VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

FactSet Research Systems Inc. vs Paychex, Inc.

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

FactSet Research Systems Inc.

FDS · New York Stock Exchange

Market cap (USD)$10.8B
Gross margin (TTM)52.3%
Operating margin (TTM)31.7%
Net margin (TTM)25.4%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2025-12-30
Moat score
85/ 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 FactSet Research Systems Inc.'s moat claims, evidence, and risks.

View FDS 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: FactSet Research Systems Inc. leads (85 / 100 vs 66 / 100 for Paychex, Inc.).
  • Segment focus: FactSet Research Systems Inc. has 2 segments; Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Moat breadth: FactSet Research Systems Inc. has 6 moat types across 3 domains; Paychex, Inc. has 7 across 4.

Primary market context

FactSet Research Systems Inc.

Hosted Platform (Workstations & Analytics)

Market

Financial data and analytics platforms for investment professionals

Geography

Global

Customer

Institutional investors and financial institutions

Role

Software and data platform vendor

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

FactSet Research Systems Inc.
Paychex, Inc.
Ticker / Exchange
FDS - New York Stock Exchange
PAYX - NASDAQ Global Select Market
Market cap (USD)
$10.8B
$39.4B
Gross margin (TTM)
52.3%
73.4%
Operating margin (TTM)
31.7%
37.1%
Net margin (TTM)
25.4%
26.5%
Sector
Financials
Industrials
Industry
Financial - Data & Stock Exchanges
Staffing & Employment Services
HQ country
US
US
Primary segment
Hosted Platform (Workstations & Analytics)
Management Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
85 / 100
66 / 100
Moat domains
Demand, Network, Legal
Demand, Supply, Legal, Financial
Last update
2025-12-30
2026-01-04

Moat coverage

Shared moat types

Data Workflow LockinSwitching Costs GeneralSuite Bundling

FactSet Research Systems Inc. strengths

Standards RegistryDe Facto StandardConcession License

Paychex, Inc. strengths

Service Field NetworkCompliance AdvantageUnderwriting Risk PoolingFloat Prepayment

Segment mix

FactSet Research Systems Inc. segments

Full profile >

Hosted Platform (Workstations & Analytics)

Oligopoly

n/a

Identifier Platform (CUSIP Global Services)

Quasi-Monopoly

n/a

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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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.