VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Enbridge Inc. vs Live Nation Entertainment, 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)$139.7B
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

Live Nation Entertainment, Inc.

LYV · New York Stock Exchange

Market cap (USD)$33.7B
Gross margin (TTM)46.2%
Operating margin (TTM)4.7%
Net margin (TTM)3.7%
SectorCommunication Services
IndustryEntertainment
CountryUS
Data as of2026-01-04
Moat score
84/ 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 Live Nation Entertainment, Inc.'s moat claims, evidence, and risks.

View LYV analysis

Comparison highlights

  • Moat score gap: Enbridge Inc. leads (92 / 100 vs 84 / 100 for Live Nation Entertainment, Inc.).
  • Segment focus: Enbridge Inc. has 4 segments (72.8% in Liquids Pipelines); Live Nation Entertainment, Inc. has 3 segments (82.2% in Concerts).
  • Moat breadth: Enbridge Inc. has 6 moat types across 3 domains; Live Nation Entertainment, Inc. has 6 across 3.

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%

Live Nation Entertainment, Inc.

Concerts

Market

Live music concert promotion, festival production, and music venue operations

Geography

Global

Customer

Artists/agents (supply) and fans (end-users); venues and festivals; corporate partners

Role

Promoter + venue operator

Revenue share

82.2%

Side-by-side metrics

Enbridge Inc.
Live Nation Entertainment, Inc.
Ticker / Exchange
ENB - Toronto Stock Exchange
LYV - New York Stock Exchange
Market cap (USD)
$139.7B
$33.7B
Gross margin (TTM)
35.2%
46.2%
Operating margin (TTM)
17.5%
4.7%
Net margin (TTM)
9.4%
3.7%
Sector
Energy
Communication Services
Industry
Oil & Gas Midstream
Entertainment
HQ country
CA
US
Primary segment
Liquids Pipelines
Concerts
Market structure
Oligopoly
Oligopoly
Market share
29%-31% (reported)
55%-65% (reported)
HHI estimate
n/a
3,600
Pricing power
Moderate
Moderate
Moat score
92 / 100
84 / 100
Moat domains
Legal, Supply, Demand
Supply, Demand, Network
Last update
2025-12-31
2026-01-04

Moat coverage

Shared moat types

Physical Network DensityLong Term Contracts

Enbridge Inc. strengths

Permits Rights Of WayRegulated Standards PipeConcession LicenseCapex Knowhow Scale

Live Nation Entertainment, Inc. strengths

Service Field NetworkTwo Sided NetworkData Workflow LockinScope Economies

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%

Live Nation Entertainment, Inc. segments

Full profile >

Concerts

Oligopoly

82.2%

Ticketing

Quasi-Monopoly

12.9%

Sponsorship & Advertising

Competitive

5.2%

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.