VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Sunday, December 28, 2025

Stock Comparison

Air Products and Chemicals, Inc. vs Thermo Fisher Scientific 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 >

Thermo Fisher Scientific Inc.

TMO · New York Stock Exchange

Market cap (USD)$213.3B
SectorHealthcare
CountryUS
Data as of2025-12-22
Moat score
64/ 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.
Thermo Fisher Scientific Inc.
Ticker / Exchange
APD - New York Stock Exchange
TMO - New York Stock Exchange
Market cap (USD)
$55.1B
$213.3B
Sector
Materials
Healthcare
HQ country
US
US
Primary segment
On-site industrial gases (incl. pipelines)
Laboratory Products and Biopharma Services
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
70 / 100
64 / 100
Moat domains
Demand, Legal, Supply
Demand, Supply, Legal
Last update
2025-12-27
2025-12-22

Moat coverage

Shared moat types

Installed Base Consumables

Air Products and Chemicals, Inc. strengths

Long Term ContractsPermits Rights Of WayCapex Knowhow ScalePhysical Network DensityOperational Excellence

Thermo Fisher Scientific Inc. strengths

Format Lock InBrand TrustService Field NetworkRegulated Standards PipeDistribution ControlProcurement InertiaCapacity Moat

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%

Thermo Fisher Scientific Inc. segments

Full profile >

Life Sciences Solutions

Oligopoly

19%

Analytical Instruments

Oligopoly

17%

Specialty Diagnostics

Oligopoly

10.4%

Laboratory Products and Biopharma Services

Competitive

53.6%

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.