VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Kenvue Inc. vs Paychex, Inc.

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

Kenvue Inc.

KVUE · New York Stock Exchange

Market cap (USD)$32.2B
Gross margin (TTM)58.1%
Operating margin (TTM)15.7%
Net margin (TTM)9.6%
SectorConsumer
IndustryHousehold & Personal Products
CountryUS
Data as of2025-12-25
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 Kenvue Inc.'s moat claims, evidence, and risks.

View KVUE 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: both at 66 / 100.
  • Segment focus: Kenvue Inc. has 3 segments (42.3% in Self Care); Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Moat breadth: Kenvue Inc. has 6 moat types across 3 domains; Paychex, Inc. has 7 across 4.

Primary market context

Kenvue Inc.

Self Care

Market

OTC self-care consumer health products (pain care, cough/cold/allergy, digestive health, smoking cessation, eye care)

Geography

Global

Customer

Consumers via retailers, pharmacies, and e-commerce

Role

Branded consumer health products manufacturer

Revenue share

42.3%

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

Kenvue Inc.
Paychex, Inc.
Ticker / Exchange
KVUE - New York Stock Exchange
PAYX - NASDAQ Global Select Market
Market cap (USD)
$32.2B
$39.4B
Gross margin (TTM)
58.1%
73.4%
Operating margin (TTM)
15.7%
37.1%
Net margin (TTM)
9.6%
26.5%
Sector
Consumer
Industrials
Industry
Household & Personal Products
Staffing & Employment Services
HQ country
US
US
Primary segment
Self Care
Management Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
66 / 100
66 / 100
Moat domains
Demand, Supply, Legal
Demand, Supply, Legal, Financial
Last update
2025-12-25
2026-01-04

Moat coverage

Shared moat types

Compliance Advantage

Kenvue Inc. strengths

Brand TrustScale Economies Unit CostScope EconomiesDistribution ControlHabit Default

Paychex, Inc. strengths

Data Workflow LockinSuite BundlingService Field NetworkUnderwriting Risk PoolingSwitching Costs GeneralFloat Prepayment

Segment mix

Kenvue Inc. segments

Full profile >

Self Care

Oligopoly

42.3%

Skin Health and Beauty

Competitive

27.4%

Essential Health

Competitive

30.3%

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.