VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

American Tower Corporation vs Spirax Group plc

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)
SectorReal Estate
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

Spirax Group plc

SPX · London Stock Exchange

Market cap (USD)$6.7B
SectorIndustrials
CountryGB
Data as of2025-12-28
Moat score
71/ 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 Spirax Group plc's moat claims, evidence, and risks.

View SPX analysis

Comparison highlights

  • Moat score gap: American Tower Corporation leads (76 / 100 vs 71 / 100 for Spirax Group plc).
  • Segment focus: American Tower Corporation has 3 segments; Spirax Group plc has 3 segments (52.1% in Steam Thermal Solutions).
  • Moat breadth: American Tower Corporation has 6 moat types across 4 domains; Spirax Group plc has 6 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)

Spirax Group plc

Steam Thermal Solutions

Market

Industrial and commercial steam systems (condensate management, controls, thermal energy management products and solutions)

Geography

Global

Customer

Industrial process operators and commercial facility operators

Role

OEM / solutions provider

Revenue share

52.1%

Side-by-side metrics

American Tower Corporation
Spirax Group plc
Ticker / Exchange
AMT - New York Stock Exchange
SPX - London Stock Exchange
Market cap (USD)
n/a
$6.7B
Sector
Real Estate
Industrials
HQ country
US
GB
Primary segment
U.S. & Canada Communications Sites
Steam Thermal Solutions
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
76 / 100
71 / 100
Moat domains
Demand, Legal, Supply, Network
Supply, Demand
Last update
2025-12-31
2025-12-28

Moat coverage

Shared moat types

No overlap yet.

American Tower Corporation strengths

Long Term ContractsPermits Rights Of WayPhysical Network DensitySwitching Costs GeneralInteroperability HubCapacity Moat

Spirax Group plc strengths

Service Field NetworkInstalled Base ConsumablesBrand TrustCapex Knowhow ScaleDesign In QualificationSuite Bundling

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

Spirax Group plc segments

Full profile >

Steam Thermal Solutions

Oligopoly

52.1%

Electric Thermal Solutions

Competitive

24.3%

Watson-Marlow Fluid Technology Solutions

Oligopoly

23.6%

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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.