VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Wednesday, January 14, 2026

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Stock Comparison

Adyen N.V. vs Blackstone 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

Blackstone Inc.

BX · New York Stock Exchange

Market cap (USD)—

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorFinancials

Industry—

CountryUS

Data as of2026-01-12

Moat score

61/ 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 Blackstone Inc.'s moat claims, evidence, and risks.

View BX analysis

Comparison highlights

Moat score gap: Adyen N.V. leads (63 / 100 vs 61 / 100 for Blackstone Inc.).
Segment focus: Adyen N.V. has 3 segments (58.4% in Digital); Blackstone Inc. has 4 segments.
Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs n/a.
Moat breadth: Adyen N.V. has 6 moat types across 4 domains; Blackstone Inc. has 8 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%

Blackstone Inc.

Real Estate

Market

Private real estate investment management (opportunistic, core/core+, real estate debt, and perpetual/private-wealth real estate vehicles)

Geography

Global

Customer

Institutional investors and individual investors (via private wealth channels)

Role

Alternative asset manager / GP / investment adviser

Side-by-side metrics

Adyen N.V.

Blackstone Inc.

Ticker / Exchange

ADYEN - Euronext Amsterdam

BX - New York Stock Exchange

Market cap (USD)

$45.7B

n/a

Gross margin (TTM)

80.8%

n/a

Operating margin (TTM)

40%

n/a

Net margin (TTM)

35.1%

n/a

Sector

Financials

Industry

Software - Infrastructure

n/a

HQ country

Primary segment

Digital

Real Estate

Market structure

Oligopoly

Market share

n/a

HHI estimate

n/a

Pricing power

Moderate

n/a

Moat score

63 / 100

61 / 100

Moat domains

Network, Demand, Legal, Supply

Supply, Demand

Last update

2025-12-28

2026-01-12

Moat coverage

Shared moat types

Suite BundlingOperational Excellence

Adyen N.V. strengths

Data Network EffectsData Workflow LockinCompliance AdvantageSwitching Costs General

Blackstone Inc. strengths

Scale Economies Unit CostLong Term ContractsBrand TrustDistribution ControlScope EconomiesPreferential Input Access

Segment mix

Adyen N.V. segments

Full profile >

Digital

Oligopoly

58.4%

Unified Commerce

Competitive

30.6%

Platforms

Oligopoly

11%

Blackstone Inc. segments

Full profile >

Real Estate

Oligopoly

n/a

Private Equity

Oligopoly

n/a

Credit & Insurance

Oligopoly

n/a

Multi-Asset Investing

Oligopoly

n/a

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

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.