Zynex, Inc., together with its subsidiaries, designs, manufactures, and markets medical devices to treat chronic and acute pain, and activate and exercise muscles for rehabilitative purposes with electrical stimulation. The company offers NexWave, a dual channel, multi-modality interferential current, transcutaneous electrical nerve stimulation, and neuromuscular electrical stimulation (NMES) device that is marketed to physicians and therapists by field sales representatives; …
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Competitive advantage assessment
Key strengths
Margins Consistently Above PeersGross margin at 79.5% (top 0%) and operating margin at 3.1% (top 10%) indicate strong pricing power.
Cash Generation ConsistentCash generation is consistent (score 1.00), indicating reliable business model.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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Zynex, Inc. ranks #5 of 12
scored companies in Medical Distribution by moat score — the top 42%.
The widest moat in the group is McKesson Corporation (MCK)
at 75/100.
Moat scores for companies ranked near ZYXI in Medical Distribution
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 45
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 67
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 72
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 72
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 45
· 15% of the moat score
Scale matters only when it converts into economics.
Zynex, Inc. (ZYXI) scores 59 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #5 of 12 scored companies in Medical Distribution, the top 42%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 11 companies in Medical Distribution. Its strongest defense is Capital Efficiency (72/100) and its weakest is Cost Advantage (45/100).
How does Zynex, Inc. compare with other Medical Distribution companies?
Zynex, Inc. ranks #5 of 12 scored companies in Medical Distribution by moat score. The widest moat in Medical Distribution is McKesson Corporation (MCK) at 75/100. The companies ranked closest are Cencora, Inc. (COR) at 60 just above it and Owens & Minor, Inc. (OMI) at 52 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 11 companies in Medical Distribution. The defenses are then weighted to produce the overall score out of 100.
Why is Zynex, Inc. scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Zynex, Inc.?
The Corporate Default template measures 6 defenses, and ZYXI scores: Pricing Power (52), Cost Advantage (45), Customer Stickiness (67), Capital Efficiency (72), Resilience (72), Scale & Market Position (45). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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