VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

LPL Financial Holdings Inc. vs ResMed Inc.

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

LPL Financial Holdings Inc.

LPLA · Nasdaq

Market cap (USD)$29.6B
Gross margin (TTM)24.1%
Operating margin (TTM)9.5%
Net margin (TTM)5.4%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2025-12-26
Moat score
79/ 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 LPL Financial Holdings Inc.'s moat claims, evidence, and risks.

View LPLA analysis

ResMed Inc.

RMD · New York Stock Exchange

Market cap (USD)$36B
Gross margin (TTM)60.1%
Operating margin (TTM)33.2%
Net margin (TTM)27.4%
SectorHealthcare
IndustryMedical - Instruments & Supplies
CountryUS
Data as of2026-01-04
Moat score
76/ 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 ResMed Inc.'s moat claims, evidence, and risks.

View RMD analysis

Comparison highlights

  • Moat score gap: LPL Financial Holdings Inc. leads (79 / 100 vs 76 / 100 for ResMed Inc.).
  • Segment focus: LPL Financial Holdings Inc. has 1 segment (100% in Advisor Platform); ResMed Inc. has 2 segments (87.5% in Sleep and Breathing Health).
  • Moat breadth: LPL Financial Holdings Inc. has 6 moat types across 4 domains; ResMed Inc. has 7 across 2.

Primary market context

LPL Financial Holdings Inc.

Advisor Platform

Market

Advisor-mediated wealth management platform (independent broker-dealer + RIA custody/clearing)

Geography

United States

Customer

Financial advisors and financial institutions

Role

Platform / broker-dealer / custodian

Revenue share

100%

ResMed Inc.

Sleep and Breathing Health

Market

Sleep apnea and respiratory care devices and related consumables (PAP, masks, ventilation) plus connected monitoring services

Geography

Global

Customer

DME/HME providers, sleep clinics, hospitals, patients

Role

Medical device OEM + connected care software/data services

Revenue share

87.5%

Side-by-side metrics

LPL Financial Holdings Inc.
ResMed Inc.
Ticker / Exchange
LPLA - Nasdaq
RMD - New York Stock Exchange
Market cap (USD)
$29.6B
$36B
Gross margin (TTM)
24.1%
60.1%
Operating margin (TTM)
9.5%
33.2%
Net margin (TTM)
5.4%
27.4%
Sector
Financials
Healthcare
Industry
Financial - Capital Markets
Medical - Instruments & Supplies
HQ country
US
US
Primary segment
Advisor Platform
Sleep and Breathing Health
Market structure
Oligopoly
Oligopoly
Market share
23%-25% (reported)
58%-66% (estimated)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
79 / 100
76 / 100
Moat domains
Supply, Demand, Legal, Network
Demand, Legal
Last update
2025-12-26
2026-01-04

Moat coverage

Shared moat types

Compliance Advantage

LPL Financial Holdings Inc. strengths

Scale Economies Unit CostSuite BundlingOperational ExcellenceTwo Sided NetworkSwitching Costs General

ResMed Inc. strengths

Installed Base ConsumablesData Workflow LockinBrand TrustIP Choke PointLong Term ContractsTraining Org Change Costs

Segment mix

LPL Financial Holdings Inc. segments

Full profile >

Advisor Platform

Oligopoly

100%

ResMed Inc. segments

Full profile >

Sleep and Breathing Health

Oligopoly

87.5%

Residential Care Software

Competitive

12.5%

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.