VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Ecolab Inc. vs SAP SE

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

SAP SE

SAP · XETRA

Market cap (USD)$285.7B
Gross margin (TTM)73.6%
Operating margin (TTM)25.8%
Net margin (TTM)19.4%
SectorTechnology
CountryDE
Data as of2025-12-30
Moat score
65/ 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 SAP SE's moat claims, evidence, and risks.

View SAP analysis

Comparison highlights

  • Moat score gap: SAP SE leads (65 / 100 vs 63 / 100 for Ecolab Inc.).
  • Segment focus: Ecolab Inc. has 4 segments (49.5% in Global Industrial); SAP SE has 2 segments (87.3% in Cloud and Software).
  • Moat breadth: Ecolab Inc. has 7 moat types across 3 domains; SAP SE 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%

SAP SE

Cloud and Software

Market

Enterprise application software suites and cloud subscriptions (ERP-centric) plus platform services

Geography

Global

Customer

Large enterprises and upper mid-market

Role

Software vendor (SaaS + on-prem support + platform)

Revenue share

87.3%

Side-by-side metrics

Ecolab Inc.
SAP SE
Ticker / Exchange
ECL - New York Stock Exchange
SAP - XETRA
Market cap (USD)
n/a
$285.7B
Gross margin (TTM)
44.3%
73.6%
Operating margin (TTM)
17.3%
25.8%
Net margin (TTM)
12.5%
19.4%
Sector
Materials
Technology
HQ country
US
DE
Primary segment
Global Industrial
Cloud and Software
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
65 / 100
Moat domains
Supply, Demand, Legal
Demand, Network, Legal
Last update
2026-01-01
2025-12-30

Moat coverage

Shared moat types

Data Workflow LockinCompliance AdvantageLong Term ContractsBrand Trust

Ecolab Inc. strengths

Service Field NetworkInstalled Base ConsumablesTraining Org Change Costs

SAP SE strengths

Suite BundlingEcosystem Complements

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%

SAP SE segments

Full profile >

Cloud and Software

Oligopoly

87.3%

Services

Competitive

12.7%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

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.