Source: iqoption.com.
Overview
Quite often, in the business world, we have seen companies consisting of both cash cow and cash calf. On the one hand, the cash-cow business takes care of generating reliable, repeatable, and predictable cash streams protected by sustainable competitive advantages. On the other hand, the cash calf plays as the growth engine in charge of increasing the company's top line. This way, long-term buy-and-hold investors harvest both economic moat on the defensive side and the growth opportunities on the offensive side.
Paychex is a typical case here. The Rochester, NY-based company