VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

Stock Comparison

Rheinmetall Aktiengesellschaft vs SBA Communications Corporation

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

Rheinmetall Aktiengesellschaft

RHM · Xetra

Market cap (USD)$72.5B
Gross margin (TTM)44.8%
Operating margin (TTM)13.6%
Net margin (TTM)7.6%
SectorIndustrials
IndustryAerospace & Defense
CountryDE
Data as of2025-12-28
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 Rheinmetall Aktiengesellschaft's moat claims, evidence, and risks.

View RHM 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: both at 71 / 100.
  • Segment focus: Rheinmetall Aktiengesellschaft has 4 segments (36.7% in Vehicle Systems); SBA Communications Corporation has 3 segments (69.5% in Domestic Site Leasing).
  • Moat breadth: Rheinmetall Aktiengesellschaft has 6 moat types across 3 domains; SBA Communications Corporation has 4 across 2.

Primary market context

Rheinmetall Aktiengesellschaft

Vehicle Systems

Market

Armored and tactical wheeled/tracked military vehicles

Geography

Global (Europe/NATO weighted)

Customer

Government / military

Revenue share

36.7%

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

Rheinmetall Aktiengesellschaft
SBA Communications Corporation
Ticker / Exchange
RHM - Xetra
SBAC - NASDAQ
Market cap (USD)
$72.5B
n/a
Gross margin (TTM)
44.8%
n/a
Operating margin (TTM)
13.6%
n/a
Net margin (TTM)
7.6%
n/a
Sector
Industrials
Real Estate
Industry
Aerospace & Defense
REIT - Specialty
HQ country
DE
US
Primary segment
Vehicle Systems
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
71 / 100
71 / 100
Moat domains
Legal, Demand, Supply
Supply, Demand
Last update
2025-12-28
2026-01-02

Moat coverage

Shared moat types

Long Term Contracts

Rheinmetall Aktiengesellschaft strengths

Government Contracting RelationshipsDesign In QualificationCapacity MoatSupply Chain ControlDistribution Control

SBA Communications Corporation strengths

Physical Network DensityScale Economies Unit CostOperational Excellence

Segment mix

Rheinmetall Aktiengesellschaft segments

Full profile >

Vehicle Systems

Oligopoly

36.7%

Weapon and Ammunition

Oligopoly

26.9%

Electronic Solutions

Oligopoly

16.7%

Power Systems (civilian; planned divestiture)

Competitive

19.7%

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.