VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Enbridge Inc. vs Halma plc

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)$143.6B
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

Halma plc

HLMA · London Stock Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryGB
Data as of2026-01-02
Moat score
59/ 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 Halma plc's moat claims, evidence, and risks.

View HLMA analysis

Comparison highlights

  • Moat score gap: Enbridge Inc. leads (92 / 100 vs 59 / 100 for Halma plc).
  • Segment focus: Enbridge Inc. has 4 segments (72.8% in Liquids Pipelines); Halma plc has 3 segments (40% in Safety).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Enbridge Inc. has 6 moat types across 3 domains; Halma plc has 4 across 2.

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%

Halma plc

Safety

Market

Safety technologies (fire safety, public safety, worker safety, and protection of critical assets/infrastructure)

Geography

Global

Customer

Commercial/industrial facility owners and operators; infrastructure operators; installers and OEM channels

Role

Technology OEM / component + systems supplier

Revenue share

40%

Side-by-side metrics

Enbridge Inc.
Halma plc
Ticker / Exchange
ENB - Toronto Stock Exchange
HLMA - London Stock Exchange
Market cap (USD)
$143.6B
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
Technology
Industry
Oil & Gas Midstream
n/a
HQ country
CA
GB
Primary segment
Liquids Pipelines
Safety
Market structure
Oligopoly
Competitive
Market share
29%-31% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
92 / 100
59 / 100
Moat domains
Legal, Supply, Demand
Legal, Demand
Last update
2025-12-31
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Enbridge Inc. strengths

Permits Rights Of WayPhysical Network DensityLong Term ContractsRegulated Standards PipeConcession LicenseCapex Knowhow Scale

Halma plc strengths

Compliance AdvantageDesign In QualificationProcurement InertiaSwitching Costs General

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%

Halma plc segments

Full profile >

Safety

Competitive

40%

Environmental & Analysis

Competitive

35%

Healthcare

Competitive

25%

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.