VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

ResMed Inc. vs Siemens Healthineers AG

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

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

Siemens Healthineers AG

SHL · XETRA

Market cap (USD)$50.7B
Gross margin (TTM)38.6%
Operating margin (TTM)14.7%
Net margin (TTM)9.2%
SectorHealthcare
IndustryMedical - Devices
CountryDE
Data as of2025-12-28
Moat score
68/ 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 Siemens Healthineers AG's moat claims, evidence, and risks.

View SHL analysis

Comparison highlights

  • Moat score gap: ResMed Inc. leads (76 / 100 vs 68 / 100 for Siemens Healthineers AG).
  • Segment focus: ResMed Inc. has 2 segments (87.5% in Sleep and Breathing Health); Siemens Healthineers AG has 4 segments (54.6% in Imaging).
  • Moat breadth: ResMed Inc. has 7 moat types across 2 domains; Siemens Healthineers AG has 8 across 3.

Primary market context

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%

Siemens Healthineers AG

Imaging

Market

Diagnostic medical imaging equipment and related software/services (MRI, CT, X-ray, molecular imaging, ultrasound)

Geography

Global

Customer

Hospitals, imaging centers, clinics, and integrated delivery networks

Role

OEM + digital platform and service provider

Revenue share

54.6%

Side-by-side metrics

ResMed Inc.
Siemens Healthineers AG
Ticker / Exchange
RMD - New York Stock Exchange
SHL - XETRA
Market cap (USD)
$36B
$50.7B
Gross margin (TTM)
60.1%
38.6%
Operating margin (TTM)
33.2%
14.7%
Net margin (TTM)
27.4%
9.2%
Sector
Healthcare
Healthcare
Industry
Medical - Instruments & Supplies
Medical - Devices
HQ country
US
DE
Primary segment
Sleep and Breathing Health
Imaging
Market structure
Oligopoly
Oligopoly
Market share
58%-66% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
76 / 100
68 / 100
Moat domains
Demand, Legal
Supply, Demand, Network
Last update
2026-01-04
2025-12-28

Moat coverage

Shared moat types

Installed Base ConsumablesData Workflow LockinLong Term Contracts

ResMed Inc. strengths

Brand TrustCompliance AdvantageIP Choke PointTraining Org Change Costs

Siemens Healthineers AG strengths

Service Field NetworkCapex Knowhow ScaleDesign In QualificationEcosystem ComplementsSwitching Costs General

Segment mix

ResMed Inc. segments

Full profile >

Sleep and Breathing Health

Oligopoly

87.5%

Residential Care Software

Competitive

12.5%

Siemens Healthineers AG segments

Full profile >

Imaging

Oligopoly

54.6%

Diagnostics

Oligopoly

18.7%

Varian

Oligopoly

17.6%

Advanced Therapies

Oligopoly

9.1%

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.