VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Philip Morris International Inc. vs ResMed Inc.

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

Philip Morris International Inc.

PM · New York Stock Exchange

Market cap (USD)$248.8B
Gross margin (TTM)66.3%
Operating margin (TTM)37.7%
Net margin (TTM)21.6%
SectorConsumer
IndustryTobacco
CountryUS
Data as of2025-12-31
Moat score
84/ 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 Philip Morris International Inc.'s moat claims, evidence, and risks.

View PM 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: Philip Morris International Inc. leads (84 / 100 vs 76 / 100 for ResMed Inc.).
  • Segment focus: Philip Morris International Inc. has 3 segments (61.3% in Combustible Tobacco); ResMed Inc. has 2 segments (87.5% in Sleep and Breathing Health).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Philip Morris International Inc. has 6 moat types across 3 domains; ResMed Inc. has 7 across 2.

Primary market context

Philip Morris International Inc.

Combustible Tobacco

Market

International combustible tobacco (primarily cigarettes)

Geography

Global (primarily ex-U.S.)

Customer

Adult smokers; distributors/wholesalers and retail channels

Role

Branded manufacturer and distributor

Revenue share

61.3%

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

Philip Morris International Inc.
ResMed Inc.
Ticker / Exchange
PM - New York Stock Exchange
RMD - New York Stock Exchange
Market cap (USD)
$248.8B
$36B
Gross margin (TTM)
66.3%
60.1%
Operating margin (TTM)
37.7%
33.2%
Net margin (TTM)
21.6%
27.4%
Sector
Consumer
Healthcare
Industry
Tobacco
Medical - Instruments & Supplies
HQ country
US
US
Primary segment
Combustible Tobacco
Sleep and Breathing Health
Market structure
Oligopoly
Oligopoly
Market share
25.3% (reported)
58%-66% (estimated)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
84 / 100
76 / 100
Moat domains
Demand, Supply, Legal
Demand, Legal
Last update
2025-12-31
2026-01-04

Moat coverage

Shared moat types

Brand TrustCompliance AdvantageInstalled Base ConsumablesIP Choke Point

Philip Morris International Inc. strengths

Distribution ControlRegulated Standards Pipe

ResMed Inc. strengths

Data Workflow LockinLong Term ContractsTraining Org Change Costs

Segment mix

Philip Morris International Inc. segments

Full profile >

Combustible Tobacco

Oligopoly

61.3%

Smoke-Free Products

Oligopoly

37.8%

Wellness & Healthcare

Competitive

0.9%

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.