VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Pro Medicus Limited vs Watsco, Inc.

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

Pro Medicus Limited

PME · ASX

Market cap (USD)$22.3B
Gross margin (TTM)77.8%
Operating margin (TTM)72.1%
Net margin (TTM)52.9%
SectorHealthcare
IndustryMedical - Healthcare Information Services
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

Watsco, Inc.

WSO · New York Stock Exchange

Market cap (USD)$14.4B
Gross margin (TTM)28.3%
Operating margin (TTM)10.2%
Net margin (TTM)7.4%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-05
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 Watsco, Inc.'s moat claims, evidence, and risks.

View WSO analysis

Comparison highlights

  • Moat score gap: Pro Medicus Limited leads (80 / 100 vs 72 / 100 for Watsco, Inc.).
  • Segment focus: Pro Medicus Limited has 2 segments (92.5% in Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Strong vs Moderate.
  • Moat breadth: Pro Medicus Limited has 6 moat types across 2 domains; Watsco, Inc. has 4 across 3.

Primary market context

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%

Watsco, Inc.

HVAC/R Distribution

Market

HVAC/R equipment, parts and supplies distribution

Geography

North America (U.S., Canada, Mexico, Puerto Rico; export to Latin America/Caribbean)

Customer

Licensed HVAC and refrigeration contractors (residential & commercial)

Role

Wholesale distributor

Revenue share

100%

Side-by-side metrics

Pro Medicus Limited
Watsco, Inc.
Ticker / Exchange
PME - ASX
WSO - New York Stock Exchange
Market cap (USD)
$22.3B
$14.4B
Gross margin (TTM)
77.8%
28.3%
Operating margin (TTM)
72.1%
10.2%
Net margin (TTM)
52.9%
7.4%
Sector
Healthcare
Industrials
Industry
Medical - Healthcare Information Services
Industrial - Distribution
HQ country
AU
US
Primary segment
Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)
HVAC/R Distribution
Market structure
Oligopoly
Competitive
Market share
55% (implied)
9%-12% (implied)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
80 / 100
72 / 100
Moat domains
Demand, Supply
Supply, Legal, Demand
Last update
2026-01-08
2026-01-05

Moat coverage

Shared moat types

Data Workflow Lockin

Pro Medicus Limited strengths

Keystone ComponentOperational ExcellenceSuite BundlingSwitching Costs GeneralLong Term Contracts

Watsco, Inc. strengths

Physical Network DensityContractual ExclusivityScale Economies Unit Cost

Segment mix

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%

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

Want the full wide moat stocks list?

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

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.