VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Thursday, January 8, 2026

Stock Comparison

Advantech Co., Ltd. vs Paychex, Inc.

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

Advantech Co., Ltd.

2395 · Taiwan Stock Exchange

Market cap (USD)$248.8B
Gross margin (TTM)39.8%
Operating margin (TTM)16.2%
Net margin (TTM)14.6%
SectorTechnology
IndustryComputer Hardware
CountryTW
Data as of2025-12-28
Moat score
62/ 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 Advantech Co., Ltd.'s moat claims, evidence, and risks.

View 2395 analysis

Paychex, Inc.

PAYX · NASDAQ Global Select Market

Market cap (USD)$39.4B
Gross margin (TTM)73.4%
Operating margin (TTM)37.1%
Net margin (TTM)26.5%
SectorIndustrials
IndustryStaffing & Employment Services
CountryUS
Data as of2026-01-04
Moat score
66/ 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 Paychex, Inc.'s moat claims, evidence, and risks.

View PAYX analysis

Comparison highlights

  • Moat score gap: Paychex, Inc. leads (66 / 100 vs 62 / 100 for Advantech Co., Ltd.).
  • Segment focus: Advantech Co., Ltd. has 3 segments (49% in Industrial Computer and Industrial Control); Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Advantech Co., Ltd. has 5 moat types across 3 domains; Paychex, Inc. has 7 across 4.

Primary market context

Advantech Co., Ltd.

Industrial Computer and Industrial Control

Market

Industrial PCs and industrial control computing (industrial automation, edge industrial computing)

Geography

Global

Customer

Industrial enterprises, system integrators, and industrial OEMs

Role

Industrial computing OEM + solution integrator

Revenue share

49%

Paychex, Inc.

Management Solutions

Market

Payroll processing and integrated HCM solutions for SMB and mid-market employers

Geography

United States (primarily)

Customer

Employers (SMB and mid-market)

Role

HCM SaaS + outsourced payroll/HR service provider

Revenue share

73%

Side-by-side metrics

Advantech Co., Ltd.
Paychex, Inc.
Ticker / Exchange
2395 - Taiwan Stock Exchange
PAYX - NASDAQ Global Select Market
Market cap (USD)
$248.8B
$39.4B
Gross margin (TTM)
39.8%
73.4%
Operating margin (TTM)
16.2%
37.1%
Net margin (TTM)
14.6%
26.5%
Sector
Technology
Industrials
Industry
Computer Hardware
Staffing & Employment Services
HQ country
TW
US
Primary segment
Industrial Computer and Industrial Control
Management Solutions
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
62 / 100
66 / 100
Moat domains
Demand, Supply, Network
Demand, Supply, Legal, Financial
Last update
2025-12-28
2026-01-04

Moat coverage

Shared moat types

Service Field NetworkData Workflow Lockin

Advantech Co., Ltd. strengths

Design In QualificationEcosystem ComplementsInstalled Base Consumables

Paychex, Inc. strengths

Suite BundlingCompliance AdvantageUnderwriting Risk PoolingSwitching Costs GeneralFloat Prepayment

Segment mix

Advantech Co., Ltd. segments

Full profile >

Industrial Computer and Industrial Control

Competitive

49%

Embedded Boards and Chassis

Competitive

41%

After-sales Service and Others

Competitive

10%

Paychex, Inc. segments

Full profile >

Management Solutions

Oligopoly

73%

PEO and Insurance Solutions

Competitive

24.1%

Client funds float (interest on funds held for clients)

Oligopoly

2.9%

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.