10 Internet Infrastructure Leaders with 10–30% ROIC and Structural Moats

The internet has shifted from a collection of apps into a global operating system for commerce, entertainment, and communication. And behind the scenes, a small group of companies have become essential service providers that keep it running.

From payments to cloud computing to digital advertising, these firms form the connective tissue of the modern economy. Their platforms process global transactions, store data, and distribute content at a scale that’s almost impossible to replicate, giving them durable competitive advantages and steady cash generation.

Here are 10 companies that have become part of the internet’s core infrastructure, benefiting as digital activity continues to expand worldwide.

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These are 3 of the stocks from this list that might have the most upside today:

Netflix (NFLX)

Netflix is one of the purest examples of a company that earns a cut from the internet’s most time-consuming activity, streaming. Every minute viewers spend watching online, Netflix is monetizing that digital engagement through its subscription model. Unlike ad-based businesses, Netflix’s revenue flow is direct, predictable, and recurring. The company’s streaming platform now reaches over 270 million paid members globally, with a growing share of those users converting to higher-priced tiers or ad-supported plans.

What makes Netflix a “cut-per-use” powerhouse is its dominance in global bandwidth consumption, it accounts for an estimated 15% of total internet traffic at peak times. Every streamed episode or movie represents another slice of recurring revenue already paid for through subscriptions. Netflix has further deepened this advantage through content localization, partnerships with telecom operators, and its growing advertising segment. In effect, Netflix doesn’t just earn when users go online, it earns from how people stay online for hours at a time, consuming the digital world’s most bandwidth-intensive medium.

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Shopify (SHOP)

Shopify is the unseen backbone of millions of online businesses, taking a small cut from the global surge in e-commerce every time a purchase happens on a Shopify-powered site. The company’s platform enables entrepreneurs and brands to build digital storefronts, while Shopify monetizes every transaction through its ecosystem of payment processing (Shopify Payments), subscriptions, and value-added services. Whenever you buy from an independent online shop, whether it’s apparel, cosmetics, or gadgets, there’s a good chance Shopify earns a percentage of that sale.

What sets Shopify apart is how it scales horizontally across the internet economy. It doesn’t compete with its merchants; it empowers them, acting as a digital landlord collecting rent and transaction fees from the countless online stores it powers. In doing so, Shopify has positioned itself as a “meta-layer” of internet commerce, quietly profiting from both the startup hustle and the enterprise boom. With gross merchandise volume exceeding $235 billion annually and rising, Shopify’s cut of the internet economy grows organically every time global consumers click “buy now.”

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Amazon.com (AMZN)

Amazon is perhaps the most comprehensive example of an internet company that earns a cut from nearly every digital purchase, advertisement, or cloud interaction. Beyond its own retail operations, Amazon’s third-party marketplace, which now accounts for roughly 60% of total e-commerce sales on its platform, generates commission fees, fulfillment charges, and advertising revenue every time a seller completes a transaction. In essence, Amazon has become the world’s most powerful online mall, taking a percentage of nearly every sale that flows through it.

The company’s monetization model has evolved from simple retail to a complex web of digital toll booths. Its Amazon Advertising division earns billions by selling visibility to sellers competing for consumer attention, while Fulfillment by Amazon (FBA) ensures Amazon takes a cut of logistics and shipping. Combined, these ecosystem effects make Amazon indispensable to the modern internet economy, a digital infrastructure that quietly profits from the endless churn of online commerce. Whether consumers are buying, streaming, or even using Alexa, Amazon earns a cut from each interaction, cementing its role as the most embedded monetizer in online life.

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Disclaimer:

Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!