VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

SBA Communications Corporation vs S&P Global Inc.

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

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

S&P Global Inc.

SPGI · New York Stock Exchange

Market cap (USD)$156.2B
Gross margin (TTM)70%
Operating margin (TTM)40.7%
Net margin (TTM)27.5%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2025-12-21
Moat score
77/ 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 S&P Global Inc.'s moat claims, evidence, and risks.

View SPGI analysis

Comparison highlights

  • Moat score gap: S&P Global Inc. leads (77 / 100 vs 71 / 100 for SBA Communications Corporation).
  • Segment focus: SBA Communications Corporation has 3 segments (69.5% in Domestic Site Leasing); S&P Global Inc. has 5 segments (32.6% in S&P Global Market Intelligence).
  • Moat breadth: SBA Communications Corporation has 4 moat types across 2 domains; S&P Global Inc. has 9 across 5.

Primary market context

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%

S&P Global Inc.

S&P Global Market Intelligence

Market

Financial market data, analytics, and workflow tools for institutions

Geography

Global

Customer

B2B (institutional investors, banks, insurers, corporates)

Role

Data/analytics and workflow software provider

Revenue share

32.6%

Side-by-side metrics

SBA Communications Corporation
S&P Global Inc.
Ticker / Exchange
SBAC - NASDAQ
SPGI - New York Stock Exchange
Market cap (USD)
n/a
$156.2B
Gross margin (TTM)
n/a
70%
Operating margin (TTM)
n/a
40.7%
Net margin (TTM)
n/a
27.5%
Sector
Real Estate
Financials
Industry
REIT - Specialty
Financial - Data & Stock Exchanges
HQ country
US
US
Primary segment
Domestic Site Leasing
S&P Global Market Intelligence
Market structure
Oligopoly
Oligopoly
Market share
16%-19% (implied)
n/a
HHI estimate
3,710
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
77 / 100
Moat domains
Supply, Demand
Demand, Supply, Legal, Network, Financial
Last update
2026-01-02
2025-12-21

Moat coverage

Shared moat types

No overlap yet.

SBA Communications Corporation strengths

Physical Network DensityLong Term ContractsScale Economies Unit CostOperational Excellence

S&P Global Inc. strengths

Data Workflow LockinScope EconomiesRegulated Standards PipeBrand TrustDe Facto StandardCompliance AdvantageSwitching Costs GeneralEcosystem ComplementsBenchmark Pricing Power

Segment mix

SBA Communications Corporation segments

Full profile >

Domestic Site Leasing

Oligopoly

69.5%

International Site Leasing

Oligopoly

24.8%

Site Development

Competitive

5.7%

S&P Global Inc. segments

Full profile >

S&P Global Market Intelligence

Oligopoly

32.6%

S&P Global Ratings

Oligopoly

29.6%

S&P Global Commodity Insights

Oligopoly

15.1%

S&P Global Mobility

Competitive

11.3%

S&P Dow Jones Indices

Oligopoly

11.4%

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.