VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Automatic Data Processing, Inc. vs Casey's General Stores, 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)$104.1B
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

Casey's General Stores, Inc.

CASY · NASDAQ

Market cap (USD)$21B
Gross margin (TTM)23.4%
Operating margin (TTM)5.3%
Net margin (TTM)3.6%
SectorConsumer
IndustrySpecialty Retail
CountryUS
Data as of2026-01-06
Moat score
54/ 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 Casey's General Stores, Inc.'s moat claims, evidence, and risks.

View CASY analysis

Comparison highlights

  • Moat score gap: Automatic Data Processing, Inc. leads (71 / 100 vs 54 / 100 for Casey's General Stores, Inc.).
  • Segment focus: Automatic Data Processing, Inc. has 2 segments (67.5% in Employer Services); Casey's General Stores, Inc. has 4 segments (61.3% in Fuel).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Automatic Data Processing, Inc. has 7 moat types across 4 domains; Casey's General Stores, Inc. has 7 across 2.

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%

Casey's General Stores, Inc.

Fuel

Market

Retail motor fuel sold through convenience-store fuel sites (gasoline and diesel)

Geography

United States (Casey's operating footprint; Midwest/South)

Customer

Motorists / consumers (in-store and pay-at-the-pump transactions)

Role

Fuel retailer (with some self-distribution/wholesale capabilities)

Revenue share

61.3%

Side-by-side metrics

Automatic Data Processing, Inc.
Casey's General Stores, Inc.
Ticker / Exchange
ADP - NASDAQ
CASY - NASDAQ
Market cap (USD)
$104.1B
$21B
Gross margin (TTM)
49.3%
23.4%
Operating margin (TTM)
19.2%
5.3%
Net margin (TTM)
19.8%
3.6%
Sector
Technology
Consumer
Industry
Staffing & Employment Services
Specialty Retail
HQ country
US
US
Primary segment
Employer Services
Fuel
Market structure
Oligopoly
Competitive
Market share
16.7% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
71 / 100
54 / 100
Moat domains
Demand, Legal, Supply, Financial
Demand, Supply
Last update
2025-12-30
2026-01-06

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

Casey's General Stores, Inc. strengths

Brand TrustOperational ExcellencePhysical Network DensityDistribution ControlHabit DefaultSupply Chain ControlScope Economies

Segment mix

Automatic Data Processing, Inc. segments

Full profile >

Employer Services

Oligopoly

67.5%

Professional Employer Organization (PEO) Services

Competitive

32.5%

Casey's General Stores, Inc. segments

Full profile >

Prepared Food and Dispensed Beverage

Competitive

10.1%

Grocery and General Merchandise

Competitive

26%

Fuel

Competitive

61.3%

Other (wholesale fuel, car wash, lottery)

Competitive

2.6%

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.