VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 9, 2026

Stock Comparison

Novo Nordisk A/S vs ResMed Inc.

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

Novo Nordisk A/S

NOVOB · Nasdaq Copenhagen

Market cap (USD)$232.3B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
CountryDK
Data as of2025-12-28
Moat score
85/ 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 Novo Nordisk A/S's moat claims, evidence, and risks.

View NOVOB 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: Novo Nordisk A/S leads (85 / 100 vs 76 / 100 for ResMed Inc.).
  • Segment focus: Novo Nordisk A/S has 3 segments (71.1% in Diabetes care); ResMed Inc. has 2 segments (87.5% in Sleep and Breathing Health).
  • Moat breadth: Novo Nordisk A/S has 5 moat types across 3 domains; ResMed Inc. has 7 across 2.

Primary market context

Novo Nordisk A/S

Diabetes care

Market

Diabetes pharmaceuticals (GLP-1 for type 2 diabetes, insulin, and related therapies)

Geography

Global

Customer

Payers/providers and patients (via wholesalers/pharmacies/hospitals)

Role

Originator pharma (R&D, regulatory, manufacturing, commercialization)

Revenue share

71.1%

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

Novo Nordisk A/S
ResMed Inc.
Ticker / Exchange
NOVOB - Nasdaq Copenhagen
RMD - New York Stock Exchange
Market cap (USD)
$232.3B
$36B
Gross margin (TTM)
n/a
60.1%
Operating margin (TTM)
n/a
33.2%
Net margin (TTM)
n/a
27.4%
Sector
Healthcare
Healthcare
Industry
n/a
Medical - Instruments & Supplies
HQ country
DK
US
Primary segment
Diabetes care
Sleep and Breathing Health
Market structure
Oligopoly
Oligopoly
Market share
33.7% (reported)
58%-66% (estimated)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
85 / 100
76 / 100
Moat domains
Legal, Supply, Demand
Demand, Legal
Last update
2025-12-28
2026-01-04

Moat coverage

Shared moat types

IP Choke PointBrand Trust

Novo Nordisk A/S strengths

Regulated Standards PipeCapacity MoatLearning Curve Yield

ResMed Inc. strengths

Installed Base ConsumablesData Workflow LockinCompliance AdvantageLong Term ContractsTraining Org Change Costs

Segment mix

Novo Nordisk A/S segments

Full profile >

Diabetes care

Oligopoly

71.1%

Obesity care

Duopoly

22.4%

Rare disease

Oligopoly

6.4%

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.