VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Siemens Healthineers AG vs Tradeweb Markets Inc.

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

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

Tradeweb Markets Inc.

TW · Nasdaq Global Select Market

Market cap (USD)$23.6B
Gross margin (TTM)66.7%
Operating margin (TTM)40.3%
Net margin (TTM)31.6%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2026-01-06
Moat score
70/ 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 Tradeweb Markets Inc.'s moat claims, evidence, and risks.

View TW analysis

Comparison highlights

  • Moat score gap: Tradeweb Markets Inc. leads (70 / 100 vs 68 / 100 for Siemens Healthineers AG).
  • Segment focus: Siemens Healthineers AG has 4 segments (54.6% in Imaging); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Moat breadth: Siemens Healthineers AG has 8 moat types across 3 domains; Tradeweb Markets Inc. has 7 across 4.

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%

Tradeweb Markets Inc.

Rates

Market

Electronic dealer-to-client and all-to-all trading in rates (government bonds, mortgages/TBA MBS, interest rate swaps)

Geography

Global

Customer

Institutional, wholesale dealers, and retail via ATS

Role

Electronic marketplace / trading venue

Revenue share

52.4%

Side-by-side metrics

Siemens Healthineers AG
Tradeweb Markets Inc.
Ticker / Exchange
SHL - XETRA
TW - Nasdaq Global Select Market
Market cap (USD)
$50.7B
$23.6B
Gross margin (TTM)
38.6%
66.7%
Operating margin (TTM)
14.7%
40.3%
Net margin (TTM)
9.2%
31.6%
Sector
Healthcare
Financials
Industry
Medical - Devices
Financial - Capital Markets
HQ country
DE
US
Primary segment
Imaging
Rates
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
68 / 100
70 / 100
Moat domains
Supply, Demand, Network
Network, Demand, Legal, Supply
Last update
2025-12-28
2026-01-06

Moat coverage

Shared moat types

Data Workflow LockinLong Term ContractsEcosystem Complements

Siemens Healthineers AG strengths

Service Field NetworkCapex Knowhow ScaleInstalled Base ConsumablesDesign In QualificationSwitching Costs General

Tradeweb Markets Inc. strengths

Two Sided NetworkCompliance AdvantageBrand TrustScope Economies

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%

Tradeweb Markets Inc. segments

Full profile >

Rates

Oligopoly

52.4%

Credit

Oligopoly

26.6%

Equities

Competitive

6%

Money Markets

Oligopoly

6.7%

Market Data

Competitive

6.8%

Other

Competitive

1.4%

Want the full wide moat stocks list?

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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.