VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

PDD Holdings Inc. vs ResMed Inc.

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

PDD Holdings Inc.

PDD · NASDAQ

Market cap (USD)$166.7B
Gross margin (TTM)56.7%
Operating margin (TTM)22.1%
Net margin (TTM)24.4%
SectorConsumer
IndustrySpecialty Retail
CountryKY
Data as of2025-12-29
Moat score
44/ 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 PDD Holdings Inc.'s moat claims, evidence, and risks.

View PDD 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: ResMed Inc. leads (76 / 100 vs 44 / 100 for PDD Holdings Inc.).
  • Segment focus: PDD Holdings Inc. has 2 segments; ResMed Inc. has 2 segments (87.5% in Sleep and Breathing Health).
  • Moat breadth: PDD Holdings Inc. has 4 moat types across 4 domains; ResMed Inc. has 7 across 2.

Primary market context

PDD Holdings Inc.

Pinduoduo China marketplace

Market

China online retail marketplace (value-for-money focus)

Geography

China

Customer

Consumers & third-party merchants

Role

Online marketplace platform

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

PDD Holdings Inc.
ResMed Inc.
Ticker / Exchange
PDD - NASDAQ
RMD - New York Stock Exchange
Market cap (USD)
$166.7B
$36B
Gross margin (TTM)
56.7%
60.1%
Operating margin (TTM)
22.1%
33.2%
Net margin (TTM)
24.4%
27.4%
Sector
Consumer
Healthcare
Industry
Specialty Retail
Medical - Instruments & Supplies
HQ country
KY
US
Primary segment
Pinduoduo China marketplace
Sleep and Breathing Health
Market structure
Oligopoly
Oligopoly
Market share
n/a
58%-66% (estimated)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
44 / 100
76 / 100
Moat domains
Network, Supply, Financial, Legal
Demand, Legal
Last update
2025-12-29
2026-01-04

Moat coverage

Shared moat types

Compliance Advantage

PDD Holdings Inc. strengths

Two Sided NetworkScale Economies Unit CostFloat Prepayment

ResMed Inc. strengths

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

Segment mix

PDD Holdings Inc. segments

Full profile >

Pinduoduo China marketplace

Oligopoly

n/a

Temu international marketplace

Competitive

n/a

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?

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

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Looking for expansion-stage stocks?

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.