VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

SBA Communications Corporation vs Vulcan Materials Company

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

Vulcan Materials Company

VMC · New York Stock Exchange

Market cap (USD)$38.3B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorMaterials
IndustryConstruction Materials
CountryUS
Data as of2026-01-01
Moat score
73/ 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 Vulcan Materials Company's moat claims, evidence, and risks.

View VMC analysis

Comparison highlights

  • Moat score gap: Vulcan Materials Company leads (73 / 100 vs 71 / 100 for SBA Communications Corporation).
  • Segment focus: SBA Communications Corporation has 3 segments (69.5% in Domestic Site Leasing); Vulcan Materials Company has 3 segments (74.4% in Aggregates).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: SBA Communications Corporation has 4 moat types across 2 domains; Vulcan Materials Company has 5 across 2.

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%

Vulcan Materials Company

Aggregates

Market

Construction aggregates (crushed stone, sand & gravel)

Geography

United States (local/regional markets)

Customer

Construction contractors and public infrastructure agencies

Role

Upstream raw materials producer

Revenue share

74.4%

Side-by-side metrics

SBA Communications Corporation
Vulcan Materials Company
Ticker / Exchange
SBAC - NASDAQ
VMC - New York Stock Exchange
Market cap (USD)
n/a
$38.3B
Gross margin (TTM)
n/a
n/a
Operating margin (TTM)
n/a
n/a
Net margin (TTM)
n/a
n/a
Sector
Real Estate
Materials
Industry
REIT - Specialty
Construction Materials
HQ country
US
US
Primary segment
Domestic Site Leasing
Aggregates
Market structure
Oligopoly
Oligopoly
Market share
16%-19% (implied)
8%-11% (implied)
HHI estimate
3,710
n/a
Pricing power
Moderate
Strong
Moat score
71 / 100
73 / 100
Moat domains
Supply, Demand
Legal, Supply
Last update
2026-01-02
2026-01-01

Moat coverage

Shared moat types

Physical Network DensityScale Economies Unit Cost

SBA Communications Corporation strengths

Long Term ContractsOperational Excellence

Vulcan Materials Company strengths

Permits Rights Of WayGeographic NaturalSupply Chain Control

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%

Vulcan Materials Company segments

Full profile >

Aggregates

Oligopoly

74.4%

Asphalt

Competitive

16.8%

Concrete

Competitive

8.8%

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.