VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Deere & Company vs Paychex, Inc.

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

Deere & Company

DE · New York Stock Exchange

Market cap (USD)$126.1B
Gross margin (TTM)36.5%
Operating margin (TTM)18.8%
Net margin (TTM)11.3%
SectorIndustrials
IndustryAgricultural - Machinery
CountryUS
Data as of2025-12-29
Moat score
63/ 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 Deere & Company's moat claims, evidence, and risks.

View DE 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: Paychex, Inc. leads (66 / 100 vs 63 / 100 for Deere & Company).
  • Segment focus: Deere & Company has 4 segments (38.4% in Production & Precision Agriculture); Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Moat breadth: Deere & Company has 5 moat types across 3 domains; Paychex, Inc. has 7 across 4.

Primary market context

Deere & Company

Production & Precision Agriculture

Market

Large-scale agricultural equipment and integrated precision agriculture technology

Geography

Global

Customer

Production-scale growers; dealer/retail channels

Role

OEM + precision ag platform provider

Revenue share

38.4%

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

Deere & Company
Paychex, Inc.
Ticker / Exchange
DE - New York Stock Exchange
PAYX - NASDAQ Global Select Market
Market cap (USD)
$126.1B
$39.4B
Gross margin (TTM)
36.5%
73.4%
Operating margin (TTM)
18.8%
37.1%
Net margin (TTM)
11.3%
26.5%
Sector
Industrials
Industrials
Industry
Agricultural - Machinery
Staffing & Employment Services
HQ country
US
US
Primary segment
Production & Precision Agriculture
Management Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
66 / 100
Moat domains
Demand, Supply, Financial
Demand, Supply, Legal, Financial
Last update
2025-12-29
2026-01-04

Moat coverage

Shared moat types

Data Workflow LockinService Field NetworkSuite Bundling

Deere & Company strengths

Brand TrustCost Of Capital Advantage

Paychex, Inc. strengths

Compliance AdvantageUnderwriting Risk PoolingSwitching Costs GeneralFloat Prepayment

Segment mix

Deere & Company segments

Full profile >

Production & Precision Agriculture

Oligopoly

38.4%

Small Agriculture & Turf

Competitive

22.8%

Construction & Forestry

Oligopoly

25.4%

Financial Services

Competitive

12.7%

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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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.