VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Paychex, Inc. vs RELX PLC

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

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

RELX PLC

REL · London Stock Exchange

Market cap (USD)$55.8B
Gross margin (TTM)64%
Operating margin (TTM)30.7%
Net margin (TTM)20.3%
SectorIndustrials
IndustryPublishing
CountryGB
Data as of2025-12-30
Moat score
78/ 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 RELX PLC's moat claims, evidence, and risks.

View REL analysis

Comparison highlights

  • Moat score gap: RELX PLC leads (78 / 100 vs 66 / 100 for Paychex, Inc.).
  • Segment focus: Paychex, Inc. has 3 segments (73% in Management Solutions); RELX PLC has 4 segments (34.4% in Risk).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Paychex, Inc. has 7 moat types across 4 domains; RELX PLC has 8 across 3.

Primary market context

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%

RELX PLC

Risk

Market

Risk analytics & decisioning platforms (fraud/identity, financial crime compliance, insurance underwriting/claims, industry data)

Geography

Global (largest in North America)

Customer

Enterprises (banks, insurers, digital commerce), governments, and other regulated industries

Role

Data/analytics provider and workflow platform

Revenue share

34.4%

Side-by-side metrics

Paychex, Inc.
RELX PLC
Ticker / Exchange
PAYX - NASDAQ Global Select Market
REL - London Stock Exchange
Market cap (USD)
$39.4B
$55.8B
Gross margin (TTM)
73.4%
64%
Operating margin (TTM)
37.1%
30.7%
Net margin (TTM)
26.5%
20.3%
Sector
Industrials
Industrials
Industry
Staffing & Employment Services
Publishing
HQ country
US
GB
Primary segment
Management Solutions
Risk
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
66 / 100
78 / 100
Moat domains
Demand, Supply, Legal, Financial
Network, Demand, Legal
Last update
2026-01-04
2025-12-30

Moat coverage

Shared moat types

Data Workflow LockinSuite BundlingCompliance Advantage

Paychex, Inc. strengths

Service Field NetworkUnderwriting Risk PoolingSwitching Costs GeneralFloat Prepayment

RELX PLC strengths

Data Network EffectsContent Rights CurrencyBrand TrustTwo Sided NetworkReputation Reviews

Segment mix

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%

RELX PLC segments

Full profile >

Risk

Oligopoly

34.4%

Scientific, Technical & Medical

Oligopoly

32.3%

Legal

Oligopoly

20.1%

Exhibitions

Competitive

13.1%

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.