VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Automatic Data Processing, Inc. vs Applied Materials, 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)$105B
SectorTechnology
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

Applied Materials, Inc.

AMAT · The Nasdaq Stock Market LLC

Market cap (USD)$203.3B
SectorTechnology
CountryUS
Data as of2025-12-22
Moat score
76/ 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 Applied Materials, Inc.'s moat claims, evidence, and risks.

View AMAT analysis

Comparison highlights

  • Moat score gap: Applied Materials, Inc. leads (76 / 100 vs 71 / 100 for Automatic Data Processing, Inc.).
  • Segment focus: Automatic Data Processing, Inc. has 2 segments (67.5% in Employer Services); Applied Materials, Inc. has 2 segments (73.3% in Semiconductor Systems).
  • Moat breadth: Automatic Data Processing, Inc. has 7 moat types across 4 domains; Applied Materials, 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%

Applied Materials, Inc.

Semiconductor Systems

Market

Wafer fabrication equipment (WFE) and adjacent front-end process equipment (deposition, etch, CMP, metrology/inspection) plus advanced packaging tools

Geography

Global

Customer

Semiconductor manufacturers (foundry, logic, memory) and advanced packaging providers

Role

OEM equipment supplier

Revenue share

73.3%

Side-by-side metrics

Automatic Data Processing, Inc.
Applied Materials, Inc.
Ticker / Exchange
ADP - NASDAQ
AMAT - The Nasdaq Stock Market LLC
Market cap (USD)
$105B
$203.3B
Sector
Technology
Technology
HQ country
US
US
Primary segment
Employer Services
Semiconductor Systems
Market structure
Oligopoly
Oligopoly
Market share
16.7% (reported)
16%-20% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
76 / 100
Moat domains
Demand, Legal, Supply, Financial
Supply, Demand, Legal
Last update
2025-12-30
2025-12-22

Moat coverage

Shared moat types

No overlap yet.

Automatic Data Processing, Inc. strengths

Switching Costs GeneralCompliance AdvantageScale Economies Unit CostFloat PrepaymentRegulated Standards PipeSuite BundlingUnderwriting Risk Pooling

Applied Materials, Inc. strengths

Scope EconomiesCapex Knowhow ScaleDesign In QualificationIP Choke PointInstalled Base ConsumablesService Field NetworkLong Term Contracts

Segment mix

Automatic Data Processing, Inc. segments

Full profile >

Employer Services

Oligopoly

67.5%

Professional Employer Organization (PEO) Services

Competitive

32.5%

Applied Materials, Inc. segments

Full profile >

Semiconductor Systems

Oligopoly

73.3%

Applied Global Services (AGS)

Competitive

22.5%

Want the full wide moat stocks list?

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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.