VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Eaton Corporation plc vs Paychex, Inc.

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

Eaton Corporation plc

ETN · New York Stock Exchange

Market cap (USD)$125.2B
Gross margin (TTM)38.1%
Operating margin (TTM)19.4%
Net margin (TTM)14.7%
SectorIndustrials
IndustryIndustrial - Machinery
CountryIE
Data as of2025-12-31
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 Eaton Corporation plc's moat claims, evidence, and risks.

View ETN 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: both at 66 / 100.
  • Segment focus: Eaton Corporation plc has 5 segments (46% in Electrical Americas); Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Moat breadth: Eaton Corporation plc has 7 moat types across 3 domains; Paychex, Inc. has 7 across 4.

Primary market context

Eaton Corporation plc

Electrical Americas

Market

Electrical components, power distribution systems/assemblies, and related services (Americas)

Geography

North and South America

Customer

Industrial, commercial/institutional, utilities, residential, and IT/data center customers (end users and channel partners)

Role

Manufacturer + systems/assembly provider + service provider

Revenue share

46%

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

Eaton Corporation plc
Paychex, Inc.
Ticker / Exchange
ETN - New York Stock Exchange
PAYX - NASDAQ Global Select Market
Market cap (USD)
$125.2B
$39.4B
Gross margin (TTM)
38.1%
73.4%
Operating margin (TTM)
19.4%
37.1%
Net margin (TTM)
14.7%
26.5%
Sector
Industrials
Industrials
Industry
Industrial - Machinery
Staffing & Employment Services
HQ country
IE
US
Primary segment
Electrical Americas
Management Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
66 / 100
66 / 100
Moat domains
Supply, Demand, Legal
Demand, Supply, Legal, Financial
Last update
2025-12-31
2026-01-04

Moat coverage

Shared moat types

Compliance AdvantageService Field Network

Eaton Corporation plc strengths

Distribution ControlScope EconomiesDesign In QualificationInstalled Base ConsumablesLong Term Contracts

Paychex, Inc. strengths

Data Workflow LockinSuite BundlingUnderwriting Risk PoolingSwitching Costs GeneralFloat Prepayment

Segment mix

Eaton Corporation plc segments

Full profile >

Electrical Americas

Oligopoly

46%

Electrical Global

Oligopoly

25.1%

Aerospace

Oligopoly

15%

Vehicle

Competitive

11.2%

eMobility

Competitive

2.7%

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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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.