VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Linde plc vs Watsco, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Linde plc

LIN · Nasdaq Stock Market

Market cap (USD)$202.2B
Gross margin (TTM)40.5%
Operating margin (TTM)27.2%
Net margin (TTM)21.2%
SectorMaterials
IndustryChemicals - Specialty
CountryIE
Data as of2025-12-29
Moat score
72/ 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 Linde plc's moat claims, evidence, and risks.

View LIN analysis

Watsco, Inc.

WSO · New York Stock Exchange

Market cap (USD)$14.4B
Gross margin (TTM)28.3%
Operating margin (TTM)10.2%
Net margin (TTM)7.4%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-05
Moat score
72/ 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 Watsco, Inc.'s moat claims, evidence, and risks.

View WSO analysis

Comparison highlights

  • Moat score: both at 72 / 100.
  • Segment focus: Linde plc has 4 segments (43.8% in Americas); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Linde plc has 5 moat types across 3 domains; Watsco, Inc. has 4 across 3.

Primary market context

Linde plc

Americas

Market

Industrial gases (Americas)

Geography

Americas

Customer

B2B + healthcare

Role

Producer, distributor, on-site plant owner/operator

Revenue share

43.8%

Watsco, Inc.

HVAC/R Distribution

Market

HVAC/R equipment, parts and supplies distribution

Geography

North America (U.S., Canada, Mexico, Puerto Rico; export to Latin America/Caribbean)

Customer

Licensed HVAC and refrigeration contractors (residential & commercial)

Role

Wholesale distributor

Revenue share

100%

Side-by-side metrics

Linde plc
Watsco, Inc.
Ticker / Exchange
LIN - Nasdaq Stock Market
WSO - New York Stock Exchange
Market cap (USD)
$202.2B
$14.4B
Gross margin (TTM)
40.5%
28.3%
Operating margin (TTM)
27.2%
10.2%
Net margin (TTM)
21.2%
7.4%
Sector
Materials
Industrials
Industry
Chemicals - Specialty
Industrial - Distribution
HQ country
IE
US
Primary segment
Americas
HVAC/R Distribution
Market structure
Oligopoly
Competitive
Market share
n/a
9%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
72 / 100
72 / 100
Moat domains
Demand, Supply, Legal
Supply, Legal, Demand
Last update
2025-12-29
2026-01-05

Moat coverage

Shared moat types

Physical Network DensityScale Economies Unit Cost

Linde plc strengths

Long Term ContractsCapex Knowhow ScaleIP Choke Point

Watsco, Inc. strengths

Contractual ExclusivityData Workflow Lockin

Segment mix

Linde plc segments

Full profile >

Americas

Oligopoly

43.8%

EMEA

Oligopoly

25.3%

APAC

Oligopoly

20.1%

Engineering

Competitive

7%

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

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.