GoAI
Get started
SBA Communications Corporation logo

SBA Communications Corporation

SBAC

NASDAQReal EstateREIT - Specialty

Open in GoAI

Previous close

$182.59

+$2.05 · +1.14%

Aug 21, 4:00 PM ET

Pre-market

$182.1

−$0.49 · -0.27%

Aug 24, 7:39 AM ET

SBAC company overview

Historical prices · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

64

Undervalued

Momentum

45

Neutral

Sentiment

71

Bullish

Risk resilience

62

Moderate Risk

Full GoAI research

Thesis, catalysts, evidence, and risk analysis.

View full GoAI research

AI-generated, informational only, and not investment advice.

Company profile

Company website

SBA Communications Corporation stands as a premier owner, operator, and provider of crucial wireless communication infrastructure across North, Central, and South America, in addition to South Africa. Guided by its mission to 'Build Better Wireless,' the company primarily earns revenue from two core business areas: the leasing of antenna space and providing comprehensive site development services. Its central activity revolves around renting out capacity on its shared communication towers to various wireless service providers through long-term contractual agreements. For further details, please visit www.sbasite.com.

Industry
REIT - Specialty
Sector
Real Estate
Headquarters
US
CEO
Brendan Thomas Cavanagh
Listed since
Jun 16, 1999
Employees
1,844

Market position

Day range

Current $182.59

52-week range

Current $182.59

Open
$180.71
Previous close
$180.54
Volume
891.55K
0.9× average
Average volume
990.55K
Average daily volume
Market cap
19.37B USD
Beta
0.98
Market reference 1
50-day average
$183.97
-0.75% below average
200-day average
$193.44
-5.61% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
35.62B USD
P/E (TTM)
19.61×
P/B (TTM)
-4.18×
P/S (TTM)
6.75×
EV / EBITDA
16.29×
Earnings yield
5.08%
Free cash flow yield
5.14%
Dividend yield
2.66%

Profitability & efficiency

Gross margin
63.89%
Operating margin
50.79%
Net margin
34.51%
Return on equity
-21.71%
Return on assets
9.10%
Return on invested capital
10.05%

Financial health

Debt / equity
-3.28×
Current ratio
0.49×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends84%57%30%4%Gross margin, FY2021: 75.18%Gross margin, FY2022: 73.59%Gross margin, FY2023: 76.61%Gross margin, FY2024: 77.32%Gross margin, FY2025: 41.61%Operating margin, FY2021: 33.89%Operating margin, FY2022: 35.14%Operating margin, FY2023: 34.06%Operating margin, FY2024: 53.58%Operating margin, FY2025: 48.67%Net margin, FY2021: 10.29%Net margin, FY2022: 17.52%Net margin, FY2023: 18.51%Net margin, FY2024: 27.97%Net margin, FY2025: 37.43%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 75.18%. Gross margin FY2022 73.59%. Gross margin FY2023 76.61%. Gross margin FY2024 77.32%. Gross margin FY2025 41.61%. Operating margin FY2021 33.89%. Operating margin FY2022 35.14%. Operating margin FY2023 34.06%. Operating margin FY2024 53.58%. Operating margin FY2025 48.67%. Net margin FY2021 10.29%. Net margin FY2022 17.52%. Net margin FY2023 18.51%. Net margin FY2024 27.97%. Net margin FY2025 37.43%.

