VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

Pro Medicus Limited vs Xero Limited

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

Pro Medicus Limited

PME · ASX

Market cap (USD)$15.5B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
Industry
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

Xero Limited

XRO · Australian Securities Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryNZ
Data as of2026-01-02
Moat score
71/ 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 Xero Limited's moat claims, evidence, and risks.

View XRO analysis

Comparison highlights

  • Moat score gap: Pro Medicus Limited leads (80 / 100 vs 71 / 100 for Xero Limited).
  • Segment focus: Pro Medicus Limited has 2 segments (92.5% in Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)); Xero Limited has 2 segments.
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Pro Medicus Limited has 6 moat types across 2 domains; Xero Limited has 7 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%

Xero Limited

Core Accounting Subscription Platform

Market

Cloud accounting software for small businesses and their advisors

Geography

Global

Customer

SMB; accountants & bookkeepers

Role

Software platform (SaaS)

Side-by-side metrics

Pro Medicus Limited
Xero Limited
Ticker / Exchange
PME - ASX
XRO - Australian Securities Exchange
Market cap (USD)
$15.5B
n/a
Gross margin (TTM)
n/a
n/a
Operating margin (TTM)
n/a
n/a
Net margin (TTM)
n/a
n/a
Sector
Healthcare
Technology
Industry
n/a
n/a
HQ country
AU
NZ
Primary segment
Visage 7 Enterprise Imaging Platform (PACS / CloudPACS)
Core Accounting Subscription Platform
Market structure
Oligopoly
Oligopoly
Market share
55% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
80 / 100
71 / 100
Moat domains
Demand, Supply
Demand, Network, Financial
Last update
2026-01-03
2026-01-02

Moat coverage

Shared moat types

Data Workflow LockinSuite BundlingSwitching Costs General

Pro Medicus Limited strengths

Keystone ComponentOperational ExcellenceLong Term Contracts

Xero Limited strengths

Two Sided NetworkBenchmark Pricing PowerInteroperability HubEcosystem Complements

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%

Xero Limited segments

Full profile >

Core Accounting Subscription Platform

Oligopoly

n/a

Platform Services (Payments, Payroll, App Ecosystem)

Competitive

n/a

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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.