VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Edwards Lifesciences Corporation vs Paychex, Inc.

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

Edwards Lifesciences Corporation

EW · New York Stock Exchange

Market cap (USD)$49.4B
Gross margin (TTM)78.3%
Operating margin (TTM)26.6%
Net margin (TTM)23.2%
SectorHealthcare
IndustryMedical - Devices
CountryUS
Data as of2025-12-31
Moat score
82/ 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 Edwards Lifesciences Corporation's moat claims, evidence, and risks.

View EW 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: Edwards Lifesciences Corporation leads (82 / 100 vs 66 / 100 for Paychex, Inc.).
  • Segment focus: Edwards Lifesciences Corporation has 3 segments (75.5% in Transcatheter Aortic Valve Replacement (TAVR)); Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Moat breadth: Edwards Lifesciences Corporation has 6 moat types across 3 domains; Paychex, Inc. has 7 across 4.

Primary market context

Edwards Lifesciences Corporation

Transcatheter Aortic Valve Replacement (TAVR)

Market

Transcatheter aortic valve replacement (TAVR) devices

Geography

Global

Customer

Hospitals and structural heart centers

Role

Medical device manufacturer

Revenue share

75.5%

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

Edwards Lifesciences Corporation
Paychex, Inc.
Ticker / Exchange
EW - New York Stock Exchange
PAYX - NASDAQ Global Select Market
Market cap (USD)
$49.4B
$39.4B
Gross margin (TTM)
78.3%
73.4%
Operating margin (TTM)
26.6%
37.1%
Net margin (TTM)
23.2%
26.5%
Sector
Healthcare
Industrials
Industry
Medical - Devices
Staffing & Employment Services
HQ country
US
US
Primary segment
Transcatheter Aortic Valve Replacement (TAVR)
Management Solutions
Market structure
Oligopoly
Oligopoly
Market share
60%-73% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
82 / 100
66 / 100
Moat domains
Demand, Legal, Supply
Demand, Supply, Legal, Financial
Last update
2025-12-31
2026-01-04

Moat coverage

Shared moat types

Compliance Advantage

Edwards Lifesciences Corporation strengths

Brand TrustTraining Org Change CostsRegulated Standards PipeIP Choke PointSupply Chain Control

Paychex, Inc. strengths

Data Workflow LockinSuite BundlingService Field NetworkUnderwriting Risk PoolingSwitching Costs GeneralFloat Prepayment

Segment mix

Edwards Lifesciences Corporation segments

Full profile >

Transcatheter Aortic Valve Replacement (TAVR)

Oligopoly

75.5%

Transcatheter Mitral and Tricuspid Therapies (TMTT)

Competitive

6.5%

Surgical Structural Heart

Oligopoly

18%

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.