VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

Teqnion AB (publ) vs UnitedHealth Group Incorporated

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

Teqnion AB (publ)

TEQ · Nasdaq First North Growth Market Sweden

Market cap (USD)$3.1B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
IndustryIndustrial - Distribution
CountrySE
Data as of2026-01-08
Moat score
47/ 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 Teqnion AB (publ)'s moat claims, evidence, and risks.

View TEQ analysis

UnitedHealth Group Incorporated

UNH · New York Stock Exchange

Market cap (USD)$311.6B
Gross margin (TTM)19.7%
Operating margin (TTM)6.1%
Net margin (TTM)4%
SectorHealthcare
IndustryMedical - Healthcare Plans
CountryUS
Data as of2025-12-31
Moat score
64/ 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 UnitedHealth Group Incorporated's moat claims, evidence, and risks.

View UNH analysis

Comparison highlights

  • Moat score gap: UnitedHealth Group Incorporated leads (64 / 100 vs 47 / 100 for Teqnion AB (publ)).
  • Segment focus: Teqnion AB (publ) has 4 segments; UnitedHealth Group Incorporated has 4 segments (74.9% in UnitedHealthcare).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: n/a vs Weak.
  • Moat breadth: Teqnion AB (publ) has 8 moat types across 2 domains; UnitedHealth Group Incorporated has 5 across 2.

Primary market context

Teqnion AB (publ)

Acquisition & Portfolio Platform (Active, long-term ownership)

Market

Acquisition and long-term ownership of profitable niche industrial SMEs

Geography

Nordics, UK, Ireland

Customer

Business owners / sellers; subsidiary management teams

Role

Acquirer / holding company / active owner

UnitedHealth Group Incorporated

UnitedHealthcare

Market

U.S. health benefits / managed care (commercial, Medicare Advantage, Medicaid managed care)

Geography

United States (primarily)

Customer

Employers, individuals, and government-sponsored programs

Role

Health insurer / managed care organization

Revenue share

74.9%

Side-by-side metrics

Teqnion AB (publ)
UnitedHealth Group Incorporated
Ticker / Exchange
TEQ - Nasdaq First North Growth Market Sweden
UNH - New York Stock Exchange
Market cap (USD)
$3.1B
$311.6B
Gross margin (TTM)
n/a
19.7%
Operating margin (TTM)
n/a
6.1%
Net margin (TTM)
n/a
4%
Sector
Financials
Healthcare
Industry
Industrial - Distribution
Medical - Healthcare Plans
HQ country
SE
US
Primary segment
Acquisition & Portfolio Platform (Active, long-term ownership)
UnitedHealthcare
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
n/a
Weak
Moat score
47 / 100
64 / 100
Moat domains
Supply, Demand
Supply, Demand
Last update
2026-01-08
2025-12-31

Moat coverage

Shared moat types

Operational Excellence

Teqnion AB (publ) strengths

Preferential Input AccessScope EconomiesDistribution ControlProcurement InertiaDesign In QualificationSwitching Costs GeneralLearning Curve Yield

UnitedHealth Group Incorporated strengths

Scale Economies Unit CostSuite BundlingData Workflow LockinTraining Org Change Costs

Segment mix

Teqnion AB (publ) segments

Full profile >

Acquisition & Portfolio Platform (Active, long-term ownership)

Competitive

n/a

Agency & Distribution Businesses

Competitive

n/a

Niche Product & Service Companies

Competitive

n/a

Manufacturing (Own-brand and Contract/OEM)

Competitive

n/a

UnitedHealth Group Incorporated segments

Full profile >

UnitedHealthcare

Oligopoly

74.9%

Optum Health

Competitive

9.9%

Optum Insight

Competitive

1.7%

Optum Rx

Oligopoly

13.5%

Want the full wide moat stocks list?

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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.