VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

DexCom, Inc. vs UnitedHealth Group Incorporated

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

UnitedHealth Group Incorporated

UNH · New York Stock Exchange

Market cap (USD)$321.8B
Gross margin (TTM)18.8%
Operating margin (TTM)4.2%
Net margin (TTM)2.7%
SectorHealthcare
IndustryMedical - Healthcare Plans
CountryUS
Data as of2025-12-31
Moat score
64/ 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 UnitedHealth Group Incorporated's moat claims, evidence, and risks.

View UNH analysis

Comparison highlights

  • Moat score gap: DexCom, Inc. leads (82 / 100 vs 64 / 100 for UnitedHealth Group Incorporated).
  • Segment focus: DexCom, Inc. has 1 segment (100% in Continuous glucose monitoring systems); UnitedHealth Group Incorporated has 4 segments (74.9% in UnitedHealthcare).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Weak.
  • Moat breadth: DexCom, Inc. has 5 moat types across 3 domains; UnitedHealth Group Incorporated has 5 across 2.

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%

UnitedHealth Group Incorporated

UnitedHealthcare

Market

U.S. health benefits / managed care (commercial, Medicare Advantage, Medicaid managed care)

Geography

United States (primarily)

Customer

Employers, individuals, and government-sponsored programs

Role

Health insurer / managed care organization

Revenue share

74.9%

Side-by-side metrics

DexCom, Inc.
UnitedHealth Group Incorporated
Ticker / Exchange
DXCM - Nasdaq Global Select Market
UNH - New York Stock Exchange
Market cap (USD)
$23.6B
$321.8B
Gross margin (TTM)
60.1%
18.8%
Operating margin (TTM)
19.6%
4.2%
Net margin (TTM)
17.9%
2.7%
Sector
Healthcare
Healthcare
Industry
Medical - Devices
Medical - Healthcare Plans
HQ country
US
US
Primary segment
Continuous glucose monitoring systems
UnitedHealthcare
Market structure
Oligopoly
Oligopoly
Market share
35.1% (estimated)
n/a
HHI estimate
4,452
n/a
Pricing power
Moderate
Weak
Moat score
82 / 100
64 / 100
Moat domains
Demand, Network, Legal
Supply, Demand
Last update
2026-04-24
2025-12-31

Moat coverage

Shared moat types

Data Workflow Lockin

DexCom, Inc. strengths

Installed Base ConsumablesEcosystem ComplementsRegulated Standards PipeBrand Trust

UnitedHealth Group Incorporated strengths

Scale Economies Unit CostSuite BundlingOperational ExcellenceTraining Org Change Costs

Segment mix

DexCom, Inc. segments

Full profile >

Continuous glucose monitoring systems

Oligopoly

100%

UnitedHealth Group Incorporated segments

Full profile >

UnitedHealthcare

Oligopoly

74.9%

Optum Health

Competitive

9.9%

Optum Insight

Competitive

1.7%

Optum Rx

Oligopoly

13.5%

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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.