VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Sunday, December 28, 2025

Stock Comparison

Air Products and Chemicals, Inc. vs Booking Holdings Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Air Products and Chemicals, Inc.

APD · New York Stock Exchange

Market cap (USD)$55.1B
SectorMaterials
CountryUS
Data as of2025-12-27
Moat score
70/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

View full moat analysis >

Booking Holdings Inc.

BKNG · NASDAQ Global Select Market

Market cap (USD)$175.6B
SectorConsumer
CountryUS
Data as of2025-12-25
Moat score
77/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

View full moat analysis >

Side-by-side metrics

Air Products and Chemicals, Inc.
Booking Holdings Inc.
Ticker / Exchange
APD - New York Stock Exchange
BKNG - NASDAQ Global Select Market
Market cap (USD)
$55.1B
$175.6B
Sector
Materials
Consumer
HQ country
US
US
Primary segment
On-site industrial gases (incl. pipelines)
OTC online travel reservations (Booking.com, Priceline, Agoda)
Market structure
Oligopoly
Oligopoly
Market share
n/a
23%-31% (implied)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
70 / 100
77 / 100
Moat domains
Demand, Legal, Supply
Network, Demand, Supply, Financial
Last update
2025-12-27
2025-12-25

Moat coverage

Shared moat types

No overlap yet.

Air Products and Chemicals, Inc. strengths

Long Term ContractsPermits Rights Of WayCapex Knowhow ScalePhysical Network DensityInstalled Base ConsumablesOperational Excellence

Booking Holdings Inc. strengths

Two Sided NetworkBrand TrustHabit DefaultScope EconomiesFloat Prepayment

Segment mix

Air Products and Chemicals, Inc. segments

Full profile >

On-site industrial gases (incl. pipelines)

Oligopoly

51.3%

Merchant gases (liquid bulk + packaged)

Competitive

44.3%

Industrial gases equipment (cryogenic & gas processing)

Competitive

4.3%

Booking Holdings Inc. segments

Full profile >

OTC online travel reservations (Booking.com, Priceline, Agoda)

Oligopoly

95.5%

Metasearch & restaurant reservations (KAYAK, OpenTable)

Competitive

4.5%

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.