VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Sunday, December 28, 2025

Stock Comparison

Air Products and Chemicals, Inc. vs LPL Financial 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 >

LPL Financial Holdings Inc.

LPLA · Nasdaq

Market cap (USD)$29.9B
SectorFinancials
CountryUS
Data as of2025-12-26
Moat score
79/ 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.
LPL Financial Holdings Inc.
Ticker / Exchange
APD - New York Stock Exchange
LPLA - Nasdaq
Market cap (USD)
$55.1B
$29.9B
Sector
Materials
Financials
HQ country
US
US
Primary segment
On-site industrial gases (incl. pipelines)
Advisor Platform
Market structure
Oligopoly
Oligopoly
Market share
n/a
23%-25% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
70 / 100
79 / 100
Moat domains
Demand, Legal, Supply
Supply, Demand, Legal, Network
Last update
2025-12-27
2025-12-26

Moat coverage

Shared moat types

Operational Excellence

Air Products and Chemicals, Inc. strengths

Long Term ContractsPermits Rights Of WayCapex Knowhow ScalePhysical Network DensityInstalled Base Consumables

LPL Financial Holdings Inc. strengths

Scale Economies Unit CostSuite BundlingCompliance AdvantageTwo Sided NetworkSwitching Costs General

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%

LPL Financial Holdings Inc. segments

Full profile >

Advisor Platform

Oligopoly

100%

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.