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Healthcare Stocks — Earnings Quality & Moat Analysis

22 companies · Peer comparison

Healthcare earnings quality is shaped by R&D pipeline replacement, payer-mix exposure, and regulatory patent-cliff timing. Read the 10-K Risk Factors for FDA actions and the segment MD&A for pipeline-stage commentary. The strongest moats are patent intangibles (branded pharma), regulatory licenses (medical devices), and switching costs (clinical-workflow integration).

Company	Score	GM	ROE	CF/NI	FCF	GW/A
ISRGINTUITIVE SURGICAL INC2025	B87	66.0%	16.0%	1.06x	$2.5B	1.8%
GILDGilead Sciences2025	B86	78.8%	37.5%	1.18x	$9.5B	14.1%
IDXXIDEXX Laboratories2025	B85	61.8%	66.0%	1.12x	$1.1B	12.4%
VRTXVERTEX PHARMACEUTICALS INC2025	B83	86.2%	21.2%	0.92x	$3.2B	4.2%
REGNREGENERON PHARMACEUTICALS INC2025	B81	—	14.4%	1.11x	$4.1B	—
TMOTHERMO FISHER SCIENTIFIC INC.2025	C76	—	12.6%	1.17x	$6.3B	44.7%
ABTABBOTT LABORATORIES2025	C76	56.4%	12.5%	1.47x	$7.4B	27.7%
DXCMDexCom2025	C76	60.1%	30.5%	1.72x	$1.1B	0.4%
SYKSTRYKER CORP2025	C75	64.0%	14.5%	1.55x	$4.3B	40.3%
UNHUNITEDHEALTH GROUP INCORPORATED2025	C73	88.7%	12.0%	1.63x	$16.1B	35.7%
LLYELI LILLY AND COMPANY2025	C71	83.0%	77.8%	0.81x	$16.8B	5.2%
AMGNAMGEN INC2025	C71	67.2%	89.1%	1.29x	$8.1B	20.6%
JNJJohnson & Johnson2025	C70	67.9%	32.9%	0.92x	$19.7B	24.5%
BMYBRISTOL-MYERS SQUIBB COMPANY2025	C70	71.1%	38.2%	2.01x	$12.8B	24.2%
ILMNIllumina2025	D68	66.1%	31.2%	1.27x	$931M	16.8%
PFEPFIZER INC2025	D65	74.3%	9.0%	1.51x	$9.1B	34.2%
DHRDANAHER CORPORATION2025	D65	59.1%	6.9%	1.78x	$5.3B	51.7%
MRKMerck & Co., Inc.2025	D64	74.8%	34.7%	0.90x	$12.4B	15.8%
ABBVABBVIE INC.2025	D64	70.2%	-129.2%	4.50x	$17.8B	26.6%
BIIBBiogen2025	F52	75.7%	7.1%	1.71x	$2.1B	22.0%
GEHCGE HealthCare2025	F44	40.0%	20.1%	—	$-482M	36.5%
MRNAModerna2025	F25	55.3%	-32.6%	0.66x	$-2.1B	0.4%

Strong Moderate WeakGM = Gross Margin · ROE = Return on Equity · CF/NI = Cash Flow/Net Income · FCF = Free Cash Flow · GW/A = Goodwill/Assets