VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

VINCI SA vs Enbridge Inc.

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

VINCI SA

DG · Euronext Paris

Market cap (USD)$67.5B
Gross margin (TTM)16%
Operating margin (TTM)12.1%
Net margin (TTM)6.5%
SectorIndustrials
IndustryEngineering & Construction
CountryFR
Data as of2026-01-03
Moat score
57/ 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 VINCI SA's moat claims, evidence, and risks.

View DG analysis

Enbridge Inc.

ENB · Toronto Stock Exchange

Market cap (USD)$139.7B
Gross margin (TTM)35.2%
Operating margin (TTM)17.5%
Net margin (TTM)9.4%
SectorEnergy
IndustryOil & Gas Midstream
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 57 / 100 for VINCI SA).
  • Segment focus: VINCI SA has 7 segments (44.4% in VINCI Construction); Enbridge Inc. has 4 segments (72.8% in Liquids Pipelines).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: VINCI SA has 7 moat types across 2 domains; Enbridge Inc. has 6 across 3.

Primary market context

VINCI SA

VINCI Construction

Market

Construction and civil engineering contracting (buildings, infrastructure and specialty networks)

Geography

Global

Customer

Public-sector project owners and private developers/industrial clients

Role

General contractor / civil engineering contractor

Revenue share

44.4%

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

VINCI SA
Enbridge Inc.
Ticker / Exchange
DG - Euronext Paris
ENB - Toronto Stock Exchange
Market cap (USD)
$67.5B
$139.7B
Gross margin (TTM)
16%
35.2%
Operating margin (TTM)
12.1%
17.5%
Net margin (TTM)
6.5%
9.4%
Sector
Industrials
Energy
Industry
Engineering & Construction
Oil & Gas Midstream
HQ country
FR
CA
Primary segment
VINCI Construction
Liquids Pipelines
Market structure
Competitive
Oligopoly
Market share
n/a
29%-31% (reported)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
57 / 100
92 / 100
Moat domains
Legal, Supply
Legal, Supply, Demand
Last update
2026-01-03
2025-12-31

Moat coverage

Shared moat types

Concession LicensePermits Rights Of WayCapex Knowhow Scale

VINCI SA strengths

Operational ExcellenceService Field NetworkCapacity MoatCompliance Advantage

Enbridge Inc. strengths

Physical Network DensityLong Term ContractsRegulated Standards Pipe

Segment mix

VINCI SA segments

Full profile >

VINCI Autoroutes

Monopoly

9.2%

VINCI Airports

Oligopoly

6.3%

Other concessions (incl. VINCI Highways and PPP assets)

Competitive

0.8%

VINCI Energies

Competitive

28.4%

Cobra IS

Competitive

9.9%

VINCI Construction

Competitive

44.4%

VINCI Immobilier

Competitive

1.6%

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?

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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.