VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Enbridge Inc. vs ResMed 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

ResMed Inc.

RMD · New York Stock Exchange

Market cap (USD)$36B
Gross margin (TTM)60.1%
Operating margin (TTM)33.2%
Net margin (TTM)27.4%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryUS
Data as of2026-01-04
Moat score
76/ 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 ResMed Inc.'s moat claims, evidence, and risks.

View RMD analysis

Comparison highlights

  • Moat score gap: Enbridge Inc. leads (92 / 100 vs 76 / 100 for ResMed Inc.).
  • Segment focus: Enbridge Inc. has 4 segments (72.8% in Liquids Pipelines); ResMed Inc. has 2 segments (87.5% in Sleep and Breathing Health).
  • Moat breadth: Enbridge Inc. has 6 moat types across 3 domains; ResMed Inc. has 7 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%

ResMed Inc.

Sleep and Breathing Health

Market

Sleep apnea and respiratory care devices and related consumables (PAP, masks, ventilation) plus connected monitoring services

Geography

Global

Customer

DME/HME providers, sleep clinics, hospitals, patients

Role

Medical device OEM + connected care software/data services

Revenue share

87.5%

Side-by-side metrics

Enbridge Inc.
ResMed Inc.
Ticker / Exchange
ENB - Toronto Stock Exchange
RMD - New York Stock Exchange
Market cap (USD)
$139.7B
$36B
Gross margin (TTM)
35.2%
60.1%
Operating margin (TTM)
17.5%
33.2%
Net margin (TTM)
9.4%
27.4%
Sector
Energy
Healthcare
Industry
Oil & Gas Midstream
Medical - Instruments & Supplies
HQ country
CA
US
Primary segment
Liquids Pipelines
Sleep and Breathing Health
Market structure
Oligopoly
Oligopoly
Market share
29%-31% (reported)
58%-66% (estimated)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
92 / 100
76 / 100
Moat domains
Legal, Supply, Demand
Demand, Legal
Last update
2025-12-31
2026-01-04

Moat coverage

Shared moat types

Long Term Contracts

Enbridge Inc. strengths

Permits Rights Of WayPhysical Network DensityRegulated Standards PipeConcession LicenseCapex Knowhow Scale

ResMed Inc. strengths

Installed Base ConsumablesData Workflow LockinBrand TrustCompliance AdvantageIP Choke PointTraining Org Change Costs

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%

ResMed Inc. segments

Full profile >

Sleep and Breathing Health

Oligopoly

87.5%

Residential Care Software

Competitive

12.5%

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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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.