VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

Veeva Systems Inc. vs Xero Limited

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

Veeva Systems Inc.

VEEV · New York Stock Exchange

Market cap (USD)$36.2B
Gross margin (TTM)75.7%
Operating margin (TTM)27.9%
Net margin (TTM)27.9%
SectorTechnology
IndustryMedical - Healthcare Information Services
CountryUS
Data as of2025-12-29
Moat score
82/ 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 Veeva Systems Inc.'s moat claims, evidence, and risks.

View VEEV analysis

Xero Limited

XRO · Australian Securities Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryNZ
Data as of2026-01-02
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 Xero Limited's moat claims, evidence, and risks.

View XRO analysis

Comparison highlights

  • Moat score gap: Veeva Systems Inc. leads (82 / 100 vs 71 / 100 for Xero Limited).
  • Segment focus: Veeva Systems Inc. has 2 segments (53% in R&D Solutions); Xero Limited has 2 segments.
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Veeva Systems Inc. has 4 moat types across 3 domains; Xero Limited has 7 across 3.

Primary market context

Veeva Systems Inc.

R&D Solutions

Market

Life sciences R&D, clinical, regulatory, safety, and quality cloud applications (Vault platform-based suites)

Geography

Global

Customer

Life sciences companies plus CROs and related regulated organizations

Role

Vertical SaaS platform owner

Revenue share

53%

Xero Limited

Core Accounting Subscription Platform

Market

Cloud accounting software for small businesses and their advisors

Geography

Global

Customer

SMB; accountants & bookkeepers

Role

Software platform (SaaS)

Side-by-side metrics

Veeva Systems Inc.
Xero Limited
Ticker / Exchange
VEEV - New York Stock Exchange
XRO - Australian Securities Exchange
Market cap (USD)
$36.2B
n/a
Gross margin (TTM)
75.7%
n/a
Operating margin (TTM)
27.9%
n/a
Net margin (TTM)
27.9%
n/a
Sector
Technology
Technology
Industry
Medical - Healthcare Information Services
n/a
HQ country
US
NZ
Primary segment
R&D Solutions
Core Accounting Subscription Platform
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
82 / 100
71 / 100
Moat domains
Demand, Legal, Network
Demand, Network, Financial
Last update
2025-12-29
2026-01-02

Moat coverage

Shared moat types

Data Workflow LockinEcosystem ComplementsSuite Bundling

Veeva Systems Inc. strengths

Compliance Advantage

Xero Limited strengths

Switching Costs GeneralTwo Sided NetworkBenchmark Pricing PowerInteroperability Hub

Segment mix

Veeva Systems Inc. segments

Full profile >

Commercial Solutions

Oligopoly

47%

R&D Solutions

Competitive

53%

Xero Limited segments

Full profile >

Core Accounting Subscription Platform

Oligopoly

n/a

Platform Services (Payments, Payroll, App Ecosystem)

Competitive

n/a

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.