VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

SBA Communications Corporation vs Tesla, 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)$20.4B
Gross margin (TTM)75.4%
Operating margin (TTM)51.1%
Net margin (TTM)30.7%
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

Tesla, Inc.

TSLA · NASDAQ

Market cap (USD)$1.5T
Gross margin (TTM)17%
Operating margin (TTM)4.7%
Net margin (TTM)5.5%
SectorConsumer
IndustryAuto - Manufacturers
CountryUS
Data as of2026-01-05
Moat score
75/ 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 Tesla, Inc.'s moat claims, evidence, and risks.

View TSLA analysis

Comparison highlights

  • Moat score gap: Tesla, Inc. leads (75 / 100 vs 71 / 100 for SBA Communications Corporation).
  • Segment focus: SBA Communications Corporation has 3 segments (69.5% in Domestic Site Leasing); Tesla, Inc. has 3 segments (78.9% in Automotive (vehicles + software + leasing + regulatory credits)).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: SBA Communications Corporation has 4 moat types across 2 domains; Tesla, Inc. has 9 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%

Tesla, Inc.

Automotive (vehicles + software + leasing + regulatory credits)

Market

Battery-electric passenger vehicles (BEV) and connected vehicle software

Geography

United States (market share datapoint); global competition

Customer

Consumers and small fleets

Role

OEM (design, manufacture, direct-to-consumer sales)

Revenue share

78.9%

Side-by-side metrics

SBA Communications Corporation
Tesla, Inc.
Ticker / Exchange
SBAC - NASDAQ
TSLA - NASDAQ
Market cap (USD)
$20.4B
$1.5T
Gross margin (TTM)
75.4%
17%
Operating margin (TTM)
51.1%
4.7%
Net margin (TTM)
30.7%
5.5%
Sector
Real Estate
Consumer
Industry
REIT - Specialty
Auto - Manufacturers
HQ country
US
US
Primary segment
Domestic Site Leasing
Automotive (vehicles + software + leasing + regulatory credits)
Market structure
Oligopoly
Competitive
Market share
16%-19% (implied)
56.7% (reported)
HHI estimate
3,710
n/a
Pricing power
Moderate
Moderate
Moat score
71 / 100
75 / 100
Moat domains
Supply, Demand
Network, Supply, Demand
Last update
2026-01-02
2026-01-05

Moat coverage

Shared moat types

Physical Network DensityScale Economies Unit Cost

SBA Communications Corporation strengths

Long Term ContractsOperational Excellence

Tesla, Inc. strengths

Data Network EffectsCapex Knowhow ScaleBrand TrustService Field NetworkSwitching Costs GeneralScope EconomiesData Workflow Lockin

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%

Tesla, Inc. segments

Full profile >

Automotive (vehicles + software + leasing + regulatory credits)

Competitive

78.9%

Services and Other (Supercharging + after-sales + used vehicles + insurance)

Quasi-Monopoly

10.8%

Energy Generation and Storage (Megapack + Powerwall + solar)

Oligopoly

10.3%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

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.