Edenred SE

EDEN: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€88.00	Xzq	Msgvlxy

Wide-Moat Edenred Powers Out of 2021

Michael Field

Apr 7, 2022

Business Strategy and Outlook

Edenred is the world leader in prepaid corporate services, with its main business in employee benefits, such as meal vouchers. This market is highly concentrated: In key region Brazil, for example, Edenred is the number-one player, followed closely by peers Sodexo and Alelo. Together, the three control 90% of the market. Edenred has a presence in 46 countries and holds the number-one or number-two spot in each of its key markets.

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