VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Legrand S.A. vs Paychex, Inc.

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

Legrand S.A.

LR · Euronext Paris

Market cap (USD)$33B
Gross margin (TTM)51.1%
Operating margin (TTM)19.5%
Net margin (TTM)13%
SectorIndustrials
IndustryElectrical Equipment & Parts
CountryFR
Data as of2026-01-02
Moat score
68/ 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 Legrand S.A.'s moat claims, evidence, and risks.

View LR 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: Legrand S.A. leads (68 / 100 vs 66 / 100 for Paychex, Inc.).
  • Segment focus: Legrand S.A. has 2 segments (80% in Building electrical & digital infrastructure (non-datacenter)); Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Moat breadth: Legrand S.A. has 4 moat types across 3 domains; Paychex, Inc. has 7 across 4.

Primary market context

Legrand S.A.

Building electrical & digital infrastructure (non-datacenter)

Market

Low-voltage electrical and digital building infrastructure (wiring devices, energy distribution, cable management, building controls)

Geography

Global (strong Europe & North America footprint)

Customer

Professional installers/electricians, electrical wholesalers, OEM/contractors; end-users in residential & commercial buildings

Role

Manufacturer + brand owner; channel-driven distribution

Revenue share

80%

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

Legrand S.A.
Paychex, Inc.
Ticker / Exchange
LR - Euronext Paris
PAYX - NASDAQ Global Select Market
Market cap (USD)
$33B
$39.4B
Gross margin (TTM)
51.1%
73.4%
Operating margin (TTM)
19.5%
37.1%
Net margin (TTM)
13%
26.5%
Sector
Industrials
Industrials
Industry
Electrical Equipment & Parts
Staffing & Employment Services
HQ country
FR
US
Primary segment
Building electrical & digital infrastructure (non-datacenter)
Management Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
68 / 100
66 / 100
Moat domains
Legal, Supply, Demand
Demand, Supply, Legal, Financial
Last update
2026-01-02
2026-01-04

Moat coverage

Shared moat types

Compliance Advantage

Legrand S.A. strengths

Scope EconomiesBrand TrustDesign In Qualification

Paychex, Inc. strengths

Data Workflow LockinSuite BundlingService Field NetworkUnderwriting Risk PoolingSwitching Costs GeneralFloat Prepayment

Segment mix

Legrand S.A. segments

Full profile >

Building electrical & digital infrastructure (non-datacenter)

Oligopoly

80%

Datacenter infrastructure

Oligopoly

20%

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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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.