VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Paychex, Inc. vs Sea Limited

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

Sea Limited

SE · New York Stock Exchange

Market cap (USD)$82.8B
Gross margin (TTM)44.9%
Operating margin (TTM)8.2%
Net margin (TTM)6.8%
SectorConsumer
IndustrySpecialty Retail
CountrySG
Data as of2026-01-06
Moat score
69/ 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 Sea Limited's moat claims, evidence, and risks.

View SE analysis

Comparison highlights

  • Moat score gap: Sea Limited leads (69 / 100 vs 66 / 100 for Paychex, Inc.).
  • Segment focus: Paychex, Inc. has 3 segments (73% in Management Solutions); Sea Limited has 3 segments (73.8% in Shopee (E-commerce)).
  • Moat breadth: Paychex, Inc. has 7 moat types across 4 domains; Sea Limited has 6 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%

Sea Limited

Shopee (E-commerce)

Market

E-commerce marketplace and related value-added services

Geography

Southeast Asia, Taiwan, Brazil

Customer

Consumers and sellers

Role

Marketplace operator

Revenue share

73.8%

Side-by-side metrics

Paychex, Inc.
Sea Limited
Ticker / Exchange
PAYX - NASDAQ Global Select Market
SE - New York Stock Exchange
Market cap (USD)
$39.4B
$82.8B
Gross margin (TTM)
73.4%
44.9%
Operating margin (TTM)
37.1%
8.2%
Net margin (TTM)
26.5%
6.8%
Sector
Industrials
Consumer
Industry
Staffing & Employment Services
Specialty Retail
HQ country
US
SG
Primary segment
Management Solutions
Shopee (E-commerce)
Market structure
Oligopoly
Oligopoly
Market share
n/a
52% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
66 / 100
69 / 100
Moat domains
Demand, Supply, Legal, Financial
Network, Supply, Legal
Last update
2026-01-04
2026-01-06

Moat coverage

Shared moat types

No overlap yet.

Paychex, Inc. strengths

Data Workflow LockinSuite BundlingService Field NetworkCompliance AdvantageUnderwriting Risk PoolingSwitching Costs GeneralFloat Prepayment

Sea Limited strengths

Two Sided NetworkDistribution ControlEcosystem ComplementsRegulated Standards PipeDirect Network EffectsContractual Exclusivity

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%

Sea Limited segments

Full profile >

Shopee (E-commerce)

Oligopoly

73.8%

SeaMoney (Digital Financial Services)

Competitive

14.1%

Garena (Digital Entertainment)

Competitive

11.4%

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.