VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Adyen N.V. vs American Water Works Company, Inc.

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

American Water Works Company, Inc.

AWK · New York Stock Exchange

Market cap (USD)$25B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorUtilities
Industry
CountryUS
Data as of2026-01-09
Moat score
79/ 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 American Water Works Company, Inc.'s moat claims, evidence, and risks.

View AWK analysis

Comparison highlights

  • Moat score gap: American Water Works Company, Inc. leads (79 / 100 vs 63 / 100 for Adyen N.V.).
  • Segment focus: Adyen N.V. has 3 segments (58.4% in Digital); American Water Works Company, Inc. has 2 segments (91.7% in Regulated Businesses).
  • Primary market structure: Oligopoly vs Monopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Adyen N.V. has 6 moat types across 4 domains; American Water Works Company, Inc. has 8 across 3.

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%

American Water Works Company, Inc.

Regulated Businesses

Market

Regulated water and wastewater utility service in certificated/franchised territories

Geography

United States (14-state footprint)

Customer

Residential, commercial, industrial, public authority, fire service, and sale-for-resale customers

Role

Regulated utility owner/operator (water & wastewater)

Revenue share

91.7%

Side-by-side metrics

Adyen N.V.
American Water Works Company, Inc.
Ticker / Exchange
ADYEN - Euronext Amsterdam
AWK - New York Stock Exchange
Market cap (USD)
$45.7B
$25B
Gross margin (TTM)
80.8%
n/a
Operating margin (TTM)
40%
n/a
Net margin (TTM)
35.1%
n/a
Sector
Financials
Utilities
Industry
Software - Infrastructure
n/a
HQ country
NL
US
Primary segment
Digital
Regulated Businesses
Market structure
Oligopoly
Monopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
79 / 100
Moat domains
Network, Demand, Legal, Supply
Legal, Supply, Demand
Last update
2025-12-28
2026-01-09

Moat coverage

Shared moat types

Compliance AdvantageOperational Excellence

Adyen N.V. strengths

Data Network EffectsData Workflow LockinSuite BundlingSwitching Costs General

American Water Works Company, Inc. strengths

Concession LicensePhysical Network DensityPermits Rights Of WayScale Economies Unit CostLong Term ContractsGovernment Contracting Relationships

Segment mix

Adyen N.V. segments

Full profile >

Digital

Oligopoly

58.4%

Unified Commerce

Competitive

30.6%

Platforms

Oligopoly

11%

American Water Works Company, Inc. segments

Full profile >

Regulated Businesses

Monopoly

91.7%

Military and Contract Water Services (Other)

Duopoly

8.3%

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.