VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Doximity, Inc. vs Elevance Health, Inc.

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

Doximity, Inc.

DOCS · New York Stock Exchange

Market cap (USD)$4.5B
Gross margin (TTM)89.8%
Operating margin (TTM)37.4%
Net margin (TTM)37.5%
SectorHealthcare
IndustryMedical - Healthcare Information Services
CountryUS
Data as of2026-04-25
Moat score
70/ 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 Doximity, Inc.'s moat claims, evidence, and risks.

View DOCS analysis

Elevance Health, Inc.

ELV · New York Stock Exchange

Market cap (USD)$76.1B
Gross margin (TTM)23.2%
Operating margin (TTM)3.8%
Net margin (TTM)2.6%
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: Elevance Health, Inc. leads (74 / 100 vs 70 / 100 for Doximity, Inc.).
  • Segment focus: Doximity, Inc. has 1 segment (100% in Medical professional platform and healthcare customer solutions); Elevance Health, Inc. has 3 segments (85.2% in Health Benefits).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Doximity, Inc. has 5 moat types across 2 domains; Elevance Health, Inc. has 8 across 3.

Primary market context

Doximity, Inc.

Medical professional platform and healthcare customer solutions

Market

U.S. digital medical professional network, HCP marketing, hiring, workflow and telehealth solutions

Geography

United States

Customer

Physicians, nurse practitioners, physician assistants, medical students, pharmaceutical manufacturers, health systems and medical recruiters

Role

Verified clinician network, engagement platform, workflow software and subscription-based commercial solutions provider

Revenue share

100%

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

Doximity, Inc.
Elevance Health, Inc.
Ticker / Exchange
DOCS - New York Stock Exchange
ELV - New York Stock Exchange
Market cap (USD)
$4.5B
$76.1B
Gross margin (TTM)
89.8%
23.2%
Operating margin (TTM)
37.4%
3.8%
Net margin (TTM)
37.5%
2.6%
Sector
Healthcare
Healthcare
Industry
Medical - Healthcare Information Services
Medical - Healthcare Plans
HQ country
US
US
Primary segment
Medical professional platform and healthcare customer solutions
Health Benefits
Market structure
Competitive
Oligopoly
Market share
3%-4% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
70 / 100
74 / 100
Moat domains
Network, Demand
Legal, Demand, Supply
Last update
2026-04-25
2026-01-09

Moat coverage

Shared moat types

Data Workflow LockinBrand Trust

Doximity, Inc. strengths

Direct Network EffectsData Network EffectsProcurement Inertia

Elevance Health, Inc. strengths

Concession LicenseScale Economies Unit CostGovernment Contracting RelationshipsSuite BundlingScope EconomiesSwitching Costs General

Segment mix

Doximity, Inc. segments

Full profile >

Medical professional platform and healthcare customer solutions

Competitive

100%

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.