VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Bristol-Myers Squibb Company vs Spirax Group plc

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)$110.3B
SectorHealthcare
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

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$6.7B
SectorIndustrials
CountryGB
Data as of2025-12-28
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 Spirax Group plc's moat claims, evidence, and risks.

View SPX analysis

Comparison highlights

  • Moat score gap: Spirax Group plc leads (71 / 100 vs 56 / 100 for Bristol-Myers Squibb Company).
  • Segment focus: Bristol-Myers Squibb Company has 5 segments (27.6% in Eliquis franchise (apixaban)); Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions).
  • Moat breadth: Bristol-Myers Squibb Company has 4 moat types across 3 domains; Spirax Group plc has 6 across 2.

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%

Spirax Group plc

Steam Thermal Solutions

Market

Industrial and commercial steam systems (condensate management, controls, thermal energy management products and solutions)

Geography

Global

Customer

Industrial process operators and commercial facility operators

Role

OEM / solutions provider

Revenue share

52.1%

Side-by-side metrics

Bristol-Myers Squibb Company
Spirax Group plc
Ticker / Exchange
BMY - New York Stock Exchange
SPX - London Stock Exchange
Market cap (USD)
$110.3B
$6.7B
Sector
Healthcare
Industrials
HQ country
US
GB
Primary segment
Eliquis franchise (apixaban)
Steam Thermal Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
56 / 100
71 / 100
Moat domains
Legal, Demand, Supply
Supply, Demand
Last update
2025-12-22
2025-12-28

Moat coverage

Shared moat types

Capex Knowhow Scale

Bristol-Myers Squibb Company strengths

IP Choke PointProcurement InertiaSwitching Costs General

Spirax Group plc strengths

Service Field NetworkInstalled Base ConsumablesBrand TrustDesign In QualificationSuite Bundling

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%

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

52.1%

Electric Thermal Solutions

Competitive

24.3%

Watson-Marlow Fluid Technology Solutions

Oligopoly

23.6%

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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.