SBAC

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SBA Communications Corp.

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Key Metrics

Previous Close: $181.18
52-Week Range: $162.41 – $225.33
Market Cap: $19.15B
P/E (TTM): 19.48
EPS (TTM): 9.27
Dividend Yield: 2.74%

Advanced Metrics

Price/Book: —
PEG Ratio: 11.50
Return on Equity: —
Return on Assets: 8.41%
Gross Margin: 74.20%
Operating Margin: 52.16%
Profit Margin: 34.51%
Current Ratio: 0.17
Debt/Equity: —
Total Debt: $15.21B
Free Cash Flow: $752.06M
Revenue Growth: 2.30%
Earnings Growth: -10.50%
Enterprise Value: $34.32B

SBAC Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$2.63B	$2.71B	$2.68B	$2.82B
Cost of Revenue	$668.65M	$612.62M	$581.73M	$690.97M
Gross Profit	$1.96B	$2.10B	$2.10B	$2.12B
Selling, General & Admin	$261.85M	$267.94M	$258.76M	$277.61M
Operating Expenses	$969.43M	$984.25M	$528.27M	$569.90M
Operating Income	$995.38M	$1.11B	$1.57B	$1.55B
EBITDA	$1.63B	$1.70B	$1.47B	$2.01B
Pretax Income	$525.84M	$548.50M	$772.67M	$1.24B
Income Tax	$66.04M	$51.09M	$23.99M	$187.58M
Net Income	$461.43M	$501.81M	$749.54M	$1.05B
Diluted EPS	4.22	4.61	6.94	9.80
Diluted Shares	109.39M	108.91M	108.08M	107.53M

SBAC Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$143.71M	$208.55M	$189.84M	$264.57M
Receivables	$264.45M	$202.13M	$284.53M	$263.80M
Current Assets	$482.73M	$484.27M	$1.98B	$773.43M
Total Assets	$10.59B	$10.18B	$11.42B	$11.58B
Current Liabilities	$696.76M	$1.36B	$1.80B	$2.68B
Long-Term Debt	$12.84B	$11.68B	$12.40B	$10.96B
Total Debt	$15.17B	$14.46B	$15.76B	$15.32B
Total Liabilities	$15.83B	$15.31B	$16.47B	$16.35B
Retained Earnings	-$7.48B	-$7.45B	-$7.33B	-$7.25B
Shareholders' Equity	-$5.28B	-$5.17B	-$5.11B	-$4.85B
Working Capital	-$214.03M	-$878.99M	$180.78M	-$1.90B
Net Debt	$12.72B	$12.12B	$13.40B	$12.64B

SBAC Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$1.29B	$1.54B	$1.33B	$1.29B
Capital Expenditure	-$214.44M	-$236.70M	-$228.15M	-$224.82M
Free Cash Flow	$1.07B	$1.31B	$1.11B	$1.07B
Depreciation & Amortisation	$707.58M	$716.31M	$269.52M	$292.29M
Stock-Based Compensation	$99.91M	$87.92M	$74.37M	$75.73M
Investing Cash Flow	-$1.39B	-$468.25M	-$809.31M	-$601.83M
Financing Cash Flow	-$135.47M	-$1.02B	$645.74M	-$1.66B
Dividends Paid	-$306.77M	-$369.96M	-$424.19M	-$479.01M
Share Repurchases	-$431.67M	-$100.01M	-$200.02M	-$497.81M
Net Change in Cash	-$243.43M	$58.93M	$1.17B	-$974.08M

SBAC Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$664.25M	$698.98M	$732.33M	$719.58M	$703.44M
Cost of Revenue	$153.67M	$172.10M	$189.79M	$175.42M	$171.34M
Gross Profit	$510.58M	$526.88M	$542.54M	$544.16M	$532.10M
Selling, General & Admin	$66.22M	$71.02M	$66.01M	$74.36M	$70.55M
Operating Expenses	$131.27M	$140.99M	$142.89M	$154.75M	$151.86M
Operating Income	$379.31M	$385.90M	$399.65M	$389.41M	$380.24M
EBITDA	$437.47M	$451.61M	$486.69M	$635.33M	$446.63M
Pretax Income	$259.93M	$260.75M	$289.08M	$432.28M	$236.01M
Income Tax	$42.02M	$35.06M	$48.65M	$61.85M	$51.11M
Net Income	$220.73M	$225.79M	$236.82M	$370.29M	$184.83M
Diluted EPS	1.77	2.09	2.20	3.47	1.74
Diluted Shares	108.14M	107.80M	107.56M	106.65M	106.11M

SBAC Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$636.45M	$275.27M	$430.31M	$264.57M	$269.06M
Receivables	$158.23M	$189.57M	$218.90M	$263.80M	$250.48M
Current Assets	$933.32M	$523.81M	$812.52M	$773.43M	$767.49M
Total Assets	$10.44B	$10.77B	$11.26B	$11.58B	$11.72B
Current Liabilities	$1.34B	$1.43B	$1.61B	$2.68B	$3.35B
Long-Term Debt	$11.65B	$11.74B	$11.93B	$10.96B	$10.28B
Total Debt	$14.64B	$14.81B	$15.02B	$15.32B	$15.42B
Total Liabilities	$15.35B	$15.64B	$16.12B	$16.35B	$16.39B
Retained Earnings	-$7.23B	-$7.25B	-$7.28B	-$7.25B	-$7.20B
Shareholders' Equity	-$4.97B	-$4.94B	-$4.93B	-$4.85B	-$4.75B
Working Capital	-$409.70M	-$905.90M	-$798.44M	-$1.90B	-$2.58B
Net Debt	$11.79B	$12.24B	$12.28B	$12.64B	$12.69B

SBAC Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$301.18M	$368.10M	$318.03M	$304.02M	$255.09M
Capital Expenditure	-$46.17M	-$55.87M	-$60.05M	-$62.73M	-$48.40M
Free Cash Flow	$255.00M	$312.23M	$257.98M	$241.30M	$206.69M
Depreciation & Amortisation	$65.05M	$69.96M	$76.88M	$80.39M	$81.32M
Stock-Based Compensation	$15.71M	$21.52M	$19.32M	$19.18M	$18.94M
Investing Cash Flow	$238.27M	-$580.96M	-$78.31M	-$180.82M	-$296.77M
Financing Cash Flow	-$1.28B	-$158.28M	-$79.80M	-$143.36M	-$69.61M
Dividends Paid	-$122.28M	-$119.36M	-$119.14M	-$118.23M	-$135.19M
Share Repurchases	$0.00	-$130.70M	-$150.84M	-$216.27M	—
Net Change in Cash	-$742.69M	-$371.14M	$159.92M	-$20.16M	-$111.30M

Market Snapshot

About

SBA Communications Corp. is a leading independent owner and operator of wireless communications infrastructure. The company owns and manages thousands of tower sites across the Americas and South Africa, leasing space to wireless service providers. SBA Communications benefits from the growing demand for wireless connectivity and network densification.