VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Adyen N.V. vs Teqnion AB (publ)

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

Teqnion AB (publ)

TEQ · Nasdaq First North Growth Market Sweden

Market cap (USD)$3.1B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
IndustryIndustrial - Distribution
CountrySE
Data as of2026-01-08
Moat score
47/ 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 Teqnion AB (publ)'s moat claims, evidence, and risks.

View TEQ analysis

Comparison highlights

  • Moat score gap: Adyen N.V. leads (63 / 100 vs 47 / 100 for Teqnion AB (publ)).
  • Segment focus: Adyen N.V. has 3 segments (58.4% in Digital); Teqnion AB (publ) has 4 segments.
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs n/a.
  • Moat breadth: Adyen N.V. has 6 moat types across 4 domains; Teqnion AB (publ) 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%

Teqnion AB (publ)

Acquisition & Portfolio Platform (Active, long-term ownership)

Market

Acquisition and long-term ownership of profitable niche industrial SMEs

Geography

Nordics, UK, Ireland

Customer

Business owners / sellers; subsidiary management teams

Role

Acquirer / holding company / active owner

Side-by-side metrics

Adyen N.V.
Teqnion AB (publ)
Ticker / Exchange
ADYEN - Euronext Amsterdam
TEQ - Nasdaq First North Growth Market Sweden
Market cap (USD)
$45.7B
$3.1B
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
Industrial - Distribution
HQ country
NL
SE
Primary segment
Digital
Acquisition & Portfolio Platform (Active, long-term ownership)
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
n/a
Moat score
63 / 100
47 / 100
Moat domains
Network, Demand, Legal, Supply
Supply, Demand
Last update
2025-12-28
2026-01-08

Moat coverage

Shared moat types

Operational ExcellenceSwitching Costs General

Adyen N.V. strengths

Data Network EffectsData Workflow LockinCompliance AdvantageSuite Bundling

Teqnion AB (publ) strengths

Preferential Input AccessScope EconomiesDistribution ControlProcurement InertiaDesign In QualificationLearning Curve Yield

Segment mix

Adyen N.V. segments

Full profile >

Digital

Oligopoly

58.4%

Unified Commerce

Competitive

30.6%

Platforms

Oligopoly

11%

Teqnion AB (publ) segments

Full profile >

Acquisition & Portfolio Platform (Active, long-term ownership)

Competitive

n/a

Agency & Distribution Businesses

Competitive

n/a

Niche Product & Service Companies

Competitive

n/a

Manufacturing (Own-brand and Contract/OEM)

Competitive

n/a

Want the full wide moat stocks list?

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Looking for expansion-stage stocks?

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.