VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

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Stock Comparison

Constellation Software Inc. vs Global Payments Inc.

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

Constellation Software Inc.

CSU · Toronto Stock Exchange

Market cap (USD)$70.5B

Gross margin (TTM)50.8%

Operating margin (TTM)10%

Net margin (TTM)6.2%

SectorTechnology

IndustrySoftware - Application

CountryCA

Data as of2026-01-02

Moat score

74/ 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 Constellation Software Inc.'s moat claims, evidence, and risks.

View CSU analysis

Global Payments Inc.

GPN · New York Stock Exchange

Market cap (USD)$18.8B

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorFinancials

Industry—

CountryUS

Data as of2026-01-10

Moat score

62/ 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 Global Payments Inc.'s moat claims, evidence, and risks.

View GPN analysis

Comparison highlights

Moat score gap: Constellation Software Inc. leads (74 / 100 vs 62 / 100 for Global Payments Inc.).
Segment focus: Constellation Software Inc. has 6 segments; Global Payments Inc. has 2 segments (76.1% in Merchant Solutions).
Moat breadth: Constellation Software Inc. has 3 moat types across 2 domains; Global Payments Inc. has 6 across 4.

Primary market context

Constellation Software Inc.

Volaris Operating Group

Market

Vertical market software (VMS) portfolios across diverse industries (Volaris)

Geography

Global (North America, Continental Europe, UK, Australia, South America, Africa)

Customer

Organizations in specific verticals (mix of public and private sector)

Role

Vertical market software vendor (application provider + long-term maintainer)

Global Payments Inc.

Merchant Solutions

Market

Merchant acquiring and integrated payments (card-present and e-commerce)

Geography

Global

Customer

Merchants (SMB to enterprise) and software platforms

Role

Acquirer and payment processor

Revenue share

76.1%

Side-by-side metrics

Constellation Software Inc.

Global Payments Inc.

Ticker / Exchange

CSU - Toronto Stock Exchange

GPN - New York Stock Exchange

Market cap (USD)

$70.5B

$18.8B

Gross margin (TTM)

50.8%

n/a

Operating margin (TTM)

10%

n/a

Net margin (TTM)

6.2%

n/a

Sector

Technology

Financials

Industry

Software - Application

n/a

HQ country

Primary segment

Volaris Operating Group

Merchant Solutions

Market structure

Competitive

Market share

n/a

HHI estimate

n/a

Pricing power

Moderate

Moat score

74 / 100

62 / 100

Moat domains

Demand, Supply

Network, Demand, Supply, Legal

Last update

2026-01-02

2026-01-10

Moat coverage

Shared moat types

Switching Costs General

Constellation Software Inc. strengths

Installed Base ConsumablesOperational Excellence

Global Payments Inc. strengths

Ecosystem ComplementsData Workflow LockinScale Economies Unit CostLong Term ContractsCompliance Advantage

Segment mix

Constellation Software Inc. segments

Full profile >

Volaris Operating Group

Competitive

n/a

Harris Operating Group

Competitive

n/a

Topicus.com Operating Group

Competitive

n/a

Jonas Operating Group

Competitive

n/a

Perseus Operating Group

Competitive

n/a

Vela Operating Group

Competitive

n/a

Global Payments Inc. segments

Full profile >

Merchant Solutions

Competitive

76.1%

Issuer Solutions

Oligopoly

24.6%

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.

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.