VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, December 30, 2025

Stock Comparison

British American Tobacco p.l.c. vs Linde plc

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

British American Tobacco p.l.c.

BATS · London Stock Exchange

Market cap (USD)
SectorConsumer
CountryGB
Data as of2025-12-30
Moat score
71/ 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 British American Tobacco p.l.c.'s moat claims, evidence, and risks.

View BATS analysis

Linde plc

LIN · Nasdaq Stock Market

Market cap (USD)
SectorMaterials
CountryIE
Data as of2025-12-29
Moat score
72/ 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 Linde plc's moat claims, evidence, and risks.

View LIN analysis

Comparison highlights

  • Moat score gap: Linde plc leads (72 / 100 vs 71 / 100 for British American Tobacco p.l.c.).
  • Segment focus: British American Tobacco p.l.c. has 6 segments (80% in Combustibles); Linde plc has 4 segments (43.8% in Americas).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: British American Tobacco p.l.c. has 6 moat types across 3 domains; Linde plc has 5 across 3.

Primary market context

British American Tobacco p.l.c.

Combustibles

Market

Combustible tobacco (cigarettes and other combustible products)

Geography

Global

Customer

Adult nicotine consumers via retail/wholesale channels

Role

Manufacturer / brand owner

Revenue share

80%

Linde plc

Americas

Market

Industrial gases (Americas)

Geography

Americas

Customer

B2B + healthcare

Role

Producer, distributor, on-site plant owner/operator

Revenue share

43.8%

Side-by-side metrics

British American Tobacco p.l.c.
Linde plc
Ticker / Exchange
BATS - London Stock Exchange
LIN - Nasdaq Stock Market
Market cap (USD)
n/a
n/a
Sector
Consumer
Materials
HQ country
GB
IE
Primary segment
Combustibles
Americas
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
71 / 100
72 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply, Legal
Last update
2025-12-30
2025-12-29

Moat coverage

Shared moat types

No overlap yet.

British American Tobacco p.l.c. strengths

Brand TrustDistribution ControlCompliance AdvantageInstalled Base ConsumablesOperational ExcellenceCapability adjacency

Linde plc strengths

Long Term ContractsPhysical Network DensityScale Economies Unit CostCapex Knowhow ScaleIP Choke Point

Segment mix

British American Tobacco p.l.c. segments

Full profile >

Combustibles

Oligopoly

80%

Vapour

Competitive

6.7%

Heated Products

Oligopoly

3.6%

Modern Oral

Oligopoly

3.1%

Traditional Oral

Oligopoly

4.2%

Other

Competitive

2.5%

Linde plc segments

Full profile >

Americas

Oligopoly

43.8%

EMEA

Oligopoly

25.3%

APAC

Oligopoly

20.1%

Engineering

Competitive

7%

Want the full wide moat stocks list?

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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.