VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

SBA Communications Corporation vs Constellation Brands, 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

Constellation Brands, Inc.

STZ · New York Stock Exchange

Market cap (USD)$24.7B
Gross margin (TTM)51.4%
Operating margin (TTM)34.6%
Net margin (TTM)12.7%
SectorConsumer
IndustryBeverages - Wineries & Distilleries
CountryUS
Data as of2025-12-23
Moat score
76/ 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 Constellation Brands, Inc.'s moat claims, evidence, and risks.

View STZ analysis

Comparison highlights

  • Moat score gap: Constellation Brands, Inc. leads (76 / 100 vs 71 / 100 for SBA Communications Corporation).
  • Segment focus: SBA Communications Corporation has 3 segments (69.5% in Domestic Site Leasing); Constellation Brands, Inc. has 2 segments (83.7% in Beer).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: SBA Communications Corporation has 4 moat types across 2 domains; Constellation Brands, Inc. has 4 across 3.

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%

Constellation Brands, Inc.

Beer

Market

U.S. high-end beer (imported beer + above-premium American beer)

Geography

United States

Customer

Beer wholesalers/distributors; retailers; on-premise

Role

Importer/producer; marketer; supplier to distributors

Revenue share

83.7%

Side-by-side metrics

SBA Communications Corporation
Constellation Brands, Inc.
Ticker / Exchange
SBAC - NASDAQ
STZ - New York Stock Exchange
Market cap (USD)
n/a
$24.7B
Gross margin (TTM)
n/a
51.4%
Operating margin (TTM)
n/a
34.6%
Net margin (TTM)
n/a
12.7%
Sector
Real Estate
Consumer
Industry
REIT - Specialty
Beverages - Wineries & Distilleries
HQ country
US
US
Primary segment
Domestic Site Leasing
Beer
Market structure
Oligopoly
Oligopoly
Market share
16%-19% (implied)
n/a
HHI estimate
3,710
n/a
Pricing power
Moderate
Strong
Moat score
71 / 100
76 / 100
Moat domains
Supply, Demand
Legal, Demand, Supply
Last update
2026-01-02
2025-12-23

Moat coverage

Shared moat types

No overlap yet.

SBA Communications Corporation strengths

Physical Network DensityLong Term ContractsScale Economies Unit CostOperational Excellence

Constellation Brands, Inc. strengths

Contractual ExclusivityBrand TrustDistribution ControlCapacity Moat

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%

Constellation Brands, Inc. segments

Full profile >

Beer

Oligopoly

83.7%

Wine and Spirits

Competitive

16.4%

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.