VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Spirax Group plc vs Zimmer Biomet Holdings, Inc.

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

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

Zimmer Biomet Holdings, Inc.

ZBH · New York Stock Exchange

Market cap (USD)
SectorHealthcare
CountryUS
Data as of2025-12-23
Moat score
72/ 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 Zimmer Biomet Holdings, Inc.'s moat claims, evidence, and risks.

View ZBH analysis

Comparison highlights

  • Moat score gap: Zimmer Biomet Holdings, Inc. leads (72 / 100 vs 71 / 100 for Spirax Group plc).
  • Segment focus: Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions); Zimmer Biomet Holdings, Inc. has 4 segments (41.3% in Knees).
  • Moat breadth: Spirax Group plc has 6 moat types across 2 domains; Zimmer Biomet Holdings, Inc. has 7 across 5.

Primary market context

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%

Zimmer Biomet Holdings, Inc.

Knees

Market

Knee reconstruction implants (primary, partial, revision) plus associated instruments and orthopedic robotics/navigation

Geography

Global

Customer

Hospitals and ambulatory surgery centers

Role

OEM manufacturer

Revenue share

41.3%

Side-by-side metrics

Spirax Group plc
Zimmer Biomet Holdings, Inc.
Ticker / Exchange
SPX - London Stock Exchange
ZBH - New York Stock Exchange
Market cap (USD)
$6.7B
n/a
Sector
Industrials
Healthcare
HQ country
GB
US
Primary segment
Steam Thermal Solutions
Knees
Market structure
Oligopoly
Oligopoly
Market share
n/a
30.1% (reported)
HHI estimate
n/a
2,265
Pricing power
Moderate
Moderate
Moat score
71 / 100
72 / 100
Moat domains
Supply, Demand
Demand, Supply, Legal, Financial, Network
Last update
2025-12-28
2025-12-23

Moat coverage

Shared moat types

Service Field NetworkDesign In Qualification

Spirax Group plc strengths

Installed Base ConsumablesBrand TrustCapex Knowhow ScaleSuite Bundling

Zimmer Biomet Holdings, Inc. strengths

Regulated Standards PipeBenchmark Pricing PowerScope EconomiesEcosystem ComplementsData Workflow Lockin

Segment mix

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%

Zimmer Biomet Holdings, Inc. segments

Full profile >

Knees

Oligopoly

41.3%

Hips

Oligopoly

26%

S.E.T. (Sports Medicine, Extremities, Trauma, CMFT)

Competitive

24.3%

Technology & Data, Bone Cement and Surgical

Oligopoly

8.3%

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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.