VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Stock Comparison

Bristol-Myers Squibb Company vs DexCom, Inc.

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

Bristol-Myers Squibb Company

BMY · New York Stock Exchange

Market cap (USD)$120.5B
Gross margin (TTM)67.7%
Operating margin (TTM)26.3%
Net margin (TTM)14.6%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryUS
Data as of2025-12-22
Moat score
56/ 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 Bristol-Myers Squibb Company's moat claims, evidence, and risks.

View BMY 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 56 / 100 for Bristol-Myers Squibb Company).
  • Segment focus: Bristol-Myers Squibb Company has 5 segments (27.6% in Eliquis franchise (apixaban)); DexCom, Inc. has 1 segment (100% in Continuous glucose monitoring systems).
  • Moat breadth: Bristol-Myers Squibb Company has 4 moat types across 3 domains; DexCom, Inc. has 5 across 3.

Primary market context

Bristol-Myers Squibb Company

Eliquis franchise (apixaban)

Market

Direct oral anticoagulants (DOACs) for stroke prevention in NVAF and treatment/prevention of DVT/PE

Geography

Global

Customer

Payers, PBMs, hospitals, clinics, pharmacies

Role

Branded drug manufacturer (co-commercialization alliance)

Revenue share

27.6%

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

Bristol-Myers Squibb Company
DexCom, Inc.
Ticker / Exchange
BMY - New York Stock Exchange
DXCM - Nasdaq Global Select Market
Market cap (USD)
$120.5B
$23.6B
Gross margin (TTM)
67.7%
60.1%
Operating margin (TTM)
26.3%
19.6%
Net margin (TTM)
14.6%
17.9%
Sector
Healthcare
Healthcare
Industry
Drug Manufacturers - General
Medical - Devices
HQ country
US
US
Primary segment
Eliquis franchise (apixaban)
Continuous glucose monitoring systems
Market structure
Oligopoly
Oligopoly
Market share
n/a
35.1% (estimated)
HHI estimate
n/a
4,452
Pricing power
Moderate
Moderate
Moat score
56 / 100
82 / 100
Moat domains
Legal, Demand, Supply
Demand, Network, Legal
Last update
2025-12-22
2026-04-24

Moat coverage

Shared moat types

No overlap yet.

Bristol-Myers Squibb Company strengths

IP Choke PointProcurement InertiaCapex Knowhow ScaleSwitching Costs General

DexCom, Inc. strengths

Installed Base ConsumablesEcosystem ComplementsRegulated Standards PipeData Workflow LockinBrand Trust

Segment mix

Bristol-Myers Squibb Company segments

Full profile >

Eliquis franchise (apixaban)

Oligopoly

27.6%

Immuno-oncology checkpoint inhibitors (Opdivo/Yervoy/Opdualag)

Oligopoly

26.4%

Hematology (Revlimid/Pomalyst/Reblozyl)

Competitive

23%

Immunology (Orencia/Sotyktu)

Competitive

8.1%

Other specialty & emerging products (CAR-T, cardiomyopathy, neuroscience, and mature brands)

Competitive

14.9%

DexCom, Inc. segments

Full profile >

Continuous glucose monitoring systems

Oligopoly

100%

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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.