VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

London Stock Exchange Group plc vs SBA Communications Corporation

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

London Stock Exchange Group plc

LSEG · London Stock Exchange

Market cap (USD)$45B
Gross margin (TTM)51.5%
Operating margin (TTM)19.6%
Net margin (TTM)9.4%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryGB
Data as of2025-12-30
Moat score
74/ 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 London Stock Exchange Group plc's moat claims, evidence, and risks.

View LSEG 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: London Stock Exchange Group plc leads (74 / 100 vs 71 / 100 for SBA Communications Corporation).
  • Segment focus: London Stock Exchange Group plc has 5 segments (51% in Data & Analytics); SBA Communications Corporation has 3 segments (69.5% in Domestic Site Leasing).
  • Moat breadth: London Stock Exchange Group plc has 8 moat types across 4 domains; SBA Communications Corporation has 4 across 2.

Primary market context

London Stock Exchange Group plc

Data & Analytics

Market

Financial market data, analytics and workflows (terminals and enterprise feeds)

Geography

Global

Customer

Financial institutions and corporates

Role

Data & analytics vendor

Revenue share

51%

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

London Stock Exchange Group plc
SBA Communications Corporation
Ticker / Exchange
LSEG - London Stock Exchange
SBAC - NASDAQ
Market cap (USD)
$45B
n/a
Gross margin (TTM)
51.5%
n/a
Operating margin (TTM)
19.6%
n/a
Net margin (TTM)
9.4%
n/a
Sector
Financials
Real Estate
Industry
Financial - Data & Stock Exchanges
REIT - Specialty
HQ country
GB
US
Primary segment
Data & 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
74 / 100
71 / 100
Moat domains
Demand, Supply, Network, Legal
Supply, Demand
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

Scale Economies Unit Cost

London Stock Exchange Group plc strengths

Data Workflow LockinDe Facto StandardBrand TrustCompliance AdvantageTwo Sided NetworkClearing SettlementConcession License

SBA Communications Corporation strengths

Physical Network DensityLong Term ContractsOperational Excellence

Segment mix

London Stock Exchange Group plc segments

Full profile >

Data & Analytics

Oligopoly

51%

FTSE Russell

Oligopoly

10.7%

Risk Intelligence

Oligopoly

6.2%

Capital Markets

Oligopoly

21.3%

Post Trade

Quasi-Monopoly

10.8%

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.