VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Booking Holdings Inc. vs ResMed Inc.

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

Booking Holdings Inc.

BKNG · NASDAQ Global Select Market

Market cap (USD)$173B
Gross margin (TTM)100%
Operating margin (TTM)32.7%
Net margin (TTM)19.4%
SectorConsumer
IndustryTravel Services
CountryUS
Data as of2025-12-25
Moat score
77/ 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 Booking Holdings Inc.'s moat claims, evidence, and risks.

View BKNG 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: Booking Holdings Inc. leads (77 / 100 vs 76 / 100 for ResMed Inc.).
  • Segment focus: Booking Holdings Inc. has 2 segments (95.5% in OTC online travel reservations (Booking.com, Priceline, Agoda)); ResMed Inc. has 2 segments (87.5% in Sleep and Breathing Health).
  • Moat breadth: Booking Holdings Inc. has 5 moat types across 4 domains; ResMed Inc. has 7 across 2.

Primary market context

Booking Holdings Inc.

OTC online travel reservations (Booking.com, Priceline, Agoda)

Market

Online travel agency (OTA) reservation platforms

Geography

Global

Customer

Two-sided: travelers (B2C) and travel service providers (B2B)

Role

Intermediary / marketplace

Revenue share

95.5%

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

Booking Holdings Inc.
ResMed Inc.
Ticker / Exchange
BKNG - NASDAQ Global Select Market
RMD - New York Stock Exchange
Market cap (USD)
$173B
$36B
Gross margin (TTM)
100%
60.1%
Operating margin (TTM)
32.7%
33.2%
Net margin (TTM)
19.4%
27.4%
Sector
Consumer
Healthcare
Industry
Travel Services
Medical - Instruments & Supplies
HQ country
US
US
Primary segment
OTC online travel reservations (Booking.com, Priceline, Agoda)
Sleep and Breathing Health
Market structure
Oligopoly
Oligopoly
Market share
23%-31% (implied)
58%-66% (estimated)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
77 / 100
76 / 100
Moat domains
Network, Demand, Supply, Financial
Demand, Legal
Last update
2025-12-25
2026-01-04

Moat coverage

Shared moat types

Brand Trust

Booking Holdings Inc. strengths

Two Sided NetworkHabit DefaultScope EconomiesFloat Prepayment

ResMed Inc. strengths

Installed Base ConsumablesData Workflow LockinCompliance AdvantageIP Choke PointLong Term ContractsTraining Org Change Costs

Segment mix

Booking Holdings Inc. segments

Full profile >

OTC online travel reservations (Booking.com, Priceline, Agoda)

Oligopoly

95.5%

Metasearch & restaurant reservations (KAYAK, OpenTable)

Competitive

4.5%

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?

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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.