VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Automatic Data Processing, Inc. vs Marsh & McLennan Companies, 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

Marsh & McLennan Companies, Inc.

MMC · New York Stock Exchange

Market cap (USD)
SectorFinancials
CountryUS
Data as of2025-12-31
Moat score
65/ 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 Marsh & McLennan Companies, Inc.'s moat claims, evidence, and risks.

View MMC analysis

Comparison highlights

  • Moat score gap: Automatic Data Processing, Inc. leads (71 / 100 vs 65 / 100 for Marsh & McLennan Companies, Inc.).
  • Segment focus: Automatic Data Processing, Inc. has 2 segments (67.5% in Employer Services); Marsh & McLennan Companies, Inc. has 2 segments (62.8% in Risk and Insurance Services).
  • Moat breadth: Automatic Data Processing, Inc. has 7 moat types across 4 domains; Marsh & McLennan Companies, Inc. has 5 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%

Marsh & McLennan Companies, Inc.

Risk and Insurance Services

Market

Insurance brokerage, risk advisory, and reinsurance brokerage/services

Geography

Global

Customer

Enterprises, public entities, associations, and individuals (via broker/agent channels)

Role

Intermediary + advisor (insurance/reinsurance market intermediary)

Revenue share

62.8%

Side-by-side metrics

Automatic Data Processing, Inc.
Marsh & McLennan Companies, Inc.
Ticker / Exchange
ADP - NASDAQ
MMC - New York Stock Exchange
Market cap (USD)
$105B
n/a
Sector
Technology
Financials
HQ country
US
US
Primary segment
Employer Services
Risk and Insurance Services
Market structure
Oligopoly
Oligopoly
Market share
16.7% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
65 / 100
Moat domains
Demand, Legal, Supply, Financial
Supply, Demand, Legal
Last update
2025-12-30
2025-12-31

Moat coverage

Shared moat types

Switching Costs GeneralCompliance Advantage

Automatic Data Processing, Inc. strengths

Scale Economies Unit CostFloat PrepaymentRegulated Standards PipeSuite BundlingUnderwriting Risk Pooling

Marsh & McLennan Companies, Inc. strengths

Service Field NetworkBrand TrustData Workflow Lockin

Segment mix

Automatic Data Processing, Inc. segments

Full profile >

Employer Services

Oligopoly

67.5%

Professional Employer Organization (PEO) Services

Competitive

32.5%

Marsh & McLennan Companies, Inc. segments

Full profile >

Risk and Insurance Services

Oligopoly

62.8%

Consulting

Competitive

37.2%

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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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.