VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Ecolab Inc. vs Enbridge Inc.

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

Ecolab Inc.

ECL · New York Stock Exchange

Market cap (USD)
Gross margin (TTM)44.3%
Operating margin (TTM)17.3%
Net margin (TTM)12.5%
SectorMaterials
CountryUS
Data as of2026-01-01
Moat score
63/ 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 Ecolab Inc.'s moat claims, evidence, and risks.

View ECL analysis

Enbridge Inc.

ENB · Toronto Stock Exchange

Market cap (USD)$104.9B
Gross margin (TTM)35.2%
Operating margin (TTM)17.5%
Net margin (TTM)9.4%
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 63 / 100 for Ecolab Inc.).
  • Segment focus: Ecolab Inc. has 4 segments (49.5% in Global Industrial); Enbridge Inc. has 4 segments (72.8% in Liquids Pipelines).
  • Moat breadth: Ecolab Inc. has 7 moat types across 3 domains; Enbridge Inc. has 6 across 3.

Primary market context

Ecolab Inc.

Global Industrial

Market

Industrial water treatment & process chemistry (incl. food & beverage processing and pulp & paper process aids)

Geography

Global

Customer

B2B

Role

formulator + on-site service/optimization provider

Revenue share

49.5%

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

Ecolab Inc.
Enbridge Inc.
Ticker / Exchange
ECL - New York Stock Exchange
ENB - Toronto Stock Exchange
Market cap (USD)
n/a
$104.9B
Gross margin (TTM)
44.3%
35.2%
Operating margin (TTM)
17.3%
17.5%
Net margin (TTM)
12.5%
9.4%
Sector
Materials
Energy
HQ country
US
CA
Primary segment
Global Industrial
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
63 / 100
92 / 100
Moat domains
Supply, Demand, Legal
Legal, Supply, Demand
Last update
2026-01-01
2025-12-31

Moat coverage

Shared moat types

Long Term Contracts

Ecolab Inc. strengths

Service Field NetworkData Workflow LockinCompliance AdvantageInstalled Base ConsumablesTraining Org Change CostsBrand Trust

Enbridge Inc. strengths

Permits Rights Of WayPhysical Network DensityRegulated Standards PipeConcession LicenseCapex Knowhow Scale

Segment mix

Ecolab Inc. segments

Full profile >

Global Industrial

Oligopoly

49.5%

Global Institutional & Specialty

Oligopoly

34.1%

Global Healthcare & Life Sciences

Oligopoly

9%

Global Pest Elimination

Oligopoly

7.4%

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.