VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Air Products and Chemicals, Inc. vs Lifco AB (publ)

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)$56.5B
Gross margin (TTM)31.4%
Operating margin (TTM)-7.3%
Net margin (TTM)-3.3%
SectorMaterials
IndustryChemicals - Specialty
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

Lifco AB (publ)

LIFCO-B · Nasdaq Stockholm

Market cap (USD)$152.8B
Gross margin (TTM)43.9%
Operating margin (TTM)18.4%
Net margin (TTM)12.8%
SectorIndustrials
IndustryConglomerates
CountrySE
Data as of2026-01-06
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 Lifco AB (publ)'s moat claims, evidence, and risks.

View LIFCO-B analysis

Comparison highlights

  • Moat score gap: Air Products and Chemicals, Inc. leads (70 / 100 vs 58 / 100 for Lifco AB (publ)).
  • Segment focus: Air Products and Chemicals, Inc. has 3 segments (51.3% in On-site industrial gases (incl. pipelines)); Lifco AB (publ) has 3 segments (51.2% in Systems Solutions).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: Air Products and Chemicals, Inc. has 6 moat types across 3 domains; Lifco AB (publ) has 8 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%

Lifco AB (publ)

Systems Solutions

Market

Niche B2B systems solutions (contract manufacturing, environmental technology, infrastructure products, special products, transportation products)

Geography

Primarily Europe; global customers where applicable

Customer

B2B OEMs and industrial customers

Role

Niche manufacturer and systems solution provider

Revenue share

51.2%

Side-by-side metrics

Air Products and Chemicals, Inc.
Lifco AB (publ)
Ticker / Exchange
APD - New York Stock Exchange
LIFCO-B - Nasdaq Stockholm
Market cap (USD)
$56.5B
$152.8B
Gross margin (TTM)
31.4%
43.9%
Operating margin (TTM)
-7.3%
18.4%
Net margin (TTM)
-3.3%
12.8%
Sector
Materials
Industrials
Industry
Chemicals - Specialty
Conglomerates
HQ country
US
SE
Primary segment
On-site industrial gases (incl. pipelines)
Systems Solutions
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
70 / 100
58 / 100
Moat domains
Demand, Legal, Supply
Supply, Demand
Last update
2025-12-27
2026-01-06

Moat coverage

Shared moat types

Capex Knowhow ScaleInstalled Base ConsumablesOperational Excellence

Air Products and Chemicals, Inc. strengths

Long Term ContractsPermits Rights Of WayPhysical Network Density

Lifco AB (publ) strengths

Distribution ControlService Field NetworkData Workflow LockinBrand TrustDesign In Qualification

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%

Lifco AB (publ) segments

Full profile >

Dental

Oligopoly

24.1%

Demolition & Tools

Oligopoly

24.7%

Systems Solutions

Competitive

51.2%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.