VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Tuesday, January 6, 2026

Stock Comparison

Dassault Aviation vs Paychex, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Dassault Aviation

AM · Euronext Paris

Market cap (USD)$22.9B
Gross margin (TTM)40.4%
Operating margin (TTM)7.9%
Net margin (TTM)13.6%
SectorIndustrials
IndustryAerospace & Defense
CountryFR
Data as of2025-12-28
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 Dassault Aviation's moat claims, evidence, and risks.

View AM analysis

Paychex, Inc.

PAYX · NASDAQ Global Select Market

Market cap (USD)$39.4B
Gross margin (TTM)73.4%
Operating margin (TTM)37.1%
Net margin (TTM)26.5%
SectorIndustrials
IndustryStaffing & Employment Services
CountryUS
Data as of2026-01-04
Moat score
66/ 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 Paychex, Inc.'s moat claims, evidence, and risks.

View PAYX analysis

Comparison highlights

  • Moat score gap: Dassault Aviation leads (79 / 100 vs 66 / 100 for Paychex, Inc.).
  • Segment focus: Dassault Aviation has 2 segments (63.5% in Defence (Military Aircraft & Support)); Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Moat breadth: Dassault Aviation has 6 moat types across 4 domains; Paychex, Inc. has 7 across 4.

Primary market context

Dassault Aviation

Defence (Military Aircraft & Support)

Market

Multi-role fighter aircraft and military aircraft lifecycle support (Rafale and legacy platforms)

Geography

France + Export

Customer

National governments / defense ministries

Role

Prime contractor (OEM) + lifecycle support

Revenue share

63.5%

Paychex, Inc.

Management Solutions

Market

Payroll processing and integrated HCM solutions for SMB and mid-market employers

Geography

United States (primarily)

Customer

Employers (SMB and mid-market)

Role

HCM SaaS + outsourced payroll/HR service provider

Revenue share

73%

Side-by-side metrics

Dassault Aviation
Paychex, Inc.
Ticker / Exchange
AM - Euronext Paris
PAYX - NASDAQ Global Select Market
Market cap (USD)
$22.9B
$39.4B
Gross margin (TTM)
40.4%
73.4%
Operating margin (TTM)
7.9%
37.1%
Net margin (TTM)
13.6%
26.5%
Sector
Industrials
Industrials
Industry
Aerospace & Defense
Staffing & Employment Services
HQ country
FR
US
Primary segment
Defence (Military Aircraft & Support)
Management Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
79 / 100
66 / 100
Moat domains
Legal, Demand, Supply, Financial
Demand, Supply, Legal, Financial
Last update
2025-12-28
2026-01-04

Moat coverage

Shared moat types

Service Field NetworkFloat Prepayment

Dassault Aviation strengths

Government Contracting RelationshipsLong Term ContractsRegulated Standards PipeReputation Reviews

Paychex, Inc. strengths

Data Workflow LockinSuite BundlingCompliance AdvantageUnderwriting Risk PoolingSwitching Costs General

Segment mix

Dassault Aviation segments

Full profile >

Defence (Military Aircraft & Support)

Oligopoly

63.5%

Falcon (Business Jets & Support)

Oligopoly

36.5%

Paychex, Inc. segments

Full profile >

Management Solutions

Oligopoly

73%

PEO and Insurance Solutions

Competitive

24.1%

Client funds float (interest on funds held for clients)

Oligopoly

2.9%

Want the full wide moat stocks list?

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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.