VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

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Stock Comparison

Global Payments Inc. vs Morningstar, Inc.

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

Global Payments Inc.

GPN · New York Stock Exchange

Market cap (USD)$18.8B

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorFinancials

Industry—

CountryUS

Data as of2026-01-10

Moat score

62/ 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 Global Payments Inc.'s moat claims, evidence, and risks.

View GPN analysis

Morningstar, Inc.

MORN · NASDAQ

Market cap (USD)—

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorFinancials

Industry—

CountryUS

Data as of2026-01-10

Moat score

67/ 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 Morningstar, Inc.'s moat claims, evidence, and risks.

View MORN analysis

Comparison highlights

Moat score gap: Morningstar, Inc. leads (67 / 100 vs 62 / 100 for Global Payments Inc.).
Segment focus: Global Payments Inc. has 2 segments (76.1% in Merchant Solutions); Morningstar, Inc. has 7 segments (34.6% in Morningstar Data and Analytics).
Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
Moat breadth: Global Payments Inc. has 6 moat types across 4 domains; Morningstar, Inc. has 6 across 3.

Primary market context

Global Payments Inc.

Merchant Solutions

Market

Merchant acquiring and integrated payments (card-present and e-commerce)

Geography

Global

Customer

Merchants (SMB to enterprise) and software platforms

Role

Acquirer and payment processor

Revenue share

76.1%

Morningstar, Inc.

Morningstar Data and Analytics

Market

Investment data, research, and analytics platforms

Geography

Global

Revenue share

34.6%

Side-by-side metrics

Global Payments Inc.

Morningstar, Inc.

Ticker / Exchange

GPN - New York Stock Exchange

MORN - NASDAQ

Market cap (USD)

$18.8B

n/a

Gross margin (TTM)

n/a

Operating margin (TTM)

n/a

Net margin (TTM)

n/a

Sector

Financials

Industry

n/a

HQ country

Primary segment

Merchant Solutions

Morningstar Data and Analytics

Market structure

Competitive

Oligopoly

Market share

n/a

HHI estimate

n/a

Pricing power

Moderate

Moat score

62 / 100

67 / 100

Moat domains

Network, Demand, Supply, Legal

Demand, Network, Legal

Last update

2026-01-10

Moat coverage

Shared moat types

Data Workflow Lockin

Global Payments Inc. strengths

Ecosystem ComplementsScale Economies Unit CostLong Term ContractsSwitching Costs GeneralCompliance Advantage

Morningstar, Inc. strengths

De Facto StandardRegulated Standards PipeSuite BundlingTraining Org Change CostsIP Choke Point

Segment mix

Global Payments Inc. segments

Full profile >

Merchant Solutions

Competitive

76.1%

Issuer Solutions

Oligopoly

24.6%

Morningstar, Inc. segments

Full profile >

Morningstar Data and Analytics

Oligopoly

34.6%

PitchBook

Oligopoly

27.2%

Morningstar Credit

Oligopoly

12.8%

Morningstar Wealth

Competitive

10.9%

Morningstar Retirement

Competitive

5.6%

Morningstar Sustainalytics

Oligopoly

5.2%

Morningstar Indexes

Oligopoly

3.7%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.