VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Alcon Inc. vs DexCom, Inc.

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

Alcon Inc.

ALC · New York Stock Exchange

Market cap (USD)$37B
Gross margin (TTM)54.8%
Operating margin (TTM)13.1%
Net margin (TTM)9.4%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryCH
Data as of2026-01-10
Moat score
71/ 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 Alcon Inc.'s moat claims, evidence, and risks.

View ALC analysis

DexCom, Inc.

DXCM · Nasdaq Global Select Market

Market cap (USD)$23.6B
Gross margin (TTM)60.1%
Operating margin (TTM)19.6%
Net margin (TTM)17.9%
SectorHealthcare
IndustryMedical - Devices
CountryUS
Data as of2026-04-24
Moat score
82/ 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 DexCom, Inc.'s moat claims, evidence, and risks.

View DXCM analysis

Comparison highlights

  • Moat score gap: DexCom, Inc. leads (82 / 100 vs 71 / 100 for Alcon Inc.).
  • Segment focus: Alcon Inc. has 2 segments (56% in Surgical); DexCom, Inc. has 1 segment (100% in Continuous glucose monitoring systems).
  • Moat breadth: Alcon Inc. has 7 moat types across 3 domains; DexCom, Inc. has 5 across 3.

Primary market context

Alcon Inc.

Surgical

Market

Ophthalmic surgical devices (implantables, consumables, equipment) and related service/training

Geography

Global

Customer

Ophthalmic surgeons, hospitals, ambulatory surgery centers, group purchasing organizations

Role

Medical device OEM with direct service, clinical support, and training

Revenue share

56%

DexCom, Inc.

Continuous glucose monitoring systems

Market

Global continuous glucose monitoring systems and glucose biosensing devices

Geography

Global, with FY2025 revenue 71.5% United States and 28.5% international

Customer

People with diabetes, metabolic-health users, caregivers, clinicians, payors, distributors and pharmacy channels

Role

CGM device manufacturer, disposable sensor supplier, software/data platform and distribution partner

Revenue share

100%

Side-by-side metrics

Alcon Inc.
DexCom, Inc.
Ticker / Exchange
ALC - New York Stock Exchange
DXCM - Nasdaq Global Select Market
Market cap (USD)
$37B
$23.6B
Gross margin (TTM)
54.8%
60.1%
Operating margin (TTM)
13.1%
19.6%
Net margin (TTM)
9.4%
17.9%
Sector
Healthcare
Healthcare
Industry
Medical - Instruments & Supplies
Medical - Devices
HQ country
CH
US
Primary segment
Surgical
Continuous glucose monitoring systems
Market structure
Oligopoly
Oligopoly
Market share
40%-46% (implied)
35.1% (estimated)
HHI estimate
n/a
4,452
Pricing power
Moderate
Moderate
Moat score
71 / 100
82 / 100
Moat domains
Demand, Supply, Legal
Demand, Network, Legal
Last update
2026-01-10
2026-04-24

Moat coverage

Shared moat types

Installed Base ConsumablesBrand Trust

Alcon Inc. strengths

Suite BundlingService Field NetworkCompliance AdvantageProcurement InertiaCapex Knowhow Scale

DexCom, Inc. strengths

Ecosystem ComplementsRegulated Standards PipeData Workflow Lockin

Segment mix

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

DexCom, Inc. segments

Full profile >

Continuous glucose monitoring systems

Oligopoly

100%

Want the full wide moat stocks list?

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

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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.