VOL. XCIV, NO. 247
★ WIDE MOAT STOCKS COMPARISON ★
NO ADVICE
Saturday, January 10, 2026
Stock Comparison
Air Liquide S.A. vs Waters Corporation
Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.
Air Liquide S.A.
AI · Euronext Paris
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 analysisWaters Corporation
WAT · New York Stock Exchange
Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.
Full stock profile
Dive deeper into Waters Corporation's moat claims, evidence, and risks.
View WAT analysisComparison highlights
- Moat score gap: Waters Corporation leads (66 / 100 vs 58 / 100 for Air Liquide S.A.).
- Segment focus: Air Liquide S.A. has 6 segments (44% in Industrial Merchant); Waters Corporation has 4 segments (34.9% in Waters instrument systems).
- Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
- Moat breadth: Air Liquide S.A. has 12 moat types across 3 domains; Waters Corporation has 7 across 2.
Primary market context
Air Liquide S.A.
Industrial Merchant
Merchant industrial and medical gases distribution (cylinders, bulk liquids) plus related equipment and services
Global (local/regional distribution markets)
SMEs and mid-market industrial customers, contractors, labs, and public sector buyers
Distributor + producer (last-mile logistics, cylinder assets, bulk delivery)
44%
Waters Corporation
Waters instrument systems
Liquid chromatography (LC/UPLC) and mass spectrometry (MS) analytical instrument systems (including LC-MS workflows and instrument control/data system software)
Global
Pharma/biotech, industrial, academic and government laboratories
OEM + software/platform provider
34.9%
Side-by-side metrics
Moat coverage
Shared moat types
Air Liquide S.A. strengths
Waters Corporation strengths
Segment mix
Air Liquide S.A. segments
Full profile >Large Industries
Oligopoly
Industrial Merchant
Competitive
Healthcare
Competitive
Electronics
Oligopoly
Engineering & Construction
Competitive
Global Markets & Technologies
Competitive
Waters Corporation segments
Full profile >Waters instrument systems
Oligopoly
Chemistry consumables
Competitive
Waters service & software maintenance
Competitive
TA instrument systems & service
Oligopoly
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Proven models entering the expansion stage with unit economics that work.
View expansion-stage stocksCuration & 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.