VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

Xero Limited vs Zimmer Biomet Holdings, Inc.

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

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

Zimmer Biomet Holdings, Inc.

ZBH · New York Stock Exchange

Market cap (USD)$17.9B
Gross margin (TTM)71.4%
Operating margin (TTM)16.6%
Net margin (TTM)10.1%
SectorHealthcare
IndustryMedical - Devices
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 Xero Limited).
  • Segment focus: Xero Limited has 2 segments; Zimmer Biomet Holdings, Inc. has 4 segments (41.3% in Knees).
  • Moat breadth: Xero Limited has 7 moat types across 3 domains; Zimmer Biomet Holdings, Inc. has 7 across 5.

Primary market context

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)

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

Xero Limited
Zimmer Biomet Holdings, Inc.
Ticker / Exchange
XRO - Australian Securities Exchange
ZBH - New York Stock Exchange
Market cap (USD)
n/a
$17.9B
Gross margin (TTM)
n/a
71.4%
Operating margin (TTM)
n/a
16.6%
Net margin (TTM)
n/a
10.1%
Sector
Technology
Healthcare
Industry
n/a
Medical - Devices
HQ country
NZ
US
Primary segment
Core Accounting Subscription Platform
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
Demand, Network, Financial
Demand, Supply, Legal, Financial, Network
Last update
2026-01-02
2025-12-23

Moat coverage

Shared moat types

Data Workflow LockinBenchmark Pricing PowerEcosystem Complements

Xero Limited strengths

Switching Costs GeneralTwo Sided NetworkInteroperability HubSuite Bundling

Zimmer Biomet Holdings, Inc. strengths

Design In QualificationService Field NetworkRegulated Standards PipeScope Economies

Segment mix

Xero Limited segments

Full profile >

Core Accounting Subscription Platform

Oligopoly

n/a

Platform Services (Payments, Payroll, App Ecosystem)

Competitive

n/a

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%

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.