VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Global Payments Inc. vs Shopify 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)$16.1B
Gross margin (TTM)69.4%
Operating margin (TTM)23.5%
Net margin (TTM)16.9%
SectorFinancials
IndustrySpecialty Business Services
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

Shopify Inc.

SHOP · Nasdaq Global Select Market

Market cap (USD)$163.7B
Gross margin (TTM)48.1%
Operating margin (TTM)12.7%
Net margin (TTM)10.7%
SectorTechnology
IndustrySoftware - Application
CountryCA
Data as of2026-04-25
Moat score
73/ 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 Shopify Inc.'s moat claims, evidence, and risks.

View SHOP analysis

Comparison highlights

  • Moat score gap: Shopify Inc. leads (73 / 100 vs 62 / 100 for Global Payments Inc.).
  • Segment focus: Global Payments Inc. has 2 segments (76.1% in Merchant Solutions); Shopify Inc. has 2 segments (76.2% in Merchant Solutions).
  • Moat breadth: Global Payments Inc. has 6 moat types across 4 domains; Shopify Inc. has 7 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%

Shopify Inc.

Merchant Solutions

Market

Integrated merchant payments, checkout, lending, shipping, POS hardware, partner referrals, ads and buyer-acquisition services for Shopify merchants

Geography

Global, with Shopify Payments and related solutions available across selected countries

Customer

Shopify merchants, Shopify Plus merchants, retail operators and buyers using Shop Pay or Shop App

Role

Embedded payments, checkout, fintech, fulfillment-adjacent and commerce-services layer attached to Shopify storefronts

Revenue share

76.2%

Side-by-side metrics

Global Payments Inc.
Shopify Inc.
Ticker / Exchange
GPN - New York Stock Exchange
SHOP - Nasdaq Global Select Market
Market cap (USD)
$16.1B
$163.7B
Gross margin (TTM)
69.4%
48.1%
Operating margin (TTM)
23.5%
12.7%
Net margin (TTM)
16.9%
10.7%
Sector
Financials
Technology
Industry
Specialty Business Services
Software - Application
HQ country
US
CA
Primary segment
Merchant Solutions
Merchant Solutions
Market structure
Competitive
Competitive
Market share
n/a
65.6% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
62 / 100
73 / 100
Moat domains
Network, Demand, Supply, Legal
Network, Demand, Supply
Last update
2026-01-10
2026-04-25

Moat coverage

Shared moat types

Ecosystem ComplementsData Workflow LockinScale Economies Unit Cost

Global Payments Inc. strengths

Long Term ContractsSwitching Costs GeneralCompliance Advantage

Shopify Inc. strengths

Brand TrustSuite BundlingKeystone ComponentHabit Default

Segment mix

Global Payments Inc. segments

Full profile >

Merchant Solutions

Competitive

76.1%

Issuer Solutions

Oligopoly

24.6%

Shopify Inc. segments

Full profile >

Subscription Solutions

Competitive

23.8%

Merchant Solutions

Competitive

76.2%

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.