VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Alimentation Couche-Tard Inc. vs Tyler Technologies, Inc.

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

Alimentation Couche-Tard Inc.

ATD · Toronto Stock Exchange

Market cap (USD)$70.7B
Gross margin (TTM)18.5%
Operating margin (TTM)5.3%
Net margin (TTM)3.6%
SectorConsumer
IndustrySpecialty Retail
CountryCA
Data as of2026-01-05
Moat score
58/ 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 Alimentation Couche-Tard Inc.'s moat claims, evidence, and risks.

View ATD analysis

Tyler Technologies, Inc.

TYL · New York Stock Exchange

Market cap (USD)$19B
Gross margin (TTM)44.2%
Operating margin (TTM)15.4%
Net margin (TTM)13.7%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2025-12-26
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 Tyler Technologies, Inc.'s moat claims, evidence, and risks.

View TYL analysis

Comparison highlights

  • Moat score gap: Tyler Technologies, Inc. leads (66 / 100 vs 58 / 100 for Alimentation Couche-Tard Inc.).
  • Segment focus: Alimentation Couche-Tard Inc. has 3 segments (74% in Road transportation fuel (retail fuel and related mobility services)); Tyler Technologies, Inc. has 2 segments (70.7% in Enterprise Software).
  • Primary market structure: Competitive vs Competitive. Pricing power: Weak vs Moderate.
  • Moat breadth: Alimentation Couche-Tard Inc. has 5 moat types across 2 domains; Tyler Technologies, Inc. has 7 across 2.

Primary market context

Alimentation Couche-Tard Inc.

Road transportation fuel (retail fuel and related mobility services)

Market

Road transportation fuel retail (gasoline/diesel) at convenience sites; includes unmanned/automated fuel stations

Geography

North America and Europe (plus select other regions via the network)

Customer

Consumers and small fleets

Role

Fuel retailer and site operator

Revenue share

74%

Tyler Technologies, Inc.

Enterprise Software

Market

Public sector enterprise application software for mission-critical back-office functions (ERP/public administration, courts & justice, public safety, education, property & recording)

Geography

Primarily United States; also Canada and other international locations

Customer

Government agencies and other public entities (state/local/federal), school districts

Role

Vertical software vendor + implementation/services

Revenue share

70.7%

Side-by-side metrics

Alimentation Couche-Tard Inc.
Tyler Technologies, Inc.
Ticker / Exchange
ATD - Toronto Stock Exchange
TYL - New York Stock Exchange
Market cap (USD)
$70.7B
$19B
Gross margin (TTM)
18.5%
44.2%
Operating margin (TTM)
5.3%
15.4%
Net margin (TTM)
3.6%
13.7%
Sector
Consumer
Technology
Industry
Specialty Retail
Software - Application
HQ country
CA
US
Primary segment
Road transportation fuel (retail fuel and related mobility services)
Enterprise Software
Market structure
Competitive
Competitive
Market share
n/a
5%-7% (reported)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
58 / 100
66 / 100
Moat domains
Supply, Demand
Demand, Supply
Last update
2026-01-05
2025-12-26

Moat coverage

Shared moat types

Brand Trust

Alimentation Couche-Tard Inc. strengths

Physical Network DensityOperational ExcellenceSupply Chain ControlScope Economies

Tyler Technologies, Inc. strengths

Training Org Change CostsProcurement InertiaSuite BundlingLong Term ContractsData Workflow LockinScale Economies Unit Cost

Segment mix

Alimentation Couche-Tard Inc. segments

Full profile >

Merchandise and services (in-store convenience retail)

Competitive

25.2%

Road transportation fuel (retail fuel and related mobility services)

Competitive

74%

Other revenues (ancillary energy and other income streams)

Competitive

0.8%

Tyler Technologies, Inc. segments

Full profile >

Enterprise Software

Competitive

70.7%

Platform Technologies

Competitive

29%

Want the full wide moat stocks list?

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

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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.