VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

Medtronic plc vs Paychex, Inc.

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

Medtronic plc

MDT · New York Stock Exchange

Market cap (USD)$124.9B
Gross margin (TTM)62.3%
Operating margin (TTM)17.9%
Net margin (TTM)13.7%
SectorHealthcare
IndustryMedical - Devices
CountryIE
Data as of2025-12-31
Moat score
63/ 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 Medtronic plc's moat claims, evidence, and risks.

View MDT 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: Paychex, Inc. leads (66 / 100 vs 63 / 100 for Medtronic plc).
  • Segment focus: Medtronic plc has 4 segments (37.2% in Cardiovascular Portfolio); Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Moat breadth: Medtronic plc has 9 moat types across 3 domains; Paychex, Inc. has 7 across 4.

Primary market context

Medtronic plc

Cardiovascular Portfolio

Market

Cardiovascular medical devices (cardiac rhythm management, electrophysiology/ablation, structural heart, coronary & peripheral vascular)

Geography

Global

Customer

Hospitals, cath labs, electrophysiologists, cardiologists, cardiac & vascular surgeons

Role

Device OEM + procedure support + remote monitoring software/services

Revenue share

37.2%

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

Medtronic plc
Paychex, Inc.
Ticker / Exchange
MDT - New York Stock Exchange
PAYX - NASDAQ Global Select Market
Market cap (USD)
$124.9B
$39.4B
Gross margin (TTM)
62.3%
73.4%
Operating margin (TTM)
17.9%
37.1%
Net margin (TTM)
13.7%
26.5%
Sector
Healthcare
Industrials
Industry
Medical - Devices
Staffing & Employment Services
HQ country
IE
US
Primary segment
Cardiovascular Portfolio
Management Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
63 / 100
66 / 100
Moat domains
Legal, Demand, Network
Demand, Supply, Legal, Financial
Last update
2025-12-31
2026-01-04

Moat coverage

Shared moat types

Data Workflow LockinSuite BundlingCompliance Advantage

Medtronic plc strengths

Regulated Standards PipeDesign In QualificationEcosystem ComplementsIP Choke PointProcurement InertiaInstalled Base Consumables

Paychex, Inc. strengths

Service Field NetworkUnderwriting Risk PoolingSwitching Costs GeneralFloat Prepayment

Segment mix

Medtronic plc segments

Full profile >

Cardiovascular Portfolio

Oligopoly

37.2%

Neuroscience Portfolio

Oligopoly

29.4%

Medical Surgical Portfolio

Competitive

25.1%

Diabetes Operating Unit

Oligopoly

8.2%

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.