VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Dassault Systemes SE vs Paychex, Inc.

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

Dassault Systemes SE

DSY · Euronext Paris

Market cap (USD)$30.8B
Gross margin (TTM)81%
Operating margin (TTM)21.4%
Net margin (TTM)18.6%
SectorTechnology
IndustrySoftware - Application
CountryFR
Data as of2025-12-29
Moat score
72/ 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 Dassault Systemes SE's moat claims, evidence, and risks.

View DSY 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: Dassault Systemes SE leads (72 / 100 vs 66 / 100 for Paychex, Inc.).
  • Segment focus: Dassault Systemes SE has 3 segments (55% in Industrial Innovation); Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Dassault Systemes SE has 7 moat types across 4 domains; Paychex, Inc. has 7 across 4.

Primary market context

Dassault Systemes SE

Industrial Innovation

Market

Enterprise PLM, CAD/CAE, and digital manufacturing software for discrete industries

Geography

Global

Customer

Large enterprises and Tier-1 suppliers

Role

Software platform vendor

Revenue share

55%

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

Dassault Systemes SE
Paychex, Inc.
Ticker / Exchange
DSY - Euronext Paris
PAYX - NASDAQ Global Select Market
Market cap (USD)
$30.8B
$39.4B
Gross margin (TTM)
81%
73.4%
Operating margin (TTM)
21.4%
37.1%
Net margin (TTM)
18.6%
26.5%
Sector
Technology
Industrials
Industry
Software - Application
Staffing & Employment Services
HQ country
FR
US
Primary segment
Industrial Innovation
Management Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
72 / 100
66 / 100
Moat domains
Demand, Network, Supply, Legal
Demand, Supply, Legal, Financial
Last update
2025-12-29
2026-01-04

Moat coverage

Shared moat types

Data Workflow LockinSuite BundlingSwitching Costs GeneralCompliance Advantage

Dassault Systemes SE strengths

De Facto StandardDistribution ControlReputation Reviews

Paychex, Inc. strengths

Service Field NetworkUnderwriting Risk PoolingFloat Prepayment

Segment mix

Dassault Systemes SE segments

Full profile >

Industrial Innovation

Oligopoly

55%

Mainstream Innovation

Oligopoly

25%

Life Sciences

Oligopoly

20%

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.