VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Elevance Health, Inc. vs Siemens Healthineers AG

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

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

Siemens Healthineers AG

SHL · XETRA

Market cap (USD)$52.2B
Gross margin (TTM)38.6%
Operating margin (TTM)14.7%
Net margin (TTM)9.2%
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: Elevance Health, Inc. leads (74 / 100 vs 68 / 100 for Siemens Healthineers AG).
  • Segment focus: Elevance Health, Inc. has 3 segments (85.2% in Health Benefits); Siemens Healthineers AG has 4 segments (54.6% in Imaging).
  • Moat breadth: Elevance Health, Inc. has 8 moat types across 3 domains; Siemens Healthineers AG has 8 across 3.

Primary market context

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%

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

Elevance Health, Inc.
Siemens Healthineers AG
Ticker / Exchange
ELV - New York Stock Exchange
SHL - XETRA
Market cap (USD)
$82.8B
$52.2B
Gross margin (TTM)
n/a
38.6%
Operating margin (TTM)
n/a
14.7%
Net margin (TTM)
n/a
9.2%
Sector
Healthcare
Healthcare
Industry
Medical - Healthcare Plans
Medical - Devices
HQ country
US
DE
Primary segment
Health Benefits
Imaging
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
68 / 100
Moat domains
Legal, Demand, Supply
Supply, Demand, Network
Last update
2026-01-09
2025-12-28

Moat coverage

Shared moat types

Data Workflow LockinSwitching Costs General

Elevance Health, Inc. strengths

Concession LicenseBrand TrustScale Economies Unit CostGovernment Contracting RelationshipsSuite BundlingScope Economies

Siemens Healthineers AG strengths

Service Field NetworkCapex Knowhow ScaleLong Term ContractsInstalled Base ConsumablesDesign In QualificationEcosystem Complements

Segment mix

Elevance Health, Inc. segments

Full profile >

Health Benefits

Oligopoly

85.2%

CarelonRx

Oligopoly

12.8%

Carelon Services

Competitive

1.9%

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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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.