VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Cboe Global Markets, Inc. vs Siemens Healthineers AG

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

Cboe Global Markets, Inc.

CBOE · Cboe BZX

Market cap (USD)
SectorFinancials
CountryUS
Data as of2025-12-31
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 Cboe Global Markets, Inc.'s moat claims, evidence, and risks.

View CBOE analysis

Siemens Healthineers AG

SHL · XETRA

Market cap (USD)
SectorHealthcare
CountryDE
Data as of2025-12-28
Moat score
68/ 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 Siemens Healthineers AG's moat claims, evidence, and risks.

View SHL analysis

Comparison highlights

  • Moat score gap: Cboe Global Markets, Inc. leads (76 / 100 vs 68 / 100 for Siemens Healthineers AG).
  • Segment focus: Cboe Global Markets, Inc. has 5 segments (60.8% in Options); Siemens Healthineers AG has 4 segments (54.6% in Imaging).
  • Moat breadth: Cboe Global Markets, Inc. has 8 moat types across 4 domains; Siemens Healthineers AG has 8 across 3.

Primary market context

Cboe Global Markets, Inc.

Options

Market

U.S. listed options exchanges (multi-listed + proprietary index options)

Geography

United States

Customer

Broker-dealers, market makers, institutional investors, retail order-flow intermediaries

Role

Exchange operator (SRO) + derivatives listing venue + market data provider

Revenue share

60.8%

Siemens Healthineers AG

Imaging

Market

Diagnostic medical imaging equipment and related software/services (MRI, CT, X-ray, molecular imaging, ultrasound)

Geography

Global

Customer

Hospitals, imaging centers, clinics, and integrated delivery networks

Role

OEM + digital platform and service provider

Revenue share

54.6%

Side-by-side metrics

Cboe Global Markets, Inc.
Siemens Healthineers AG
Ticker / Exchange
CBOE - Cboe BZX
SHL - XETRA
Market cap (USD)
n/a
n/a
Sector
Financials
Healthcare
HQ country
US
DE
Primary segment
Options
Imaging
Market structure
Oligopoly
Oligopoly
Market share
29%-32% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
76 / 100
68 / 100
Moat domains
Legal, Network, Supply, Demand
Supply, Demand, Network
Last update
2025-12-31
2025-12-28

Moat coverage

Shared moat types

Capex Knowhow ScaleSwitching Costs General

Cboe Global Markets, Inc. strengths

Contractual ExclusivityTwo Sided NetworkRegulated Standards PipeClearing SettlementIP Choke PointDe Facto Standard

Siemens Healthineers AG strengths

Service Field NetworkData Workflow LockinLong Term ContractsInstalled Base ConsumablesDesign In QualificationEcosystem Complements

Segment mix

Cboe Global Markets, Inc. segments

Full profile >

Options

Oligopoly

60.8%

North American Equities

Competitive

18.5%

Europe and Asia Pacific

Oligopoly

10.6%

Futures

Quasi-Monopoly

6.3%

Global FX

Competitive

3.7%

Siemens Healthineers AG segments

Full profile >

Imaging

Oligopoly

54.6%

Diagnostics

Oligopoly

18.7%

Varian

Oligopoly

17.6%

Advanced Therapies

Oligopoly

9.1%

Want the full wide moat stocks list?

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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.