VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Sanofi vs SBA Communications Corporation

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

Sanofi

SAN · Euronext Paris

Market cap (USD)$100.3B
Gross margin (TTM)72%
Operating margin (TTM)18.7%
Net margin (TTM)20.2%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryFR
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 Sanofi's moat claims, evidence, and risks.

View SAN 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: Sanofi leads (74 / 100 vs 71 / 100 for SBA Communications Corporation).
  • Segment focus: Sanofi has 3 segments (79.8% in Pharma (Prescription Medicines)); SBA Communications Corporation has 3 segments (69.5% in Domestic Site Leasing).
  • Moat breadth: Sanofi has 5 moat types across 3 domains; SBA Communications Corporation has 4 across 2.

Primary market context

Sanofi

Pharma (Prescription Medicines)

Market

Branded prescription pharmaceuticals (immunology, rare disease, neurology, oncology, general medicines)

Geography

Global

Customer

Patients via payers/providers and channel partners (wholesalers, pharmacies, hospitals)

Role

Research-based drug developer, manufacturer, and marketer

Revenue share

79.8%

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

Sanofi
SBA Communications Corporation
Ticker / Exchange
SAN - Euronext Paris
SBAC - NASDAQ
Market cap (USD)
$100.3B
n/a
Gross margin (TTM)
72%
n/a
Operating margin (TTM)
18.7%
n/a
Net margin (TTM)
20.2%
n/a
Sector
Healthcare
Real Estate
Industry
Drug Manufacturers - General
REIT - Specialty
HQ country
FR
US
Primary segment
Pharma (Prescription Medicines)
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
Legal, Supply, Demand
Supply, Demand
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

No overlap yet.

Sanofi strengths

Regulated Standards PipeIP Choke PointLearning Curve YieldBrand TrustDistribution Control

SBA Communications Corporation strengths

Physical Network DensityLong Term ContractsScale Economies Unit CostOperational Excellence

Segment mix

Sanofi segments

Full profile >

Pharma (Prescription Medicines)

Oligopoly

79.8%

Vaccines

Oligopoly

20.2%

Opella (Consumer Healthcare - Sanofi minority stake)

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?

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.