VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 3, 2026

Stock Comparison

Bio-Rad Laboratories, Inc. vs SBA Communications Corporation

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

Bio-Rad Laboratories, Inc.

BIO · New York Stock Exchange

Market cap (USD)$8.2B
Gross margin (TTM)52.3%
Operating margin (TTM)8.8%
Net margin (TTM)-26.4%
SectorHealthcare
IndustryMedical - Devices
CountryUS
Data as of2025-12-30
Moat score
61/ 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 Bio-Rad Laboratories, Inc.'s moat claims, evidence, and risks.

View BIO 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 61 / 100 for Bio-Rad Laboratories, Inc.).
  • Segment focus: Bio-Rad Laboratories, Inc. has 2 segments (59.9% in Clinical Diagnostics); SBA Communications Corporation has 3 segments (69.5% in Domestic Site Leasing).
  • Moat breadth: Bio-Rad Laboratories, Inc. has 6 moat types across 3 domains; SBA Communications Corporation has 4 across 2.

Primary market context

Bio-Rad Laboratories, Inc.

Clinical Diagnostics

Market

In vitro diagnostics test systems, reagents/test kits, informatics, and clinical laboratory quality controls

Geography

Global

Customer

Hospital laboratories; diagnostic reference laboratories; transfusion laboratories; physician office laboratories

Role

IVD OEM / installed-base consumables supplier (systems + kits + controls)

Revenue share

59.9%

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

Bio-Rad Laboratories, Inc.
SBA Communications Corporation
Ticker / Exchange
BIO - New York Stock Exchange
SBAC - NASDAQ
Market cap (USD)
$8.2B
n/a
Gross margin (TTM)
52.3%
n/a
Operating margin (TTM)
8.8%
n/a
Net margin (TTM)
-26.4%
n/a
Sector
Healthcare
Real Estate
Industry
Medical - Devices
REIT - Specialty
HQ country
US
US
Primary segment
Clinical Diagnostics
Domestic Site Leasing
Market structure
Oligopoly
Oligopoly
Market share
9%-11% (implied)
16%-19% (implied)
HHI estimate
n/a
3,710
Pricing power
Moderate
Moderate
Moat score
61 / 100
71 / 100
Moat domains
Supply, Demand, Legal
Supply, Demand
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Bio-Rad Laboratories, Inc. strengths

Scope EconomiesDistribution ControlCapex Knowhow ScaleInstalled Base ConsumablesSwitching Costs GeneralCompliance Advantage

SBA Communications Corporation strengths

Physical Network DensityLong Term ContractsScale Economies Unit CostOperational Excellence

Segment mix

Bio-Rad Laboratories, Inc. segments

Full profile >

Life Science

Competitive

40.1%

Clinical Diagnostics

Oligopoly

59.9%

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?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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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.