VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Crown Castle Inc. vs Tradeweb Markets Inc.

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

Crown Castle Inc.

CCI · New York Stock Exchange

Market cap (USD)$38.5B
Gross margin (TTM)73.4%
Operating margin (TTM)-61%
Net margin (TTM)-95.4%
SectorReal Estate
IndustryREIT - Specialty
CountryUS
Data as of2026-01-02
Moat score
84/ 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 Crown Castle Inc.'s moat claims, evidence, and risks.

View CCI analysis

Tradeweb Markets Inc.

TW · Nasdaq Global Select Market

Market cap (USD)$23.6B
Gross margin (TTM)66.7%
Operating margin (TTM)40.3%
Net margin (TTM)31.6%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2026-01-06
Moat score
70/ 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 Tradeweb Markets Inc.'s moat claims, evidence, and risks.

View TW analysis

Comparison highlights

  • Moat score gap: Crown Castle Inc. leads (84 / 100 vs 70 / 100 for Tradeweb Markets Inc.).
  • Segment focus: Crown Castle Inc. has 2 segments (67% in Towers); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Crown Castle Inc. has 3 moat types across 3 domains; Tradeweb Markets Inc. has 7 across 4.

Primary market context

Crown Castle Inc.

Towers

Market

U.S. macrocell tower leasing (wireless site rental)

Geography

United States

Customer

Mobile network operators

Role

Infrastructure owner/lessor

Revenue share

67%

Tradeweb Markets Inc.

Rates

Market

Electronic dealer-to-client and all-to-all trading in rates (government bonds, mortgages/TBA MBS, interest rate swaps)

Geography

Global

Customer

Institutional, wholesale dealers, and retail via ATS

Role

Electronic marketplace / trading venue

Revenue share

52.4%

Side-by-side metrics

Crown Castle Inc.
Tradeweb Markets Inc.
Ticker / Exchange
CCI - New York Stock Exchange
TW - Nasdaq Global Select Market
Market cap (USD)
$38.5B
$23.6B
Gross margin (TTM)
73.4%
66.7%
Operating margin (TTM)
-61%
40.3%
Net margin (TTM)
-95.4%
31.6%
Sector
Real Estate
Financials
Industry
REIT - Specialty
Financial - Capital Markets
HQ country
US
US
Primary segment
Towers
Rates
Market structure
Oligopoly
Oligopoly
Market share
16%-26% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
84 / 100
70 / 100
Moat domains
Supply, Legal, Demand
Network, Demand, Legal, Supply
Last update
2026-01-02
2026-01-06

Moat coverage

Shared moat types

Long Term Contracts

Crown Castle Inc. strengths

Physical Network DensityPermits Rights Of Way

Tradeweb Markets Inc. strengths

Two Sided NetworkData Workflow LockinCompliance AdvantageEcosystem ComplementsBrand TrustScope Economies

Segment mix

Crown Castle Inc. segments

Full profile >

Towers

Oligopoly

67%

Fiber (small cells + fiber solutions)

Competitive

33%

Tradeweb Markets Inc. segments

Full profile >

Rates

Oligopoly

52.4%

Credit

Oligopoly

26.6%

Equities

Competitive

6%

Money Markets

Oligopoly

6.7%

Market Data

Competitive

6.8%

Other

Competitive

1.4%

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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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

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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.