VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

Enbridge Inc. vs Honeywell International Inc.

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

Honeywell International Inc.

HON · The Nasdaq Stock Market LLC

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryUS
Data as of2026-01-02
Moat score
58/ 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 Honeywell International Inc.'s moat claims, evidence, and risks.

View HON analysis

Comparison highlights

  • Moat score gap: Enbridge Inc. leads (92 / 100 vs 58 / 100 for Honeywell International Inc.).
  • Segment focus: Enbridge Inc. has 4 segments (72.8% in Liquids Pipelines); Honeywell International Inc. has 4 segments (40.2% in Aerospace Technologies).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Enbridge Inc. has 6 moat types across 3 domains; Honeywell International Inc. has 9 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%

Honeywell International Inc.

Aerospace Technologies

Market

Aerospace systems, avionics, propulsion & aftermarket MRO services

Geography

Global

Customer

Aircraft OEMs, airlines/operators, defense & space contractors

Role

Tier-1 supplier + aftermarket service provider

Revenue share

40.2%

Side-by-side metrics

Enbridge Inc.
Honeywell International Inc.
Ticker / Exchange
ENB - Toronto Stock Exchange
HON - The Nasdaq Stock Market LLC
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
Industrials
Industry
Oil & Gas Midstream
n/a
HQ country
CA
US
Primary segment
Liquids Pipelines
Aerospace Technologies
Market structure
Oligopoly
Oligopoly
Market share
29%-31% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
92 / 100
58 / 100
Moat domains
Legal, Supply, Demand
Demand, Legal
Last update
2025-12-31
2026-01-02

Moat coverage

Shared moat types

Long Term ContractsRegulated Standards Pipe

Enbridge Inc. strengths

Permits Rights Of WayPhysical Network DensityConcession LicenseCapex Knowhow Scale

Honeywell International Inc. strengths

Installed Base ConsumablesData Workflow LockinSuite BundlingBrand TrustSwitching Costs GeneralIP Choke PointDesign In Qualification

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%

Honeywell International Inc. segments

Full profile >

Aerospace Technologies

Oligopoly

40.2%

Industrial Automation

Competitive

26.1%

Building Automation

Oligopoly

17%

Energy and Sustainability Solutions

Oligopoly

16.7%

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.