VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Danaher Corporation vs Elevance Health, Inc.

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

Danaher Corporation

DHR · New York Stock Exchange

Market cap (USD)$170.8B
Gross margin (TTM)61.4%
Operating margin (TTM)22.2%
Net margin (TTM)14.4%
SectorHealthcare
IndustryMedical - Diagnostics & Research
CountryUS
Data as of2025-12-22
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 Danaher Corporation's moat claims, evidence, and risks.

View DHR analysis

Elevance Health, Inc.

ELV · New York Stock Exchange

Market cap (USD)$82.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
IndustryMedical - Healthcare Plans
CountryUS
Data as of2026-01-09
Moat score
74/ 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 Elevance Health, Inc.'s moat claims, evidence, and risks.

View ELV analysis

Comparison highlights

  • Moat score gap: Danaher Corporation leads (77 / 100 vs 74 / 100 for Elevance Health, Inc.).
  • Segment focus: Danaher Corporation has 3 segments (41% in Diagnostics); Elevance Health, Inc. has 3 segments (85.2% in Health Benefits).
  • Moat breadth: Danaher Corporation has 7 moat types across 3 domains; Elevance Health, Inc. has 8 across 3.

Primary market context

Danaher Corporation

Diagnostics

Market

In vitro diagnostics instruments, consumables, software and services (clinical lab, acute care/POC, pathology, molecular diagnostics)

Geography

Global

Customer

Hospitals, physician offices, reference laboratories, pathology labs, critical care settings

Role

IVD device manufacturer and reagent/test supplier + software/services

Revenue share

41%

Elevance Health, Inc.

Health Benefits

Market

U.S. health insurance and managed care

Geography

United States

Customer

Employers, individuals, and government programs

Role

Payer / managed care organization

Revenue share

85.2%

Side-by-side metrics

Danaher Corporation
Elevance Health, Inc.
Ticker / Exchange
DHR - New York Stock Exchange
ELV - New York Stock Exchange
Market cap (USD)
$170.8B
$82.8B
Gross margin (TTM)
61.4%
n/a
Operating margin (TTM)
22.2%
n/a
Net margin (TTM)
14.4%
n/a
Sector
Healthcare
Healthcare
Industry
Medical - Diagnostics & Research
Medical - Healthcare Plans
HQ country
US
US
Primary segment
Diagnostics
Health Benefits
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
77 / 100
74 / 100
Moat domains
Demand, Supply, Legal
Legal, Demand, Supply
Last update
2025-12-22
2026-01-09

Moat coverage

Shared moat types

Suite Bundling

Danaher Corporation strengths

Installed Base ConsumablesDesign In QualificationService Field NetworkOperational ExcellenceLearning Curve YieldRegulated Standards Pipe

Elevance Health, Inc. strengths

Concession LicenseBrand TrustScale Economies Unit CostGovernment Contracting RelationshipsData Workflow LockinScope EconomiesSwitching Costs General

Segment mix

Danaher Corporation segments

Full profile >

Biotechnology

Oligopoly

28.3%

Life Sciences

Oligopoly

30.7%

Diagnostics

Oligopoly

41%

Elevance Health, Inc. segments

Full profile >

Health Benefits

Oligopoly

85.2%

CarelonRx

Oligopoly

12.8%

Carelon Services

Competitive

1.9%

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.

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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.