VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 9, 2026

Stock Comparison

BE Semiconductor Industries N.V. vs Paychex, Inc.

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

BE Semiconductor Industries N.V.

BESI · Euronext Amsterdam

Market cap (USD)$12.6B
Gross margin (TTM)61.7%
Operating margin (TTM)29%
Net margin (TTM)25.6%
SectorTechnology
IndustrySemiconductors
CountryNL
Data as of2025-12-28
Moat score
75/ 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 BE Semiconductor Industries N.V.'s moat claims, evidence, and risks.

View BESI 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: BE Semiconductor Industries N.V. leads (75 / 100 vs 66 / 100 for Paychex, Inc.).
  • Segment focus: BE Semiconductor Industries N.V. has 2 segments (81% in Die Attach (incl. advanced die placement & hybrid bonding)); Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: BE Semiconductor Industries N.V. has 5 moat types across 2 domains; Paychex, Inc. has 7 across 4.

Primary market context

BE Semiconductor Industries N.V.

Die Attach (incl. advanced die placement & hybrid bonding)

Market

Semiconductor assembly equipment - die attach & advanced die placement/hybrid bonding systems

Geography

Global

Customer

Semiconductor IDMs, foundries, and OSATs

Role

Capital equipment OEM (back-end/advanced packaging)

Revenue share

81%

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

BE Semiconductor Industries N.V.
Paychex, Inc.
Ticker / Exchange
BESI - Euronext Amsterdam
PAYX - NASDAQ Global Select Market
Market cap (USD)
$12.6B
$39.4B
Gross margin (TTM)
61.7%
73.4%
Operating margin (TTM)
29%
37.1%
Net margin (TTM)
25.6%
26.5%
Sector
Technology
Industrials
Industry
Semiconductors
Staffing & Employment Services
HQ country
NL
US
Primary segment
Die Attach (incl. advanced die placement & hybrid bonding)
Management Solutions
Market structure
Oligopoly
Oligopoly
Market share
42%-44% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
75 / 100
66 / 100
Moat domains
Supply, Demand
Demand, Supply, Legal, Financial
Last update
2025-12-28
2026-01-04

Moat coverage

Shared moat types

Switching Costs GeneralService Field Network

BE Semiconductor Industries N.V. strengths

Capex Knowhow ScaleDesign In QualificationInstalled Base Consumables

Paychex, Inc. strengths

Data Workflow LockinSuite BundlingCompliance AdvantageUnderwriting Risk PoolingFloat Prepayment

Segment mix

BE Semiconductor Industries N.V. segments

Full profile >

Die Attach (incl. advanced die placement & hybrid bonding)

Oligopoly

81%

Packaging & Plating

Competitive

19%

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.