VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Jack Henry & Associates, Inc. vs Shopify Inc.

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

Jack Henry & Associates, Inc.

JKHY · Nasdaq

Market cap (USD)$10.9B
Gross margin (TTM)43.8%
Operating margin (TTM)25.9%
Net margin (TTM)20.6%
SectorTechnology
IndustryInformation Technology Services
CountryUS
Data as of2025-12-25
Moat score
59/ 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 Jack Henry & Associates, Inc.'s moat claims, evidence, and risks.

View JKHY 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 59 / 100 for Jack Henry & Associates, Inc.).
  • Segment focus: Jack Henry & Associates, Inc. has 3 segments (36.8% in Payments); Shopify Inc. has 2 segments (76.2% in Merchant Solutions).
  • Moat breadth: Jack Henry & Associates, Inc. has 7 moat types across 3 domains; Shopify Inc. has 7 across 3.

Primary market context

Jack Henry & Associates, Inc.

Payments

Market

Payment processing and transaction services for financial institutions (card, ACH, bill pay, faster payments, settlement support)

Geography

United States

Customer

Banks, credit unions, and their accountholders; businesses via FI clients

Role

Processor and settlement/risk services provider

Revenue share

36.8%

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

Jack Henry & Associates, Inc.
Shopify Inc.
Ticker / Exchange
JKHY - Nasdaq
SHOP - Nasdaq Global Select Market
Market cap (USD)
$10.9B
$163.7B
Gross margin (TTM)
43.8%
48.1%
Operating margin (TTM)
25.9%
12.7%
Net margin (TTM)
20.6%
10.7%
Sector
Technology
Technology
Industry
Information Technology Services
Software - Application
HQ country
US
CA
Primary segment
Payments
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
59 / 100
73 / 100
Moat domains
Demand, Legal, Supply
Network, Demand, Supply
Last update
2025-12-25
2026-04-25

Moat coverage

Shared moat types

Suite BundlingScale Economies Unit CostData Workflow LockinBrand Trust

Jack Henry & Associates, Inc. strengths

Long Term ContractsSwitching Costs GeneralCompliance Advantage

Shopify Inc. strengths

Ecosystem ComplementsKeystone ComponentHabit Default

Segment mix

Jack Henry & Associates, Inc. segments

Full profile >

Core

Oligopoly

31.1%

Payments

Competitive

36.8%

Complementary

Competitive

28.4%

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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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.