VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Adyen N.V. vs Lotus Bakeries NV

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)$44.7B
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

Lotus Bakeries NV

LOTB · Euronext Brussels

Market cap (USD)$6.9B
Gross margin (TTM)28.7%
Operating margin (TTM)16.5%
Net margin (TTM)12.3%
SectorConsumer
IndustryPackaged Foods
CountryBE
Data as of2026-01-06
Moat score
64/ 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 Lotus Bakeries NV's moat claims, evidence, and risks.

View LOTB analysis

Comparison highlights

  • Moat score gap: Lotus Bakeries NV leads (64 / 100 vs 63 / 100 for Adyen N.V.).
  • Segment focus: Adyen N.V. has 3 segments (58.4% in Digital); Lotus Bakeries NV has 3 segments (56% in Lotus Biscoff).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Adyen N.V. has 6 moat types across 4 domains; Lotus Bakeries NV has 5 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%

Lotus Bakeries NV

Lotus Biscoff

Market

Branded caramelised biscuits (speculoos) and Biscoff spread

Geography

Global

Customer

Consumers via retail and away-from-home channels

Role

Brand owner and manufacturer

Revenue share

56%

Side-by-side metrics

Adyen N.V.
Lotus Bakeries NV
Ticker / Exchange
ADYEN - Euronext Amsterdam
LOTB - Euronext Brussels
Market cap (USD)
$44.7B
$6.9B
Gross margin (TTM)
80.8%
28.7%
Operating margin (TTM)
40%
16.5%
Net margin (TTM)
35.1%
12.3%
Sector
Financials
Consumer
Industry
Software - Infrastructure
Packaged Foods
HQ country
NL
BE
Primary segment
Digital
Lotus Biscoff
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
63 / 100
64 / 100
Moat domains
Network, Demand, Legal, Supply
Demand, Supply
Last update
2025-12-28
2026-01-06

Moat coverage

Shared moat types

No overlap yet.

Adyen N.V. strengths

Data Network EffectsData Workflow LockinCompliance AdvantageSuite BundlingOperational ExcellenceSwitching Costs General

Lotus Bakeries NV strengths

Brand TrustHabit DefaultCapacity MoatCapex Knowhow ScaleDistribution Control

Segment mix

Adyen N.V. segments

Full profile >

Digital

Oligopoly

58.4%

Unified Commerce

Competitive

30.6%

Platforms

Oligopoly

11%

Lotus Bakeries NV segments

Full profile >

Lotus Biscoff

Oligopoly

56%

Lotus Natural Foods

Competitive

24%

Lotus Local Heroes

Competitive

20%

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.