VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Air Products and Chemicals, Inc. vs Live Nation Entertainment, 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)$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

Live Nation Entertainment, Inc.

LYV · New York Stock Exchange

Market cap (USD)$33.7B
Gross margin (TTM)46.2%
Operating margin (TTM)4.7%
Net margin (TTM)3.7%
SectorCommunication Services
IndustryEntertainment
CountryUS
Data as of2026-01-04
Moat score
84/ 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 Live Nation Entertainment, Inc.'s moat claims, evidence, and risks.

View LYV analysis

Comparison highlights

  • Moat score gap: Live Nation Entertainment, Inc. leads (84 / 100 vs 70 / 100 for Air Products and Chemicals, Inc.).
  • Segment focus: Air Products and Chemicals, Inc. has 3 segments (51.3% in On-site industrial gases (incl. pipelines)); Live Nation Entertainment, Inc. has 3 segments (82.2% in Concerts).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Air Products and Chemicals, Inc. has 6 moat types across 3 domains; Live Nation Entertainment, Inc. has 6 across 3.

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%

Live Nation Entertainment, Inc.

Concerts

Market

Live music concert promotion, festival production, and music venue operations

Geography

Global

Customer

Artists/agents (supply) and fans (end-users); venues and festivals; corporate partners

Role

Promoter + venue operator

Revenue share

82.2%

Side-by-side metrics

Air Products and Chemicals, Inc.
Live Nation Entertainment, Inc.
Ticker / Exchange
APD - New York Stock Exchange
LYV - New York Stock Exchange
Market cap (USD)
$56.5B
$33.7B
Gross margin (TTM)
31.4%
46.2%
Operating margin (TTM)
-7.3%
4.7%
Net margin (TTM)
-3.3%
3.7%
Sector
Materials
Communication Services
Industry
Chemicals - Specialty
Entertainment
HQ country
US
US
Primary segment
On-site industrial gases (incl. pipelines)
Concerts
Market structure
Oligopoly
Oligopoly
Market share
n/a
55%-65% (reported)
HHI estimate
n/a
3,600
Pricing power
Strong
Moderate
Moat score
70 / 100
84 / 100
Moat domains
Demand, Legal, Supply
Supply, Demand, Network
Last update
2025-12-27
2026-01-04

Moat coverage

Shared moat types

Long Term ContractsPhysical Network Density

Air Products and Chemicals, Inc. strengths

Permits Rights Of WayCapex Knowhow ScaleInstalled Base ConsumablesOperational Excellence

Live Nation Entertainment, Inc. strengths

Service Field NetworkTwo Sided NetworkData Workflow LockinScope Economies

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%

Live Nation Entertainment, Inc. segments

Full profile >

Concerts

Oligopoly

82.2%

Ticketing

Quasi-Monopoly

12.9%

Sponsorship & Advertising

Competitive

5.2%

Want the full wide moat stocks list?

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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.