VOL. XCIV, NO. 247

* WIDE MOAT STOCKS COMPARISON *

NO ADVICE

Monday, December 29, 2025

Stock Comparison

Adyen N.V. vs Spirax Group plc

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)
SectorFinancials
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

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$6.7B
SectorIndustrials
CountryGB
Data as of2025-12-28
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 Spirax Group plc's moat claims, evidence, and risks.

View SPX analysis

Comparison highlights

  • Moat score gap: Spirax Group plc leads (71 / 100 vs 63 / 100 for Adyen N.V.).
  • Segment focus: Adyen N.V. has 3 segments (58.4% in Digital); Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions).
  • Moat breadth: Adyen N.V. has 6 moat types across 4 domains; Spirax Group plc has 6 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%

Spirax Group plc

Steam Thermal Solutions

Market

Industrial and commercial steam systems (condensate management, controls, thermal energy management products and solutions)

Geography

Global

Customer

Industrial process operators and commercial facility operators

Role

OEM / solutions provider

Revenue share

52.1%

Side-by-side metrics

Adyen N.V.
Spirax Group plc
Ticker / Exchange
ADYEN - Euronext Amsterdam
SPX - London Stock Exchange
Market cap (USD)
n/a
$6.7B
Sector
Financials
Industrials
HQ country
NL
GB
Primary segment
Digital
Steam Thermal Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
71 / 100
Moat domains
Network, Demand, Legal, Supply
Supply, Demand
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

Suite Bundling

Adyen N.V. strengths

Data Network EffectsData Workflow LockinCompliance AdvantageOperational ExcellenceSwitching Costs General

Spirax Group plc strengths

Service Field NetworkInstalled Base ConsumablesBrand TrustCapex Knowhow ScaleDesign In Qualification

Segment mix

Adyen N.V. segments

Full profile >

Digital

Oligopoly

58.4%

Unified Commerce

Competitive

30.6%

Platforms

Oligopoly

11%

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

52.1%

Electric Thermal Solutions

Competitive

24.3%

Watson-Marlow Fluid Technology Solutions

Oligopoly

23.6%

Want the full wide moat stocks list?

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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.