VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Paychex, Inc. vs Teleperformance SE

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)$32.6B
Gross margin (TTM)73.9%
Operating margin (TTM)36.9%
Net margin (TTM)25.8%
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

Teleperformance SE

TEP · Euronext Paris

Market cap (USD)$3.7B
Gross margin (TTM)21.7%
Operating margin (TTM)10.9%
Net margin (TTM)5%
SectorIndustrials
IndustrySpecialty Business Services
CountryFR
Data as of2026-04-25
Moat score
61/ 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 Teleperformance SE's moat claims, evidence, and risks.

View TEP analysis

Comparison highlights

  • Moat score gap: Paychex, Inc. leads (66 / 100 vs 61 / 100 for Teleperformance SE).
  • Segment focus: Paychex, Inc. has 3 segments (73% in Management Solutions); Teleperformance SE has 2 segments (85.5% in Core Services).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Paychex, Inc. has 7 moat types across 4 domains; Teleperformance SE has 7 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%

Teleperformance SE

Core Services

Market

Global outsourced customer experience management and digital integrated business process services

Geography

Global, serving around 170 markets from nearly 100 countries

Customer

Multinationals, digital platforms, public-sector agencies and large enterprises outsourcing customer operations

Role

Omnichannel CX, trust and safety, sales, technical support, back-office, AI data services and process transformation operator

Revenue share

85.5%

Side-by-side metrics

Paychex, Inc.
Teleperformance SE
Ticker / Exchange
PAYX - NASDAQ Global Select Market
TEP - Euronext Paris
Market cap (USD)
$32.6B
$3.7B
Gross margin (TTM)
73.9%
21.7%
Operating margin (TTM)
36.9%
10.9%
Net margin (TTM)
25.8%
5%
Sector
Industrials
Industrials
Industry
Staffing & Employment Services
Specialty Business Services
HQ country
US
FR
Primary segment
Management Solutions
Core Services
Market structure
Oligopoly
Competitive
Market share
n/a
10% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
66 / 100
61 / 100
Moat domains
Demand, Supply, Legal, Financial
Supply, Demand, Legal
Last update
2026-01-04
2026-04-25

Moat coverage

Shared moat types

Compliance Advantage

Paychex, Inc. strengths

Data Workflow LockinSuite BundlingService Field NetworkUnderwriting Risk PoolingSwitching Costs GeneralFloat Prepayment

Teleperformance SE strengths

Scale Economies Unit CostProcurement InertiaScope EconomiesOperational ExcellenceBrand TrustLong Term Contracts

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%

Teleperformance SE segments

Full profile >

Core Services

Competitive

85.5%

Specialized Services

Oligopoly

14.5%

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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.