VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Equinix, Inc. vs SBA Communications Corporation

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

Equinix, Inc.

EQIX · The Nasdaq Stock Market LLC

Market cap (USD)$74.5B
Gross margin (TTM)50.3%
Operating margin (TTM)16.9%
Net margin (TTM)11.8%
SectorReal Estate
IndustryREIT - Specialty
CountryUS
Data as of2025-12-31
Moat score
66/ 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 Equinix, Inc.'s moat claims, evidence, and risks.

View EQIX 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 66 / 100 for Equinix, Inc.).
  • Segment focus: Equinix, Inc. has 3 segments; SBA Communications Corporation has 3 segments (69.5% in Domestic Site Leasing).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: n/a vs Moderate.
  • Moat breadth: Equinix, Inc. has 7 moat types across 3 domains; SBA Communications Corporation has 4 across 2.

Primary market context

Equinix, Inc.

IBX Colocation & Interconnection Platform

Market

Carrier-neutral multi-tenant data centers (colocation) and physical interconnection (cross connects, exchanges) in network-dense metros

Geography

Global

Customer

Enterprises and service providers

Role

Digital infrastructure / colocation operator and interconnection hub

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

Equinix, Inc.
SBA Communications Corporation
Ticker / Exchange
EQIX - The Nasdaq Stock Market LLC
SBAC - NASDAQ
Market cap (USD)
$74.5B
n/a
Gross margin (TTM)
50.3%
n/a
Operating margin (TTM)
16.9%
n/a
Net margin (TTM)
11.8%
n/a
Sector
Real Estate
Real Estate
Industry
REIT - Specialty
REIT - Specialty
HQ country
US
US
Primary segment
IBX Colocation & Interconnection Platform
Domestic Site Leasing
Market structure
Oligopoly
Oligopoly
Market share
n/a
16%-19% (implied)
HHI estimate
n/a
3,710
Pricing power
n/a
Moderate
Moat score
66 / 100
71 / 100
Moat domains
Supply, Network, Demand
Supply, Demand
Last update
2025-12-31
2026-01-02

Moat coverage

Shared moat types

Physical Network Density

Equinix, Inc. strengths

Ecosystem ComplementsBrand TrustSwitching Costs GeneralCapex Knowhow ScaleCapacity MoatInteroperability Hub

SBA Communications Corporation strengths

Long Term ContractsScale Economies Unit CostOperational Excellence

Segment mix

Equinix, Inc. segments

Full profile >

IBX Colocation & Interconnection Platform

Oligopoly

n/a

Hyperscale xScale & Joint Ventures

Competitive

n/a

Digital Services & Software-Defined Interconnection

Competitive

n/a

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.