VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

DexCom, Inc. vs Siemens Healthineers AG

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

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

Siemens Healthineers AG

SHL · XETRA

Market cap (USD)$46.4B
Gross margin (TTM)38.4%
Operating margin (TTM)14.7%
Net margin (TTM)9.1%
SectorHealthcare
IndustryMedical - Devices
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: DexCom, Inc. leads (82 / 100 vs 68 / 100 for Siemens Healthineers AG).
  • Segment focus: DexCom, Inc. has 1 segment (100% in Continuous glucose monitoring systems); Siemens Healthineers AG has 4 segments (54.6% in Imaging).
  • Moat breadth: DexCom, Inc. has 5 moat types across 3 domains; Siemens Healthineers AG has 8 across 3.

Primary market context

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%

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

DexCom, Inc.
Siemens Healthineers AG
Ticker / Exchange
DXCM - Nasdaq Global Select Market
SHL - XETRA
Market cap (USD)
$23.6B
$46.4B
Gross margin (TTM)
60.1%
38.4%
Operating margin (TTM)
19.6%
14.7%
Net margin (TTM)
17.9%
9.1%
Sector
Healthcare
Healthcare
Industry
Medical - Devices
Medical - Devices
HQ country
US
DE
Primary segment
Continuous glucose monitoring systems
Imaging
Market structure
Oligopoly
Oligopoly
Market share
35.1% (estimated)
n/a
HHI estimate
4,452
n/a
Pricing power
Moderate
Moderate
Moat score
82 / 100
68 / 100
Moat domains
Demand, Network, Legal
Supply, Demand, Network
Last update
2026-04-24
2025-12-28

Moat coverage

Shared moat types

Installed Base ConsumablesEcosystem ComplementsData Workflow Lockin

DexCom, Inc. strengths

Regulated Standards PipeBrand Trust

Siemens Healthineers AG strengths

Service Field NetworkCapex Knowhow ScaleLong Term ContractsDesign In QualificationSwitching Costs General

Segment mix

DexCom, Inc. segments

Full profile >

Continuous glucose monitoring systems

Oligopoly

100%

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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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.