OEM / brand owner with selective dealer distribution

Revenue share

85.8%

Side-by-side metrics

Air Liquide S.A.
Ferrari N.V.
Ticker / Exchange
AI - Euronext Paris
RACE - New York Stock Exchange
Market cap (USD)
$91.6B
$67.2B
Gross margin (TTM)
n/a
51.3%
Operating margin (TTM)
n/a
29.3%
Net margin (TTM)
n/a
22.6%
Sector
Materials
Consumer
Industry
Chemicals - Specialty
Auto - Manufacturers
HQ country
FR
NL
Primary segment
Industrial Merchant
Cars and spare parts
Market structure
Competitive
Oligopoly
Market share
n/a
23% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
58 / 100
81 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply, Legal
Last update
2026-01-08
2025-12-31

Moat coverage

Shared moat types

Distribution ControlIP Choke Point

Air Liquide S.A. strengths

Long Term ContractsPhysical Network DensityScale Economies Unit CostOperational ExcellenceService Field NetworkCompliance AdvantageDesign In QualificationSupply Chain ControlCapex Knowhow ScaleScope Economies

Ferrari N.V. strengths

Brand TrustCapacity MoatInstalled Base Consumables

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%

Ferrari N.V. segments

Full profile >

Cars and spare parts

Oligopoly

85.8%

Sponsorship, commercial and brand

Competitive

10%

Other

Competitive

4.2%

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.