VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

ASX Limited vs ResMed Inc.

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

ASX Limited

ASX · ASX

Market cap (USD)$9.8B
Gross margin (TTM)75.4%
Operating margin (TTM)94.8%
Net margin (TTM)40.9%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryAU
Data as of2025-12-28
Moat score
80/ 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 ASX Limited's moat claims, evidence, and risks.

View ASX 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: ASX Limited leads (80 / 100 vs 76 / 100 for ResMed Inc.).
  • Segment focus: ASX Limited has 4 segments (31.5% in Markets); ResMed Inc. has 2 segments (87.5% in Sleep and Breathing Health).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: ASX Limited has 4 moat types across 3 domains; ResMed Inc. has 7 across 2.

Primary market context

ASX Limited

Markets

Market

Trading venues for Australian cash equities and exchange-traded derivatives (futures, options)

Geography

Australia

Customer

Brokers/market participants, proprietary trading firms, institutional investors

Role

Market operator / trading venue

Revenue share

31.5%

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

ASX Limited
ResMed Inc.
Ticker / Exchange
ASX - ASX
RMD - New York Stock Exchange
Market cap (USD)
$9.8B
$36B
Gross margin (TTM)
75.4%
60.1%
Operating margin (TTM)
94.8%
33.2%
Net margin (TTM)
40.9%
27.4%
Sector
Financials
Healthcare
Industry
Financial - Data & Stock Exchanges
Medical - Instruments & Supplies
HQ country
AU
US
Primary segment
Markets
Sleep and Breathing Health
Market structure
Duopoly
Oligopoly
Market share
80%-84% (reported)
58%-66% (estimated)
HHI estimate
6,500
n/a
Pricing power
Moderate
Moderate
Moat score
80 / 100
76 / 100
Moat domains
Legal, Network, Demand
Demand, Legal
Last update
2025-12-28
2026-01-04

Moat coverage

Shared moat types

Data Workflow Lockin

ASX Limited strengths

Concession LicenseTwo Sided NetworkSwitching Costs General

ResMed Inc. strengths

Installed Base ConsumablesBrand TrustCompliance AdvantageIP Choke PointLong Term ContractsTraining Org Change Costs

Segment mix

ASX Limited segments

Full profile >

Listings

Quasi-Monopoly

18.8%

Markets

Duopoly

31.5%

Technology & Data

Competitive

24.9%

Securities & Payments

Monopoly

24.8%

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.

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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.