VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Compagnie Financiere Richemont SA vs Paychex, Inc.

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

Compagnie Financiere Richemont SA

CFR · SIX Swiss Exchange

Market cap (USD)$100B
Gross margin (TTM)66.8%
Operating margin (TTM)21.3%
Net margin (TTM)14.8%
SectorConsumer
IndustryLuxury Goods
CountryCH
Data as of2025-12-30
Moat score
84/ 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 Compagnie Financiere Richemont SA's moat claims, evidence, and risks.

View CFR 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: Compagnie Financiere Richemont SA leads (84 / 100 vs 66 / 100 for Paychex, Inc.).
  • Segment focus: Compagnie Financiere Richemont SA has 3 segments (71.6% in Jewellery Maisons); Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Compagnie Financiere Richemont SA has 4 moat types across 2 domains; Paychex, Inc. has 7 across 4.

Primary market context

Compagnie Financiere Richemont SA

Jewellery Maisons

Market

Luxury jewellery (branded fine jewellery & high jewellery)

Geography

Global

Customer

Affluent and high-net-worth consumers

Role

Brand owner, manufacturer and direct-to-client retailer

Revenue share

71.6%

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

Compagnie Financiere Richemont SA
Paychex, Inc.
Ticker / Exchange
CFR - SIX Swiss Exchange
PAYX - NASDAQ Global Select Market
Market cap (USD)
$100B
$39.4B
Gross margin (TTM)
66.8%
73.4%
Operating margin (TTM)
21.3%
37.1%
Net margin (TTM)
14.8%
26.5%
Sector
Consumer
Industrials
Industry
Luxury Goods
Staffing & Employment Services
HQ country
CH
US
Primary segment
Jewellery Maisons
Management Solutions
Market structure
Oligopoly
Oligopoly
Market share
30%-55% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
84 / 100
66 / 100
Moat domains
Demand, Supply
Demand, Supply, Legal, Financial
Last update
2025-12-30
2026-01-04

Moat coverage

Shared moat types

No overlap yet.

Compagnie Financiere Richemont SA strengths

Brand TrustDistribution ControlCapex Knowhow ScaleReputation Reviews

Paychex, Inc. strengths

Data Workflow LockinSuite BundlingService Field NetworkCompliance AdvantageUnderwriting Risk PoolingSwitching Costs GeneralFloat Prepayment

Segment mix

Compagnie Financiere Richemont SA segments

Full profile >

Jewellery Maisons

Oligopoly

71.6%

Specialist Watchmakers

Oligopoly

15.3%

Other (Fashion & Accessories, Watchfinder, ancillary)

Competitive

13%

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?

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

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.