Income trends

Revenue

2.82B USD+5.06%

Operating income

1.37B USD-4.57%

Net income

1.05B USD+40.57%
Income trends across reported periods3.07B USD2.04B USD1.01B USD−20.13M USDRevenue, FY2021: 2.31B USDRevenue, FY2022: 2.63B USDRevenue, FY2023: 2.71B USDRevenue, FY2024: 2.68B USDRevenue, FY2025: 2.82B USDOperating income, FY2021: 782.5M USDOperating income, FY2022: 925.41M USDOperating income, FY2023: 923.66M USDOperating income, FY2024: 1.44B USDOperating income, FY2025: 1.37B USDNet income, FY2021: 237.62M USDNet income, FY2022: 461.43M USDNet income, FY2023: 501.81M USDNet income, FY2024: 749.54M USDNet income, FY2025: 1.05B USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 2.31B USD. Revenue FY2022 2.63B USD. Revenue FY2023 2.71B USD. Revenue FY2024 2.68B USD. Revenue FY2025 2.82B USD. Operating income FY2021 782.5M USD. Operating income FY2022 925.41M USD. Operating income FY2023 923.66M USD. Operating income FY2024 1.44B USD. Operating income FY2025 1.37B USD. Net income FY2021 237.62M USD. Net income FY2022 461.43M USD. Net income FY2023 501.81M USD. Net income FY2024 749.54M USD. Net income FY2025 1.05B USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue2.82B USD2.68B USD2.71B USD2.63B USD2.31B USD
Cost of goods sold1.64B USD607.67M USD634.29M USD695.46M USD573.11M USD
Gross profit1.17B USD2.07B USD2.08B USD1.94B USD1.74B USD
Selling, general, and administrative277.61M USD259.46M USD267.14M USD261.85M USD220.03M USD
Operating expenses−198.84M USD636.2M USD1.15B USD1.01B USD953.23M USD
Interest income31.68M USD41.96M USD18.31M USD10.13M USD3.45M USD
Interest expense467.91M USD————
Depreciation and amortization476.45M USD269.52M USD716.31M USD707.58M USD700.16M USD
Operating income1.37B USD1.44B USD923.66M USD925.41M USD782.5M USD
Net income1.05B USD749.54M USD501.81M USD461.43M USD237.62M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
36%
4 beats, 7 misses, 0 met estimates
Average EPS surprise
-11.99%
11 comparable reports
Latest EPS result
1.87
Estimate 1.85 · Beat by 1.08%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates4.073.192.311.43Q1 '25MissQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26MissQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 24, 2025: actual 1.61, estimate 2.08, surprise -22.60%, Miss. Q2 2025, reported Apr 28, 2025: actual 1.77, estimate 3.12, surprise -43.27%, Miss. Q3 2025, reported Aug 4, 2025: actual 2.09, estimate 3.12, surprise -33.01%, Miss. Q4 2025, reported Nov 3, 2025: actual 3.32, estimate 3.04, surprise +9.21%, Beat. Q1 2026, reported Feb 26, 2026: actual 3.47, estimate 3.89, surprise -10.80%, Miss. Q2 2026, reported Apr 29, 2026: actual 1.74, estimate 1.78, surprise -2.25%, Miss. Q3 2026, reported Aug 3, 2026: actual 1.87, estimate 1.85, surprise +1.08%, Beat. Q4 2026, reported Nov 2, 2026: actual —, estimate 2.07, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates761.62M718.76M675.89M633.03MQ1 '25BeatQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 24, 2025: actual 693.7M USD, estimate 682.31M USD, surprise +1.67%, Beat. Q2 2025, reported Apr 28, 2025: actual 664.25M USD, estimate 662.32M USD, surprise +0.29%, Beat. Q3 2025, reported Aug 4, 2025: actual 698.98M USD, estimate 700.96M USD, surprise -0.28%, Miss. Q4 2025, reported Nov 3, 2025: actual 732.33M USD, estimate 714.05M USD, surprise +2.56%, Beat. Q1 2026, reported Feb 26, 2026: actual 719.58M USD, estimate 725.8M USD, surprise -0.86%, Miss. Q2 2026, reported Apr 29, 2026: actual 703.44M USD, estimate 696.24M USD, surprise +1.03%, Beat. Q3 2026, reported Aug 3, 2026: actual 715.27M USD, estimate 706.01M USD, surprise +1.31%, Beat. Q4 2026, reported Nov 2, 2026: actual —, estimate 724.57M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$217.67

19.21% upside
Past 12 months12-month forecastHigh $238Average $217.67Low $205

Recent analyst actions

12 institutions

SBAC peers

Equinix, Inc. logo

EQIX

Equinix, Inc.

$1,065.39

—

Host Hotels & Resorts, Inc. logo

HST

Host Hotels & Resorts, Inc.

$23.21

—

Lamar Advertising Company logo

LAMR

Lamar Advertising Company

$150.77

—

Regency Centers Corporation logo

REG

Regency Centers Corporation

$76.06

—

CoStar Group, Inc. logo

CSGP

CoStar Group, Inc.

$32.26

—

AGNC Investment Corp. logo

AGNC

AGNC Investment Corp.

$10.89

—

ETFs holding SBAC

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Real Estate ETF logoVanguard Real Estate ETFVNQ
Market value
728.36M
Weight
0.99%
AUM
73.1B USD
Expense ratio
0.13%
Price / 1D
$98.50-0.10%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
611.44M
Weight
0.03%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
Vanguard S&P 500 ETF logoVanguard S&P 500 ETFVOO
Market value
503.85M
Weight
0.03%
AUM
1.7T USD
Expense ratio
0.03%
Price / 1D
$703.71+0.39%
Vanguard Morningstar Mid-Cap ETF logoVanguard Morningstar Mid-Cap ETFVO
Market value
415.43M
Weight
0.18%
AUM
224.7B USD
Expense ratio
0.03%
Price / 1D
$82.97+0.53%
Vanguard Morningstar Growth ETF logoVanguard Morningstar Growth ETFVUG
Market value
260.78M
Weight
0.07%
AUM
372B USD
Expense ratio
0.03%
Price / 1D
$87.50+0.38%
iShares Core S&P 500 ETF logoiShares Core S&P 500 ETFIVV
Market value
258.15M
Weight
0.03%
AUM
891.84B USD
Expense ratio
0.03%
Price / 1D
$769.31+0.39%
State Street SPDR S&P 500 ETF logoState Street SPDR S&P 500 ETFSPY
Market value
238.05M
Weight
0.03%
AUM
817.87B USD
Expense ratio
0.09%
Price / 1D
$765.72+0.41%
State Street Real Estate Select Sector SPDR ETF logoState Street Real Estate Select Sector SPDR ETFXLRE
Market value
164.21M
Weight
1.93%
AUM
8.49B USD
Expense ratio
0.08%
Price / 1D
$45.080.00%

Continue in GoAI

Research SBAC

research.disclaimer