SBA COMMUNICATIONS CORPORATION (SBAC)

189.44USD -1.09% (-2.08)

Over 1M: +3.6%

Style
Area Line Line with markers Steps Candles Hollow candles Bars

Candles and bars need the day’s open, high and low, and need room to be drawn in: past about a year of trading a body is thinner than a hairline, so those three offer the longest window that fits instead.

180 185 190
7 Aug 12 Aug 17 Aug 20 Aug 25 Aug 28 Aug 2 Sep

Financials Quarterly

Figures
Revenue Gross Profit Operating Income Cost of Revenue Operating Cash Flow Free Cash Flow Net Income

A share count and earnings a share are not here: neither is money, so neither can share this axis. Both have their own panel on All charts.

All charts ›
Q3 '23 — Cost of Revenue: 149.8M Q4 '23 — Cost of Revenue: 144.3M Q1 '24 — Cost of Revenue: 138M Q2 '24 — Cost of Revenue: 141.3M Q3 '24 — Cost of Revenue: 150.3M Q4 '24 — Cost of Revenue: 152.1M Q1 '25 — Cost of Revenue: 153.7M Q2 '25 — Cost of Revenue: 172.1M Q3 '25 — Cost of Revenue: 189.8M Q4 '25 — Cost of Revenue: 175.4M Q1 '26 — Cost of Revenue: 171.3M Q2 '26 — Cost of Revenue: 176M 0 40M 80M 120M 160M 200M
Q4 '23 Q2 '24 Q4 '24 Q2 '25 Q4 '25 Q2 '26
Cost of Revenue

How it scores

For a valuation multiple, the low end is the good end.

Quality

How much of the revenue is really kept — and what did it take to earn it?

7.6
Adj. EBITDA margin 61.7%
OE margin 33.7%
Oper. margin 47.6%
SBC / sales 2.9%
ROIC 9.5%
Accruals -2.5%
EBITDA margin 58.8%
FCF margin 36.6%
Gross margin 75.2%
OCF margin 44.7%
Profit margin 34.5%
ROA 8.4%
ROCE 18.5%
OCF / EBIT 0.94×
Asset turnover 0.24×
Capex / sales 8.1%
ROE —

5 of 17 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Valuation

What does the price ask for what the company earns, owns and pays out?

5.9
EV/EBIT 26.4×
EV/OE 37.3×
Shareholder yield 5.0%
Div. yield 2.5%
FCF yield 5.2%
P/E 20.3×
EV/GP 16.7×
EV/Sales 12.6×
P/C 56.5×
Fwd P/E —
P/B —
PEG —

2 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Durability

How predictable is the revenue, and how much of it is already committed?

5.2
Gross margin stability across years 1.2 pp
Cash-flow margin stability 3.6 pp
Revenue growth in the worst year on record -1.2%
RPO / sales 0.0016×
Prepaid revenue growth 74.8%
Segment HHI 0.51 HHI
RPO growth —

4 of 7 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Resilience

Can the balance sheet absorb a bad year?

1.6
ND/EBITDA -0.44
Interest cover 2.7×
Current ratio 0.17×
F-score 7.0 pts
Payout 51.0%
Cash / Debt 0.022×
Debt payback 15.2 yr
Quick ratio 0.17×
Cash runway —
Debt / Eq —
Equity / Assets —
Net debt / Eq —

3 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Growth

Is the business getting bigger, and is it getting more profitable?

3.6
Operating margin trend 3.6
Sales/sh Y/Y +5.9%
Sales CAGR 4Y +5.1%
Most recent margin move -2.1
EPS CAGR 4Y +46.3%
Shares change -0.51%
Div. growth +12.9%
EBIT CAGR +11.8%
EPS Y/Y +13.3%
EBIT Y/Y -4.2%
Gross profit Y/Y +1.3%
Sales Q/Q +2.3%
EPS next Y —

4 of 13 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

A measure absent from a block could not be computed from this company's filings. It is left out rather than scored as though it were bad, and the dimension is averaged over what remains. A score is measured against a fixed scale this model states; the bar is measured against the other companies, so the two can disagree — and where they do, that disagreement is the more interesting figure.