This first-round matchup in our Stock Market Madness tournament will feature two of the biggest names in consumer staples: Procter & Gamble Co (NYSE:PG) vs. Colgate-Palmolive Company (NYSE:CL).

Of course, while those names are pretty familiar to those of us who follow Wall Street, they’re far better known for many of the names they own. From Charmin, Crest and Tide to Colgate, Irish Spring and Speed Stick, PG and CL represent products that span just about every supermarket in the nation.

But which purveyor of toilet paper and deodorant makes for a cleaner investment?

Procter & Gamble (PG)

Procter & Gamble was started in 1837 by William Procter, a candle maker, and James Gamble, a soap maker. While the company has grown in size over the past 178 years, the essence of the business is still the same — sell simple, easily made products that the masses need.

In 1837, everyone needed candles for light and soap for cleaning. In 2015, everyone still needs soap for cleaning, candles to make a room smell nice, make-up to look beautiful and so on. What is amazing about Procter & Gamble — and what has allowed the company to not just survive, but thrive, for almost two centuries — is that their target audience is everyone, their products are affordable, and they sell items that most people would consider essential to everyday life.

That’s how you pay an uninterrupted dividend since 1891.

Procter & Gamble’s $83 billion in annual revenues are impressive, but what’s really impressive is how it gets there. There’s no one silver bullet — as of last year, P&G owned 22 different brands that each pulled in more than $1 billion in annual revenue, and another 19 that produce more than $500 million each. P&G is essentially 50 different companies all wrapped into one.

Of course, that could be problematic. CEOs have long believed that bigger is better, but a company can get too large. A company with so many different moving parts is difficult to manage under just one C-suite staff.

Just recently, Procter & Gamble announced that it would be cutting some of its brands to help increase sales and cut costs. I believe this is a good move, but it certainly could backfire. If P&G sells brands, it could increase its own competition in some areas, which could hamper Procter & Gamble sales (and PG stock) in the future.

Colgate-Palmolive (CL)

Colgate-Palmolive is very similar to Procter & Gamble. The business has been around since the early 1800s, it operates in nearly the same space — personal care, cleaning and pet products — and has paid a dividend for more than a century.

CL is much smaller than PG, though — Colgate has amassed $62 billion in market capitalization vs. $220 billion for Procter & Gamble. However, I think the smaller size is beneficial to Colgate for many of the same reasons large size hurts Procter & Gamble: oversight and control of the business by management.

Another benefit Colgate-Palmolive is the company’s commitment to improve its products. In 2011, Colgate set out to develop new innovative products that would help push the company into the future. Since that time, Colgate has spent roughly $1 billion a year on R&D.

The other side of the coin is that there’s not a ton of innovation to be had in its same ol’ same ol’ of personal household items. Yes, you can change scents, colors and feel, but it’s rare that a massive, industry-changing technology comes along.

CL is not going to reinvent the wheel, which means it’s not going to dramatically grow, which means it’s not going to run laps around the competition. It simply doesn’t have a marked competitive edge.

Our First-Round Pick: PG

Both Procter & Gamble and Colgate-Palmolive operate in the same industry, selling the same types of products.

The difference-maker? While I believe Procter & Gamble’s size should be a concern to shareholders, I still have to pick PG stock simply because it’s already at a scale that CL likely won’t reach.

Head back to the Stock Market Madness bracket to vote on your favorite stocks and check out other previews!

As of this writing, Matt Thalman was long PG. You can follow him on Twitter at @mthalman5513.