VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

HENSOLDT AG vs Paychex, Inc.

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

HENSOLDT AG

HAG · Xetra

Market cap (USD)$9.5B
Gross margin (TTM)21.5%
Operating margin (TTM)8.9%
Net margin (TTM)5.2%
SectorIndustrials
IndustryAerospace & Defense
CountryDE
Data as of2025-12-28
Moat score
77/ 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 HENSOLDT AG's moat claims, evidence, and risks.

View HAG 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: HENSOLDT AG leads (77 / 100 vs 66 / 100 for Paychex, Inc.).
  • Segment focus: HENSOLDT AG has 2 segments (84.6% in Sensors); Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Moat breadth: HENSOLDT AG has 3 moat types across 2 domains; Paychex, Inc. has 7 across 4.

Primary market context

HENSOLDT AG

Sensors

Market

Defence and security sensor solutions (radar, electronic warfare, avionics, mission systems integration)

Geography

Global (Europe-centric)

Customer

Government defence ministries/armed forces and defence prime contractors

Role

Defence electronics supplier / system integrator

Revenue share

84.6%

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

HENSOLDT AG
Paychex, Inc.
Ticker / Exchange
HAG - Xetra
PAYX - NASDAQ Global Select Market
Market cap (USD)
$9.5B
$39.4B
Gross margin (TTM)
21.5%
73.4%
Operating margin (TTM)
8.9%
37.1%
Net margin (TTM)
5.2%
26.5%
Sector
Industrials
Industrials
Industry
Aerospace & Defense
Staffing & Employment Services
HQ country
DE
US
Primary segment
Sensors
Management Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
77 / 100
66 / 100
Moat domains
Demand, Supply
Demand, Supply, Legal, Financial
Last update
2025-12-28
2026-01-04

Moat coverage

Shared moat types

No overlap yet.

HENSOLDT AG strengths

Design In QualificationLong Term ContractsCapex Knowhow Scale

Paychex, Inc. strengths

Data Workflow LockinSuite BundlingService Field NetworkCompliance AdvantageUnderwriting Risk PoolingSwitching Costs GeneralFloat Prepayment

Segment mix

HENSOLDT AG segments

Full profile >

Sensors

Oligopoly

84.6%

Optronics

Oligopoly

15.4%

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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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.