VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Enbridge Inc. vs SS&C Technologies Holdings, 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)$138.5B
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

SS&C Technologies Holdings, Inc.

SSNC · NASDAQ

Market cap (USD)$21.2B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryUS
Data as of2026-01-11
Moat score
68/ 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 SS&C Technologies Holdings, Inc.'s moat claims, evidence, and risks.

View SSNC analysis

Comparison highlights

  • Moat score gap: Enbridge Inc. leads (92 / 100 vs 68 / 100 for SS&C Technologies Holdings, Inc.).
  • Segment focus: Enbridge Inc. has 4 segments (72.8% in Liquids Pipelines); SS&C Technologies Holdings, Inc. has 3 segments (82.3% in Software-enabled services).
  • Moat breadth: Enbridge Inc. has 6 moat types across 3 domains; SS&C Technologies Holdings, Inc. has 7 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%

SS&C Technologies Holdings, Inc.

Software-enabled services

Market

Software-enabled outsourcing and subscription services for financial services and healthcare (fund administration, transfer agency, middle/back office BPO, managed IT)

Geography

Global

Customer

Financial services firms (asset/wealth managers, alternative managers, banks, insurers) and healthcare payers/administrators

Role

Service provider / outsourcer (SaaS + BPO)

Revenue share

82.3%

Side-by-side metrics

Enbridge Inc.
SS&C Technologies Holdings, Inc.
Ticker / Exchange
ENB - Toronto Stock Exchange
SSNC - NASDAQ
Market cap (USD)
$138.5B
$21.2B
Gross margin (TTM)
35.2%
n/a
Operating margin (TTM)
17.5%
n/a
Net margin (TTM)
9.4%
n/a
Sector
Energy
Technology
Industry
Oil & Gas Midstream
n/a
HQ country
CA
US
Primary segment
Liquids Pipelines
Software-enabled services
Market structure
Oligopoly
Oligopoly
Market share
29%-31% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
92 / 100
68 / 100
Moat domains
Legal, Supply, Demand
Demand, Supply, Legal, Network
Last update
2025-12-31
2026-01-11

Moat coverage

Shared moat types

Long Term Contracts

Enbridge Inc. strengths

Permits Rights Of WayPhysical Network DensityRegulated Standards PipeConcession LicenseCapex Knowhow Scale

SS&C Technologies Holdings, Inc. strengths

Data Workflow LockinScale Economies Unit CostCompliance AdvantageSuite BundlingTwo Sided NetworkInteroperability Hub

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%

SS&C Technologies Holdings, Inc. segments

Full profile >

Software-enabled services

Oligopoly

82.3%

License, maintenance and related

Oligopoly

17.7%

Funds network connectivity (Calastone)

Oligopoly

n/a

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

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.