VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Thursday, January 8, 2026

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Stock Comparison

MSCI Inc. vs Paychex, Inc.

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

MSCI Inc.

MSCI · New York Stock Exchange

Market cap (USD)$44.7B
Gross margin (TTM)82.4%
Operating margin (TTM)54.2%
Net margin (TTM)40%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2025-12-28
Moat score
76/ 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 MSCI Inc.'s moat claims, evidence, and risks.

View MSCI 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: MSCI Inc. leads (76 / 100 vs 66 / 100 for Paychex, Inc.).
  • Segment focus: MSCI Inc. has 4 segments (55.9% in Index); Paychex, Inc. has 3 segments (73% in Management Solutions).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: MSCI Inc. has 4 moat types across 3 domains; Paychex, Inc. has 7 across 4.

Primary market context

MSCI Inc.

Index

Market

Investment indexes and index licensing

Geography

Global

Customer

Institutional investors and asset managers

Role

Index provider / benchmark administrator

Revenue share

55.9%

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

MSCI Inc.
Paychex, Inc.
Ticker / Exchange
MSCI - New York Stock Exchange
PAYX - NASDAQ Global Select Market
Market cap (USD)
$44.7B
$39.4B
Gross margin (TTM)
82.4%
73.4%
Operating margin (TTM)
54.2%
37.1%
Net margin (TTM)
40%
26.5%
Sector
Financials
Industrials
Industry
Financial - Data & Stock Exchanges
Staffing & Employment Services
HQ country
US
US
Primary segment
Index
Management Solutions
Market structure
Oligopoly
Oligopoly
Market share
23%-27% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
76 / 100
66 / 100
Moat domains
Network, Demand, Legal
Demand, Supply, Legal, Financial
Last update
2025-12-28
2026-01-04

Moat coverage

Shared moat types

Switching Costs GeneralCompliance AdvantageData Workflow Lockin

MSCI Inc. strengths

De Facto Standard

Paychex, Inc. strengths

Suite BundlingService Field NetworkUnderwriting Risk PoolingFloat Prepayment

Segment mix

MSCI Inc. segments

Full profile >

Index

Oligopoly

55.9%

Analytics

Oligopoly

23.6%

Sustainability and Climate

Competitive

11.4%

Private Assets

Competitive

9%

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?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.