VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Kongsberg Gruppen ASA vs Paychex, Inc.

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

Kongsberg Gruppen ASA

KOG · Euronext Oslo Bors

Market cap (USD)$249B
Gross margin (TTM)38.1%
Operating margin (TTM)13.5%
Net margin (TTM)12.9%
SectorIndustrials
IndustryAerospace & Defense
CountryNO
Data as of2025-12-28
Moat score
81/ 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 Kongsberg Gruppen ASA's moat claims, evidence, and risks.

View KOG 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: Kongsberg Gruppen ASA leads (81 / 100 vs 66 / 100 for Paychex, Inc.).
  • Segment focus: Kongsberg Gruppen ASA has 4 segments (49.5% in Kongsberg Maritime); Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Moat breadth: Kongsberg Gruppen ASA has 9 moat types across 4 domains; Paychex, Inc. has 7 across 4.

Primary market context

Kongsberg Gruppen ASA

Kongsberg Maritime

Market

Maritime technology & integrated ship systems (propulsion, automation, bridge, energy efficiency, service)

Geography

Global

Customer

Shipyards, shipowners, offshore operators, naval customers

Role

OEM and systems integrator; aftermarket service provider

Revenue share

49.5%

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

Kongsberg Gruppen ASA
Paychex, Inc.
Ticker / Exchange
KOG - Euronext Oslo Bors
PAYX - NASDAQ Global Select Market
Market cap (USD)
$249B
$39.4B
Gross margin (TTM)
38.1%
73.4%
Operating margin (TTM)
13.5%
37.1%
Net margin (TTM)
12.9%
26.5%
Sector
Industrials
Industrials
Industry
Aerospace & Defense
Staffing & Employment Services
HQ country
NO
US
Primary segment
Kongsberg Maritime
Management Solutions
Market structure
Oligopoly
Oligopoly
Market share
30%-35% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
66 / 100
Moat domains
Demand, Supply, Legal, Network
Demand, Supply, Legal, Financial
Last update
2025-12-28
2026-01-04

Moat coverage

Shared moat types

Service Field NetworkCompliance AdvantageData Workflow Lockin

Kongsberg Gruppen ASA strengths

Installed Base ConsumablesGovernment Contracting RelationshipsDesign In QualificationLong Term ContractsCapex Knowhow ScaleEcosystem Complements

Paychex, Inc. strengths

Suite BundlingUnderwriting Risk PoolingSwitching Costs GeneralFloat Prepayment

Segment mix

Kongsberg Gruppen ASA segments

Full profile >

Kongsberg Maritime

Oligopoly

49.5%

Kongsberg Defence & Aerospace

Oligopoly

38.2%

Kongsberg Discovery

Competitive

8.8%

Kongsberg Digital

Competitive

3.5%

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.