SBAC

SBA Communications Corp - Class A

Exchange: NASDAQSector: Real EstateIndustry: REIT - Specialty

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas and in Africa, SBA is listed on NASDAQ under the symbol SBAC. Our organization is part of the S&P 500 and one of the top Real Estate Investment Trusts (REITs) by market capitalization.

Did you know?

Earnings per share grew at a 38.9% CAGR.

Current Price

$218.58

-1.18%

GoodMoat Value

$320.58

46.7% undervalued

Profile

Valuation (TTM)

Market Cap$23.29B

P/E22.10

EV$33.21B

P/B—

Shares Out106.55M

P/Sales8.27

Revenue$2.82B

EV/EBITDA18.99

SBA Communications Corp - Class A (SBAC) Financial Statements

GoodMoat Analysis

Based on data as of March 26, 2026

SBA Communications demonstrates strong profitability and free cash flow generation, with operating margins near 48% and a robust FCF yield of 7.9%. However, revenue growth is modest at 3.7% YoY, and the company's financial quality is heavily influenced by its REIT structure, which typically carries high debt.

Read full analysis

Analyzing SBA Communications through the GoodMoat framework reveals a mixed quality profile. The company exhibits exceptionally strong profitability, with an operating margin of 47.7% and a profit margin of 37.4%, which would be considered high for any sector. Free cash flow generation is also robust, with a 7.9% FCF yield, comfortably exceeding the framework's >10-15% FCF margin threshold when considered as a percentage of revenue. This indicates efficient conversion of earnings into cash. However, revenue growth of 3.7% YoY is modest and does not meet the framework's standard for consistent, double-digit growth, placing it as a 'Weak' indicator for that criterion. The balance sheet requires careful consideration typical for REITs; while specific debt-to-equity and net cash figures are not provided in the data, REITs in this sector are typically leveraged to fund their infrastructure assets, making a low debt/EBITDA ratio a critical factor to verify for a 'Strong' rating. The current P/E of 16.7x suggests the market is not pricing in high growth, aligning with the observed growth rate. Overall, the company scores highly on profitability and cash flow but shows limitations in growth trajectory, which is a key component of the quality assessment.

SBAC Financial Data

EBITDA$2.01B

Revenue (TTM)$2.82B

Gross Profit (TTM)$2.12B

Gross Margin—

Operating Margin47.70%

ROE—

ROA9.10%

Debt/Equity—

Current Ratio0.29

FCF$1.40B

FCF Yield6.00%

Piotroski F-Score—

Rev/Share (TTM)$26.42

50-Day MA$198.52

200-Day MA$197.33

Shares Outstanding0.11B

SBAC Computed Insights

FCF$1.40B

FCF Growth Rate9.38%

EPS Growth (CAGR)38.86%

WACC10.00%

Income Statement

Balance Sheet

Cash Flow Statement

SBAC Financial Statements & Data

SBA Communications Corp - Class A (SBAC) financial data including income statement, balance sheet, and cash flow statement. This page provides a comprehensive view of SBA Communications Corp - Class A's financial performance and position as a Real Estate company.

Trailing twelve-month (TTM) revenue is $2.82B. Gross profit (TTM) is $2.12B. EBITDA is $2.01B. Earnings per share (EPS) is $9.80. The P/E ratio is 22.10. Market capitalization is $23.29B.

Free cash flow (FCF) is $1.40B. FCF growth rate is 9.38%. EPS growth CAGR is 38.86%. Weighted average cost of capital (WACC) is 10.00%.

Historical revenue data covers 7 years from FY19 to FY25. Net income history spans 7 years. Free cash flow and capital expenditure data spans 7 years. GoodMoat displays interactive charts for revenue, net income, FCF vs CAPEX, and cash-to-debt ratios to help investors identify financial trends.

Use SBA Communications Corp - Class A's financial data to assess the company's earnings quality, balance sheet health, and cash generation. Compare key metrics across periods to identify trends before making investment decisions with GoodMoat's valuation tools.