VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Merck & Co., Inc. vs Pro Medicus Limited

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

Merck & Co., Inc.

MRK · New York Stock Exchange

Market cap (USD)$266.4B
Gross margin (TTM)78.3%
Operating margin (TTM)36.4%
Net margin (TTM)29.6%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryUS
Data as of2025-12-22
Moat score
71/ 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 Merck & Co., Inc.'s moat claims, evidence, and risks.

View MRK 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 71 / 100 for Merck & Co., Inc.).
  • Segment focus: Merck & Co., Inc. has 2 segments (89.5% in Pharmaceutical); Pro Medicus Limited has 2 segments (92.5% in Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Merck & Co., Inc. has 5 moat types across 3 domains; Pro Medicus Limited has 6 across 2.

Primary market context

Merck & Co., Inc.

Pharmaceutical

Market

Branded prescription pharmaceuticals & human vaccines

Geography

Global

Customer

Wholesalers/retailers, managed care and government payers, hospitals/clinics

Role

R&D-intensive innovator, manufacturer, and marketer

Revenue share

89.5%

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

Merck & Co., Inc.
Pro Medicus Limited
Ticker / Exchange
MRK - New York Stock Exchange
PME - ASX
Market cap (USD)
$266.4B
$15.5B
Gross margin (TTM)
78.3%
n/a
Operating margin (TTM)
36.4%
n/a
Net margin (TTM)
29.6%
n/a
Sector
Healthcare
Healthcare
Industry
Drug Manufacturers - General
n/a
HQ country
US
AU
Primary segment
Pharmaceutical
Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)
Market structure
Competitive
Oligopoly
Market share
n/a
55% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
71 / 100
80 / 100
Moat domains
Legal, Supply, Demand
Demand, Supply
Last update
2025-12-22
2026-01-02

Moat coverage

Shared moat types

Data Workflow Lockin

Merck & Co., Inc. strengths

IP Choke PointRegulated Standards PipeCapex Knowhow ScaleScope Economies

Pro Medicus Limited strengths

Keystone ComponentOperational ExcellenceSuite BundlingSwitching Costs GeneralLong Term Contracts

Segment mix

Merck & Co., Inc. segments

Full profile >

Pharmaceutical

Competitive

89.5%

Animal Health

Oligopoly

9.2%

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?

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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.