VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Roche Holding AG vs Siemens Healthineers AG

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

Roche Holding AG

ROG · SIX Swiss Exchange

Market cap (USD)$292.8B
Gross margin (TTM)73.4%
Operating margin (TTM)30.8%
Net margin (TTM)17.1%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryCH
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 Roche Holding AG's moat claims, evidence, and risks.

View ROG analysis

Siemens Healthineers AG

SHL · XETRA

Market cap (USD)$47.3B
Gross margin (TTM)38.4%
Operating margin (TTM)14.7%
Net margin (TTM)9.1%
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: both at 68 / 100.
  • Segment focus: Roche Holding AG has 2 segments (76.3% in Pharmaceuticals); Siemens Healthineers AG has 4 segments (54.6% in Imaging).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Roche Holding AG has 5 moat types across 3 domains; Siemens Healthineers AG has 8 across 3.

Primary market context

Roche Holding AG

Pharmaceuticals

Market

Innovative (branded) prescription pharmaceuticals

Geography

Global

Customer

Healthcare providers and systems (hospitals/clinics), payers/governments, and patients

Role

Innovator pharmaceutical developer, manufacturer and marketer

Revenue share

76.3%

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

Roche Holding AG
Siemens Healthineers AG
Ticker / Exchange
ROG - SIX Swiss Exchange
SHL - XETRA
Market cap (USD)
$292.8B
$47.3B
Gross margin (TTM)
73.4%
38.4%
Operating margin (TTM)
30.8%
14.7%
Net margin (TTM)
17.1%
9.1%
Sector
Healthcare
Healthcare
Industry
Drug Manufacturers - General
Medical - Devices
HQ country
CH
DE
Primary segment
Pharmaceuticals
Imaging
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
68 / 100
68 / 100
Moat domains
Legal, Supply, Demand
Supply, Demand, Network
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

Capex Knowhow ScaleInstalled Base ConsumablesData Workflow Lockin

Roche Holding AG strengths

IP Choke PointRegulated Standards Pipe

Siemens Healthineers AG strengths

Service Field NetworkLong Term ContractsDesign In QualificationEcosystem ComplementsSwitching Costs General

Segment mix

Roche Holding AG segments

Full profile >

Pharmaceuticals

Competitive

76.3%

Diagnostics

Oligopoly

23.7%

Siemens Healthineers AG segments

Full profile >

Imaging

Oligopoly

54.6%

Diagnostics

Oligopoly

18.7%

Varian

Oligopoly

17.6%

Advanced Therapies

Oligopoly

9.1%

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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.