VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Mastercard Incorporated vs Pro Medicus Limited

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

Mastercard Incorporated

MA · New York Stock Exchange

Market cap (USD)$507.2B
Gross margin (TTM)77.5%
Operating margin (TTM)57%
Net margin (TTM)45.3%
SectorFinancials
IndustryFinancial - Credit Services
CountryUS
Data as of2025-12-21
Moat score
77/ 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 Mastercard Incorporated's moat claims, evidence, and risks.

View MA analysis

Pro Medicus Limited

PME · ASX

Market cap (USD)$15.5B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryAU
Data as of
Moat score
80/ 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 Pro Medicus Limited's moat claims, evidence, and risks.

View PME analysis

Comparison highlights

  • Moat score gap: Pro Medicus Limited leads (80 / 100 vs 77 / 100 for Mastercard Incorporated).
  • Segment focus: Mastercard Incorporated has 2 segments (61.5% in Payment Network); Pro Medicus Limited has 2 segments (92.5% in Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Mastercard Incorporated has 6 moat types across 3 domains; Pro Medicus Limited has 6 across 2.

Primary market context

Mastercard Incorporated

Payment Network

Market

Four-party card payment network (switching, acceptance, and network-related services)

Geography

Global

Customer

Issuers, acquirers, merchants, account holders

Role

Network operator (authorization, clearing, settlement) and rules/standards steward

Revenue share

61.5%

Pro Medicus Limited

Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)

Market

Enterprise imaging / PACS and related modules for hospitals and integrated delivery networks (IDNs)

Geography

Primarily North America; also Europe and Australia

Customer

Hospitals, imaging centers, integrated delivery networks (IDNs)

Role

Healthcare IT software vendor / platform provider

Revenue share

92.5%

Side-by-side metrics

Mastercard Incorporated
Pro Medicus Limited
Ticker / Exchange
MA - New York Stock Exchange
PME - ASX
Market cap (USD)
$507.2B
$15.5B
Gross margin (TTM)
77.5%
n/a
Operating margin (TTM)
57%
n/a
Net margin (TTM)
45.3%
n/a
Sector
Financials
Healthcare
Industry
Financial - Credit Services
n/a
HQ country
US
AU
Primary segment
Payment Network
Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)
Market structure
Oligopoly
Oligopoly
Market share
29.7% (reported)
55% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
77 / 100
80 / 100
Moat domains
Network, Demand, Legal
Demand, Supply
Last update
2025-12-21
2026-01-02

Moat coverage

Shared moat types

Data Workflow Lockin

Mastercard Incorporated strengths

Two Sided NetworkClearing SettlementBrand TrustRegulated Standards PipeData Network Effects

Pro Medicus Limited strengths

Keystone ComponentOperational ExcellenceSuite BundlingSwitching Costs GeneralLong Term Contracts

Segment mix

Mastercard Incorporated segments

Full profile >

Payment Network

Oligopoly

61.5%

Value-Added Services and Solutions

Competitive

38.5%

Pro Medicus Limited segments

Full profile >

Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)

Oligopoly

92.5%

Visage RIS (Radiology Information System) and Promedicus.net

Oligopoly

7.5%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

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.