VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Caterpillar Inc. vs Enbridge Inc.

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

Caterpillar Inc.

CAT · New York Stock Exchange

Market cap (USD)
SectorIndustrials
CountryUS
Data as of2025-12-25
Moat score
68/ 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 Caterpillar Inc.'s moat claims, evidence, and risks.

View CAT analysis

Enbridge Inc.

ENB · Toronto Stock Exchange

Market cap (USD)$104.9B
SectorEnergy
CountryCA
Data as of2025-12-31
Moat score
92/ 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 Enbridge Inc.'s moat claims, evidence, and risks.

View ENB analysis

Comparison highlights

  • Moat score gap: Enbridge Inc. leads (92 / 100 vs 68 / 100 for Caterpillar Inc.).
  • Segment focus: Caterpillar Inc. has 5 segments (40.7% in Energy & Transportation); Enbridge Inc. has 4 segments (72.8% in Liquids Pipelines).
  • Moat breadth: Caterpillar Inc. has 9 moat types across 4 domains; Enbridge Inc. has 6 across 3.

Primary market context

Caterpillar Inc.

Energy & Transportation

Market

Off-highway engines, power generation, turbines, locomotives and related services

Geography

Global

Customer

Energy companies, industrial customers, OEMs, rail and marine operators

Role

OEM + aftermarket parts/service

Revenue share

40.7%

Enbridge Inc.

Liquids Pipelines

Market

Crude oil & liquids pipeline transportation plus terminals/storage

Geography

North America (Canada & U.S.)

Customer

Producers, refiners, marketers (shippers)

Role

Midstream pipeline operator

Revenue share

72.8%

Side-by-side metrics

Caterpillar Inc.
Enbridge Inc.
Ticker / Exchange
CAT - New York Stock Exchange
ENB - Toronto Stock Exchange
Market cap (USD)
n/a
$104.9B
Sector
Industrials
Energy
HQ country
US
CA
Primary segment
Energy & Transportation
Liquids Pipelines
Market structure
Oligopoly
Oligopoly
Market share
n/a
29%-31% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
68 / 100
92 / 100
Moat domains
Supply, Demand, Financial, Network
Legal, Supply, Demand
Last update
2025-12-25
2025-12-31

Moat coverage

Shared moat types

Capex Knowhow Scale

Caterpillar Inc. strengths

Distribution ControlInstalled Base ConsumablesBrand TrustService Field NetworkDesign In QualificationSuite BundlingUnderwriting Risk PoolingEcosystem Complements

Enbridge Inc. strengths

Permits Rights Of WayPhysical Network DensityLong Term ContractsRegulated Standards PipeConcession License

Segment mix

Caterpillar Inc. segments

Full profile >

Construction Industries

Oligopoly

35.9%

Resource Industries

Oligopoly

17.5%

Energy & Transportation

Oligopoly

40.7%

Financial Products

Competitive

5.3%

All Other

Competitive

0.6%

Enbridge Inc. segments

Full profile >

Liquids Pipelines

Oligopoly

72.8%

Gas Transmission and Midstream

Oligopoly

11.8%

Gas Distribution and Storage

Monopoly

14.4%

Renewable Power Generation

Competitive

1%

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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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.