VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Barry Callebaut AG vs SBA Communications Corporation

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

Barry Callebaut AG

BARN · SIX Swiss Exchange

Market cap (USD)$7.2B
Gross margin (TTM)11.1%
Operating margin (TTM)4.6%
Net margin (TTM)1.5%
SectorConsumer
IndustryFood Confectioners
CountryCH
Data as of2025-12-29
Moat score
63/ 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 Barry Callebaut AG's moat claims, evidence, and risks.

View BARN analysis

SBA Communications Corporation

SBAC · NASDAQ

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorReal Estate
IndustryREIT - Specialty
CountryUS
Data as of2026-01-02
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 SBA Communications Corporation's moat claims, evidence, and risks.

View SBAC analysis

Comparison highlights

  • Moat score gap: SBA Communications Corporation leads (71 / 100 vs 63 / 100 for Barry Callebaut AG).
  • Segment focus: Barry Callebaut AG has 2 segments (68.7% in Global Chocolate); SBA Communications Corporation has 3 segments (69.5% in Domestic Site Leasing).
  • Moat breadth: Barry Callebaut AG has 6 moat types across 2 domains; SBA Communications Corporation has 4 across 2.

Primary market context

Barry Callebaut AG

Global Chocolate

Market

Chocolate ingredients and solutions (B2B) for food manufacturers and professional/artisan customers

Geography

Global

Customer

Industrial food manufacturers; professional/artisan users (chocolatiers, bakers, pastry chefs, foodservice)

Role

Ingredient manufacturer / solutions provider

Revenue share

68.7%

SBA Communications Corporation

Domestic Site Leasing

Market

U.S. wireless macro tower leasing (multi-tenant co-location on communications towers)

Geography

United States and territories

Customer

Wireless service providers and other wireless network operators/tenants

Role

Independent tower owner/operator (REIT)

Revenue share

69.5%

Side-by-side metrics

Barry Callebaut AG
SBA Communications Corporation
Ticker / Exchange
BARN - SIX Swiss Exchange
SBAC - NASDAQ
Market cap (USD)
$7.2B
n/a
Gross margin (TTM)
11.1%
n/a
Operating margin (TTM)
4.6%
n/a
Net margin (TTM)
1.5%
n/a
Sector
Consumer
Real Estate
Industry
Food Confectioners
REIT - Specialty
HQ country
CH
US
Primary segment
Global Chocolate
Domestic Site Leasing
Market structure
Oligopoly
Oligopoly
Market share
n/a
16%-19% (implied)
HHI estimate
n/a
3,710
Pricing power
Moderate
Moderate
Moat score
63 / 100
71 / 100
Moat domains
Supply, Demand
Supply, Demand
Last update
2025-12-29
2026-01-02

Moat coverage

Shared moat types

Scale Economies Unit Cost

Barry Callebaut AG strengths

Capex Knowhow ScaleSupply Chain ControlBrand TrustCost-plus pass-through modelPreferential Input Access

SBA Communications Corporation strengths

Physical Network DensityLong Term ContractsOperational Excellence

Segment mix

Barry Callebaut AG segments

Full profile >

Global Chocolate

Oligopoly

68.7%

Global Cocoa

Oligopoly

31.3%

SBA Communications Corporation segments

Full profile >

Domestic Site Leasing

Oligopoly

69.5%

International Site Leasing

Oligopoly

24.8%

Site Development

Competitive

5.7%

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.