VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Novo Nordisk A/S vs Zimmer Biomet Holdings, 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
SectorHealthcare
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

Zimmer Biomet Holdings, Inc.

ZBH · New York Stock Exchange

Market cap (USD)
SectorHealthcare
CountryUS
Data as of2025-12-23
Moat score
72/ 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 Zimmer Biomet Holdings, Inc.'s moat claims, evidence, and risks.

View ZBH analysis

Comparison highlights

  • Moat score gap: Novo Nordisk A/S leads (85 / 100 vs 72 / 100 for Zimmer Biomet Holdings, Inc.).
  • Segment focus: Novo Nordisk A/S has 3 segments (71.1% in Diabetes care); Zimmer Biomet Holdings, Inc. has 4 segments (41.3% in Knees).
  • Moat breadth: Novo Nordisk A/S has 5 moat types across 3 domains; Zimmer Biomet Holdings, Inc. has 7 across 5.

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%

Zimmer Biomet Holdings, Inc.

Knees

Market

Knee reconstruction implants (primary, partial, revision) plus associated instruments and orthopedic robotics/navigation

Geography

Global

Customer

Hospitals and ambulatory surgery centers

Role

OEM manufacturer

Revenue share

41.3%

Side-by-side metrics

Novo Nordisk A/S
Zimmer Biomet Holdings, Inc.
Ticker / Exchange
NOVOB - Nasdaq Copenhagen
ZBH - New York Stock Exchange
Market cap (USD)
$232.3B
n/a
Sector
Healthcare
Healthcare
HQ country
DK
US
Primary segment
Diabetes care
Knees
Market structure
Oligopoly
Oligopoly
Market share
33.7% (reported)
30.1% (reported)
HHI estimate
n/a
2,265
Pricing power
Moderate
Moderate
Moat score
85 / 100
72 / 100
Moat domains
Legal, Supply, Demand
Demand, Supply, Legal, Financial, Network
Last update
2025-12-28
2025-12-23

Moat coverage

Shared moat types

Regulated Standards Pipe

Novo Nordisk A/S strengths

IP Choke PointCapacity MoatBrand TrustLearning Curve Yield

Zimmer Biomet Holdings, Inc. strengths

Design In QualificationService Field NetworkBenchmark Pricing PowerScope EconomiesEcosystem ComplementsData Workflow Lockin

Segment mix

Novo Nordisk A/S segments

Full profile >

Diabetes care

Oligopoly

71.1%

Obesity care

Duopoly

22.4%

Rare disease

Oligopoly

6.4%

Zimmer Biomet Holdings, Inc. segments

Full profile >

Knees

Oligopoly

41.3%

Hips

Oligopoly

26%

S.E.T. (Sports Medicine, Extremities, Trauma, CMFT)

Competitive

24.3%

Technology & Data, Bone Cement and Surgical

Oligopoly

8.3%

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.