VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Enbridge Inc. vs FedEx Corporation

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

Enbridge Inc.

ENB · Toronto Stock Exchange

Market cap (USD)$138.5B
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

FedEx Corporation

FDX · New York Stock Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryUS
Data as of2026-01-10
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 FedEx Corporation's moat claims, evidence, and risks.

View FDX analysis

Comparison highlights

  • Moat score gap: Enbridge Inc. leads (92 / 100 vs 72 / 100 for FedEx Corporation).
  • Segment focus: Enbridge Inc. has 4 segments (72.8% in Liquids Pipelines); FedEx Corporation has 3 segments (85.6% in Federal Express (integrated parcel & express)).
  • Moat breadth: Enbridge Inc. has 6 moat types across 3 domains; FedEx Corporation has 6 across 4.

Primary market context

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%

FedEx Corporation

Federal Express (integrated parcel & express)

Market

Integrated parcel and express delivery (air-ground integrator model)

Geography

Global

Customer

Business and consumer shippers

Role

Carrier / integrator

Revenue share

85.6%

Side-by-side metrics

Enbridge Inc.
FedEx Corporation
Ticker / Exchange
ENB - Toronto Stock Exchange
FDX - New York Stock Exchange
Market cap (USD)
$138.5B
n/a
Gross margin (TTM)
35.2%
n/a
Operating margin (TTM)
17.5%
n/a
Net margin (TTM)
9.4%
n/a
Sector
Energy
Industrials
Industry
Oil & Gas Midstream
n/a
HQ country
CA
US
Primary segment
Liquids Pipelines
Federal Express (integrated parcel & express)
Market structure
Oligopoly
Oligopoly
Market share
29%-31% (reported)
18% (reported)
HHI estimate
n/a
2,464
Pricing power
Moderate
Moderate
Moat score
92 / 100
72 / 100
Moat domains
Legal, Supply, Demand
Supply, Demand, Financial, Network
Last update
2025-12-31
2026-01-10

Moat coverage

Shared moat types

Physical Network Density

Enbridge Inc. strengths

Permits Rights Of WayLong Term ContractsRegulated Standards PipeConcession LicenseCapex Knowhow Scale

FedEx Corporation strengths

Scale Economies Unit CostBrand TrustBenchmark Pricing PowerScope EconomiesData Network Effects

Segment mix

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%

FedEx Corporation segments

Full profile >

Federal Express (integrated parcel & express)

Oligopoly

85.6%

FedEx Freight (LTL)

Oligopoly

10.1%

Corporate, other, and eliminations (Dataworks, Office, Logistics)

Competitive

4.2%

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that work.

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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.