VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Siemens Healthineers AG vs Spirax Group plc

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

Siemens Healthineers AG

SHL · XETRA

Market cap (USD)
SectorHealthcare
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

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$6.7B
SectorIndustrials
CountryGB
Data as of2025-12-28
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 Spirax Group plc's moat claims, evidence, and risks.

View SPX analysis

Comparison highlights

  • Moat score gap: Spirax Group plc leads (71 / 100 vs 68 / 100 for Siemens Healthineers AG).
  • Segment focus: Siemens Healthineers AG has 4 segments (54.6% in Imaging); Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions).
  • Moat breadth: Siemens Healthineers AG has 8 moat types across 3 domains; Spirax Group plc has 6 across 2.

Primary market context

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%

Spirax Group plc

Steam Thermal Solutions

Market

Industrial and commercial steam systems (condensate management, controls, thermal energy management products and solutions)

Geography

Global

Customer

Industrial process operators and commercial facility operators

Role

OEM / solutions provider

Revenue share

52.1%

Side-by-side metrics

Siemens Healthineers AG
Spirax Group plc
Ticker / Exchange
SHL - XETRA
SPX - London Stock Exchange
Market cap (USD)
n/a
$6.7B
Sector
Healthcare
Industrials
HQ country
DE
GB
Primary segment
Imaging
Steam Thermal Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
68 / 100
71 / 100
Moat domains
Supply, Demand, Network
Supply, Demand
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

Service Field NetworkCapex Knowhow ScaleInstalled Base ConsumablesDesign In Qualification

Siemens Healthineers AG strengths

Data Workflow LockinLong Term ContractsEcosystem ComplementsSwitching Costs General

Spirax Group plc strengths

Brand TrustSuite Bundling

Segment mix

Siemens Healthineers AG segments

Full profile >

Imaging

Oligopoly

54.6%

Diagnostics

Oligopoly

18.7%

Varian

Oligopoly

17.6%

Advanced Therapies

Oligopoly

9.1%

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

52.1%

Electric Thermal Solutions

Competitive

24.3%

Watson-Marlow Fluid Technology Solutions

Oligopoly

23.6%

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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.