VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

PepsiCo, Inc. vs SBA Communications Corporation

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

PepsiCo, Inc.

PEP · Nasdaq Global Select Market

Market cap (USD)$195.5B
Gross margin (TTM)54.2%
Operating margin (TTM)14.3%
Net margin (TTM)7.8%
SectorConsumer
IndustryBeverages - Non-Alcoholic
CountryUS
Data as of2025-12-23
Moat score
72/ 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 PepsiCo, Inc.'s moat claims, evidence, and risks.

View PEP 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: PepsiCo, Inc. leads (72 / 100 vs 71 / 100 for SBA Communications Corporation).
  • Segment focus: PepsiCo, Inc. has 7 segments (27% in Frito-Lay North America (FLNA)); SBA Communications Corporation has 3 segments (69.5% in Domestic Site Leasing).
  • Moat breadth: PepsiCo, Inc. has 4 moat types across 2 domains; SBA Communications Corporation has 4 across 2.

Primary market context

PepsiCo, Inc.

Frito-Lay North America (FLNA)

Market

Branded convenient foods (salty snacks, dips and adjacent categories)

Geography

United States and Canada

Customer

Retailers, convenience stores, foodservice

Role

Branded manufacturer + distributor (DSD/warehouse/distributor networks)

Revenue share

27%

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

PepsiCo, Inc.
SBA Communications Corporation
Ticker / Exchange
PEP - Nasdaq Global Select Market
SBAC - NASDAQ
Market cap (USD)
$195.5B
n/a
Gross margin (TTM)
54.2%
n/a
Operating margin (TTM)
14.3%
n/a
Net margin (TTM)
7.8%
n/a
Sector
Consumer
Real Estate
Industry
Beverages - Non-Alcoholic
REIT - Specialty
HQ country
US
US
Primary segment
Frito-Lay North America (FLNA)
Domestic Site Leasing
Market structure
Oligopoly
Oligopoly
Market share
54%-58% (implied)
16%-19% (implied)
HHI estimate
3,530
3,710
Pricing power
Moderate
Moderate
Moat score
72 / 100
71 / 100
Moat domains
Supply, Demand
Supply, Demand
Last update
2025-12-23
2026-01-02

Moat coverage

Shared moat types

Scale Economies Unit Cost

PepsiCo, Inc. strengths

Distribution ControlBrand TrustScope Economies

SBA Communications Corporation strengths

Physical Network DensityLong Term ContractsOperational Excellence

Segment mix

PepsiCo, Inc. segments

Full profile >

Frito-Lay North America (FLNA)

Oligopoly

27%

Quaker Foods North America (QFNA)

Competitive

4.2%

PepsiCo Beverages North America (PBNA)

Oligopoly

19.9%

Latin America (LatAm)

Oligopoly

12.3%

Europe

Oligopoly

22.4%

Africa, Middle East and South Asia (AMESA)

Competitive

8.8%

Asia Pacific, Australia & New Zealand and China Region (APAC)

Competitive

5.5%

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.