VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Air Products and Chemicals, Inc. vs The Home Depot, 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.

Full stock profile

Dive deeper into Air Products and Chemicals, Inc.'s moat claims, evidence, and risks.

View APD analysis

The Home Depot, Inc.

HD · New York Stock Exchange

Market cap (USD)$345.9B
SectorConsumer
CountryUS
Data as of2025-12-30
Moat score
69/ 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 The Home Depot, Inc.'s moat claims, evidence, and risks.

View HD analysis

Comparison highlights

  • Moat score gap: Air Products and Chemicals, Inc. leads (70 / 100 vs 69 / 100 for The Home Depot, Inc.).
  • Segment focus: Air Products and Chemicals, Inc. has 3 segments (51.3% in On-site industrial gases (incl. pipelines)); The Home Depot, Inc. has 2 segments (96% in Primary segment - North American home improvement retail (stores + online)).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Weak.
  • Moat breadth: Air Products and Chemicals, Inc. has 6 moat types across 3 domains; The Home Depot, Inc. has 4 across 2.

Primary market context

Air Products and Chemicals, Inc.

On-site industrial gases (incl. pipelines)

Market

On-site supply of industrial gases (oxygen, nitrogen, hydrogen, etc.)

Geography

Global

Customer

Large-volume industrial customers (refining, chemicals, metals, electronics)

Role

Producer / operator of on-site plants and pipeline networks

Revenue share

51.3%

The Home Depot, Inc.

Primary segment - North American home improvement retail (stores + online)

Market

Home improvement retail (omnichannel)

Geography

North America (US, Canada, Mexico)

Customer

DIY homeowners and professional contractors

Role

Retailer

Revenue share

96%

Side-by-side metrics

Air Products and Chemicals, Inc.
The Home Depot, Inc.
Ticker / Exchange
APD - New York Stock Exchange
HD - New York Stock Exchange
Market cap (USD)
$55.1B
$345.9B
Sector
Materials
Consumer
HQ country
US
US
Primary segment
On-site industrial gases (incl. pipelines)
Primary segment - North American home improvement retail (stores + online)
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Weak
Moat score
70 / 100
69 / 100
Moat domains
Demand, Legal, Supply
Supply, Demand
Last update
2025-12-27
2025-12-30

Moat coverage

Shared moat types

Physical Network Density

Air Products and Chemicals, Inc. strengths

Long Term ContractsPermits Rights Of WayCapex Knowhow ScaleInstalled Base ConsumablesOperational Excellence

The Home Depot, Inc. strengths

Distribution ControlProcurement InertiaScale Economies Unit Cost

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%

The Home Depot, Inc. segments

Full profile >

Primary segment - North American home improvement retail (stores + online)

Competitive

96%

Other - Specialty trade distribution (SRS: roofing, landscape, pool)

Competitive

4%

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

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.