VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Adyen N.V. vs Arthur J. Gallagher & Co.

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

Adyen N.V.

ADYEN · Euronext Amsterdam

Market cap (USD)$45.7B
Gross margin (TTM)80.8%
Operating margin (TTM)40%
Net margin (TTM)35.1%
SectorFinancials
IndustrySoftware - Infrastructure
CountryNL
Data as of2025-12-28
Moat score
63/ 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 Adyen N.V.'s moat claims, evidence, and risks.

View ADYEN analysis

Arthur J. Gallagher & Co.

AJG · New York Stock Exchange

Market cap (USD)$67.9B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
IndustryInsurance - Brokers
CountryUS
Data as of2026-01-09
Moat score
69/ 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 Arthur J. Gallagher & Co.'s moat claims, evidence, and risks.

View AJG analysis

Comparison highlights

  • Moat score gap: Arthur J. Gallagher & Co. leads (69 / 100 vs 63 / 100 for Adyen N.V.).
  • Segment focus: Adyen N.V. has 3 segments (58.4% in Digital); Arthur J. Gallagher & Co. has 2 segments (86% in Brokerage).
  • Moat breadth: Adyen N.V. has 6 moat types across 4 domains; Arthur J. Gallagher & Co. has 4 across 2.

Primary market context

Adyen N.V.

Digital

Market

Enterprise payment processing and acquiring for online/digital commerce

Geography

Global

Customer

Enterprise merchants and digital-native businesses

Role

PSP / gateway + processor + (direct or indirect) acquiring enablement

Revenue share

58.4%

Arthur J. Gallagher & Co.

Brokerage

Market

Insurance and reinsurance brokerage and consulting

Geography

Global

Customer

Commercial, industrial, public sector, nonprofit and other organizations; underwriting enterprises for reinsurance placements

Role

Intermediary / broker / advisor

Revenue share

86%

Side-by-side metrics

Adyen N.V.
Arthur J. Gallagher & Co.
Ticker / Exchange
ADYEN - Euronext Amsterdam
AJG - New York Stock Exchange
Market cap (USD)
$45.7B
$67.9B
Gross margin (TTM)
80.8%
n/a
Operating margin (TTM)
40%
n/a
Net margin (TTM)
35.1%
n/a
Sector
Financials
Financials
Industry
Software - Infrastructure
Insurance - Brokers
HQ country
NL
US
Primary segment
Digital
Brokerage
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
69 / 100
Moat domains
Network, Demand, Legal, Supply
Supply, Demand
Last update
2025-12-28
2026-01-09

Moat coverage

Shared moat types

Data Workflow LockinOperational Excellence

Adyen N.V. strengths

Data Network EffectsCompliance AdvantageSuite BundlingSwitching Costs General

Arthur J. Gallagher & Co. strengths

Service Field NetworkBrand Trust

Segment mix

Adyen N.V. segments

Full profile >

Digital

Oligopoly

58.4%

Unified Commerce

Competitive

30.6%

Platforms

Oligopoly

11%

Arthur J. Gallagher & Co. segments

Full profile >

Brokerage

Oligopoly

86%

Risk Management

Competitive

14%

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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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.