VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

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Stock Comparison

Automatic Data Processing, Inc. vs Alcon Inc.

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

Automatic Data Processing, Inc.

ADP · NASDAQ

Market cap (USD)$107.6B
Gross margin (TTM)49.3%
Operating margin (TTM)19.2%
Net margin (TTM)19.8%
SectorTechnology
IndustryStaffing & Employment Services
CountryUS
Data as of2025-12-30
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 Automatic Data Processing, Inc.'s moat claims, evidence, and risks.

View ADP analysis

Alcon Inc.

ALC · New York Stock Exchange

Market cap (USD)$39.8B
Gross margin (TTM)—
Operating margin (TTM)—
Net margin (TTM)—
SectorHealthcare
Industry—
CountryCH
Data as of2026-01-10
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 Alcon Inc.'s moat claims, evidence, and risks.

View ALC analysis

Comparison highlights

  • Moat score: both at 71 / 100.
  • Segment focus: Automatic Data Processing, Inc. has 2 segments (67.5% in Employer Services); Alcon Inc. has 2 segments (56% in Surgical).
  • Moat breadth: Automatic Data Processing, Inc. has 7 moat types across 4 domains; Alcon Inc. has 7 across 3.

Primary market context

Automatic Data Processing, Inc.

Employer Services

Market

Payroll processing and cloud HCM (HR, time, talent, tax, benefits) software and outsourcing

Geography

Global

Customer

Businesses (SMB to large enterprise)

Role

SaaS and managed services provider

Revenue share

67.5%

Alcon Inc.

Surgical

Market

Ophthalmic surgical devices (implantables, consumables, equipment) and related service/training

Geography

Global

Customer

Ophthalmic surgeons, hospitals, ambulatory surgery centers, group purchasing organizations

Role

Medical device OEM with direct service, clinical support, and training

Revenue share

56%

Side-by-side metrics

Automatic Data Processing, Inc.
Alcon Inc.
Ticker / Exchange
ADP - NASDAQ
ALC - New York Stock Exchange
Market cap (USD)
$107.6B
$39.8B
Gross margin (TTM)
49.3%
n/a
Operating margin (TTM)
19.2%
n/a
Net margin (TTM)
19.8%
n/a
Sector
Technology
Healthcare
Industry
Staffing & Employment Services
n/a
HQ country
US
CH
Primary segment
Employer Services
Surgical
Market structure
Oligopoly
Oligopoly
Market share
16.7% (reported)
40%-46% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
71 / 100
Moat domains
Demand, Legal, Supply, Financial
Demand, Supply, Legal
Last update
2025-12-30
2026-01-10

Moat coverage

Shared moat types

Compliance AdvantageSuite Bundling

Automatic Data Processing, Inc. strengths

Switching Costs GeneralScale Economies Unit CostFloat PrepaymentRegulated Standards PipeUnderwriting Risk Pooling

Alcon Inc. strengths

Installed Base ConsumablesService Field NetworkBrand TrustProcurement InertiaCapex Knowhow Scale

Segment mix

Automatic Data Processing, Inc. segments

Full profile >

Employer Services

Oligopoly

67.5%

Professional Employer Organization (PEO) Services

Competitive

32.5%

Alcon Inc. segments

Full profile >

Surgical

Oligopoly

56%

Vision Care

Oligopoly

44%

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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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.