VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

American Tower Corporation vs VINCI SA

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

American Tower Corporation

AMT · New York Stock Exchange

Market cap (USD)$82.5B
Gross margin (TTM)74.6%
Operating margin (TTM)45.9%
Net margin (TTM)28.1%
SectorReal Estate
IndustryREIT - Specialty
CountryUS
Data as of2025-12-31
Moat score
76/ 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 American Tower Corporation's moat claims, evidence, and risks.

View AMT analysis

VINCI SA

DG · Euronext Paris

Market cap (USD)$67.5B
Gross margin (TTM)16%
Operating margin (TTM)12.1%
Net margin (TTM)6.5%
SectorIndustrials
IndustryEngineering & Construction
CountryFR
Data as of2026-01-03
Moat score
57/ 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 VINCI SA's moat claims, evidence, and risks.

View DG analysis

Comparison highlights

  • Moat score gap: American Tower Corporation leads (76 / 100 vs 57 / 100 for VINCI SA).
  • Segment focus: American Tower Corporation has 3 segments; VINCI SA has 7 segments (44.4% in VINCI Construction).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: American Tower Corporation has 6 moat types across 4 domains; VINCI SA has 7 across 2.

Primary market context

American Tower Corporation

U.S. & Canada Communications Sites

Market

Wireless communications site leasing (macro towers, rooftops and DAS)

Geography

United States and Canada

Customer

Wireless carriers and other tenants (broadcast, data, government/municipal)

Role

Independent owner/operator of communications real estate (towerco)

VINCI SA

VINCI Construction

Market

Construction and civil engineering contracting (buildings, infrastructure and specialty networks)

Geography

Global

Customer

Public-sector project owners and private developers/industrial clients

Role

General contractor / civil engineering contractor

Revenue share

44.4%

Side-by-side metrics

American Tower Corporation
VINCI SA
Ticker / Exchange
AMT - New York Stock Exchange
DG - Euronext Paris
Market cap (USD)
$82.5B
$67.5B
Gross margin (TTM)
74.6%
16%
Operating margin (TTM)
45.9%
12.1%
Net margin (TTM)
28.1%
6.5%
Sector
Real Estate
Industrials
Industry
REIT - Specialty
Engineering & Construction
HQ country
US
FR
Primary segment
U.S. & Canada Communications Sites
VINCI Construction
Market structure
Oligopoly
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
76 / 100
57 / 100
Moat domains
Demand, Legal, Supply, Network
Legal, Supply
Last update
2025-12-31
2026-01-03

Moat coverage

Shared moat types

Permits Rights Of WayCapacity Moat

American Tower Corporation strengths

Long Term ContractsPhysical Network DensitySwitching Costs GeneralInteroperability Hub

VINCI SA strengths

Concession LicenseOperational ExcellenceService Field NetworkCapex Knowhow ScaleCompliance Advantage

Segment mix

American Tower Corporation segments

Full profile >

U.S. & Canada Communications Sites

Oligopoly

n/a

International Communications Sites

Oligopoly

n/a

Data Centers

Competitive

n/a

VINCI SA segments

Full profile >

VINCI Autoroutes

Monopoly

9.2%

VINCI Airports

Oligopoly

6.3%

Other concessions (incl. VINCI Highways and PPP assets)

Competitive

0.8%

VINCI Energies

Competitive

28.4%

Cobra IS

Competitive

9.9%

VINCI Construction

Competitive

44.4%

VINCI Immobilier

Competitive

1.6%

Want the full wide moat stocks list?

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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.