VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Enbridge Inc. vs Philip Morris 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)$104.9B
SectorEnergy
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

Philip Morris International Inc.

PM · New York Stock Exchange

Market cap (USD)
SectorConsumer
CountryUS
Data as of2025-12-31
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 Philip Morris International Inc.'s moat claims, evidence, and risks.

View PM analysis

Comparison highlights

  • Moat score gap: Enbridge Inc. leads (92 / 100 vs 84 / 100 for Philip Morris International Inc.).
  • Segment focus: Enbridge Inc. has 4 segments (72.8% in Liquids Pipelines); Philip Morris International Inc. has 3 segments (61.3% in Combustible Tobacco).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Enbridge Inc. has 6 moat types across 3 domains; Philip Morris International 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%

Philip Morris International Inc.

Combustible Tobacco

Market

International combustible tobacco (primarily cigarettes)

Geography

Global (primarily ex-U.S.)

Customer

Adult smokers; distributors/wholesalers and retail channels

Role

Branded manufacturer and distributor

Revenue share

61.3%

Side-by-side metrics

Enbridge Inc.
Philip Morris International Inc.
Ticker / Exchange
ENB - Toronto Stock Exchange
PM - New York Stock Exchange
Market cap (USD)
$104.9B
n/a
Sector
Energy
Consumer
HQ country
CA
US
Primary segment
Liquids Pipelines
Combustible Tobacco
Market structure
Oligopoly
Oligopoly
Market share
29%-31% (reported)
25.3% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
92 / 100
84 / 100
Moat domains
Legal, Supply, Demand
Demand, Supply, Legal
Last update
2025-12-31
2025-12-31

Moat coverage

Shared moat types

Regulated Standards Pipe

Enbridge Inc. strengths

Permits Rights Of WayPhysical Network DensityLong Term ContractsConcession LicenseCapex Knowhow Scale

Philip Morris International Inc. strengths

Brand TrustDistribution ControlCompliance AdvantageInstalled Base ConsumablesIP Choke Point

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%

Philip Morris International Inc. segments

Full profile >

Combustible Tobacco

Oligopoly

61.3%

Smoke-Free Products

Oligopoly

37.8%

Wellness & Healthcare

Competitive

0.9%

Want the full wide moat stocks list?

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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.