VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

FactSet Research Systems Inc. vs SBA Communications Corporation

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

FactSet Research Systems Inc.

FDS · New York Stock Exchange

Market cap (USD)$10.8B
Gross margin (TTM)52.3%
Operating margin (TTM)31.7%
Net margin (TTM)25.4%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2025-12-30
Moat score
85/ 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 FactSet Research Systems Inc.'s moat claims, evidence, and risks.

View FDS 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: FactSet Research Systems Inc. leads (85 / 100 vs 71 / 100 for SBA Communications Corporation).
  • Segment focus: FactSet Research Systems Inc. has 2 segments; SBA Communications Corporation has 3 segments (69.5% in Domestic Site Leasing).
  • Moat breadth: FactSet Research Systems Inc. has 6 moat types across 3 domains; SBA Communications Corporation has 4 across 2.

Primary market context

FactSet Research Systems Inc.

Hosted Platform (Workstations & Analytics)

Market

Financial data and analytics platforms for investment professionals

Geography

Global

Customer

Institutional investors and financial institutions

Role

Software and data platform vendor

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

FactSet Research Systems Inc.
SBA Communications Corporation
Ticker / Exchange
FDS - New York Stock Exchange
SBAC - NASDAQ
Market cap (USD)
$10.8B
n/a
Gross margin (TTM)
52.3%
n/a
Operating margin (TTM)
31.7%
n/a
Net margin (TTM)
25.4%
n/a
Sector
Financials
Real Estate
Industry
Financial - Data & Stock Exchanges
REIT - Specialty
HQ country
US
US
Primary segment
Hosted Platform (Workstations & Analytics)
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
85 / 100
71 / 100
Moat domains
Demand, Network, Legal
Supply, Demand
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

FactSet Research Systems Inc. strengths

Data Workflow LockinSwitching Costs GeneralSuite BundlingStandards RegistryDe Facto StandardConcession License

SBA Communications Corporation strengths

Physical Network DensityLong Term ContractsScale Economies Unit CostOperational Excellence

Segment mix

FactSet Research Systems Inc. segments

Full profile >

Hosted Platform (Workstations & Analytics)

Oligopoly

n/a

Identifier Platform (CUSIP Global Services)

Quasi-Monopoly

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?

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.