VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

Enbridge Inc. vs KONE Oyj

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

KONE Oyj

KNEBV · Nasdaq Helsinki

Market cap (USD)$37B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorIndustrials
Industry
CountryFI
Data as of2026-01-02
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 KONE Oyj's moat claims, evidence, and risks.

View KNEBV analysis

Comparison highlights

  • Moat score gap: Enbridge Inc. leads (92 / 100 vs 63 / 100 for KONE Oyj).
  • Segment focus: Enbridge Inc. has 4 segments (72.8% in Liquids Pipelines); KONE Oyj has 3 segments (40.6% in New Building Solutions).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Weak.
  • Moat breadth: Enbridge Inc. has 6 moat types across 3 domains; KONE Oyj has 8 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%

KONE Oyj

New Building Solutions

Market

Elevator, escalator and automatic building door new equipment (new installations)

Geography

Global

Customer

Property developers and general contractors

Role

OEM + project installation

Revenue share

40.6%

Side-by-side metrics

Enbridge Inc.
KONE Oyj
Ticker / Exchange
ENB - Toronto Stock Exchange
KNEBV - Nasdaq Helsinki
Market cap (USD)
$143.6B
$37B
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
FI
Primary segment
Liquids Pipelines
New Building Solutions
Market structure
Oligopoly
Oligopoly
Market share
29%-31% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
92 / 100
63 / 100
Moat domains
Legal, Supply, Demand
Supply, Financial, Demand, Legal
Last update
2025-12-31
2026-01-02

Moat coverage

Shared moat types

Capex Knowhow Scale

Enbridge Inc. strengths

Permits Rights Of WayPhysical Network DensityLong Term ContractsRegulated Standards PipeConcession License

KONE Oyj strengths

Negative Working CapitalInstalled Base ConsumablesSwitching Costs GeneralData Workflow LockinService Field NetworkOperational ExcellenceCompliance Advantage

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%

KONE Oyj segments

Full profile >

New Building Solutions

Oligopoly

40.6%

Service (maintenance & repairs)

Competitive

40.6%

Modernization

Competitive

18.8%

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.