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SBA Communications (SBAC) | Financial Analysis & Statements

SBA Communications Corporation | Large-cap | Real Estate

$220.89

-1.26%

SBA Communications vs American Tower SBA Communications vs Equinix SBA Communications vs Digital Realty SBA Communications vs Crown Castle SBA Communications vs Iron Mountain SBA Communications vs S&P 500 | Market

TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Mar 2025

Income Metrics

Revenue 664.2M

Gross Profit 510.6M 76.87%

Operating Income 379.3M 57.10%

Net Income 217.9M 32.80%

EPS (Diluted) $1.77

Balance Sheet Metrics

Total Assets 10.4B

Total Liabilities 15.4B

Shareholders Equity -4.9B

Cash Flow Metrics

Operating Cash Flow 278.2M

Free Cash Flow 255.0M

Revenue & Profitability Trend

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This page uses interactive financial charts and dynamic data visualization tools that require JavaScript. For detailed financial analysis:

Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

SBA Communications Income Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Revenue i	2.7B	2.7B	2.6B	2.3B	2.1B
Cost of Goods Sold i	581.7M	612.6M	668.6M	545.5M	476.5M
Gross Profit i	2.1B	2.1B	2.0B	1.8B	1.6B
Gross Margin % i	78.3%	77.4%	74.6%	76.4%	77.1%
Operating Expenses
Research & Development i	-	-	-	-	-
Selling, General & Administrative i	258.8M	267.9M	261.9M	220.0M	194.3M
Other Operating Expenses i	-	-	-	1.9M	1.1M
Total Operating Expenses i	258.8M	267.9M	261.9M	221.9M	195.4M
Operating Income i	1.6B	1.1B	995.4M	843.2M	690.4M
Operating Margin % i	58.6%	41.1%	37.8%	36.5%	33.1%
Non-Operating Items
Interest Income i	42.0M	18.3M	10.1M	3.4M	3.0M
Interest Expense i	427.4M	436.2M	399.9M	400.0M	392.7M
Other Non-Operating Income	-390.2M	-128.0M	-59.9M	-174.5M	-298.3M
Pre-tax Income i	772.7M	548.5M	525.8M	252.6M	-17.7M
Income Tax i	24.0M	51.1M	66.0M	14.9M	-41.8M
Effective Tax Rate % i	3.1%	9.3%	12.6%	5.9%	0.0%
Net Income i	748.7M	497.4M	459.8M	237.6M	24.0M
Net Margin % i	27.9%	18.3%	17.5%	10.3%	1.2%
Key Metrics
EBITDA i	1.6B	1.9B	1.7B	1.5B	1.2B
EPS (Basic) i	$6.96	$4.64	$4.27	$2.17	$0.22
EPS (Diluted) i	$6.94	$4.61	$4.22	$2.14	$0.21
Basic Shares Outstanding i	107644000	108204000	107957000	109328000	111532000
Diluted Shares Outstanding i	107644000	108204000	107957000	109328000	111532000

Income Statement Trend

SBA Communications Balance Sheet From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Assets
Current Assets
Cash & Equivalents i	189.8M	208.5M	143.7M	367.3M	308.6M
Short-term Investments i	254.5M	1.0M	1.3M	778.0K	-
Accounts Receivable i	145.7M	182.7M	184.4M	102.0M	74.1M
Inventory i	-	-	-	-	-
Other Current Assets	22.8M	19.1M	13.4M	15.6M	12.6M
Total Current Assets i	2.0B	484.3M	482.7M	614.4M	473.0M
Non-Current Assets
Property, Plant & Equipment i	10.5B	10.5B	10.4B	9.4B	8.4B
Goodwill i	2.4B	2.5B	2.8B	2.8B	3.2B
Intangible Assets i	2.4B	2.5B	2.8B	2.8B	3.2B
Long-term Investments	50.6M	104.7M	182.9M	60.3M	12.1M
Other Non-Current Assets	526.4M	535.2M	458.9M	430.1M	402.4M
Total Non-Current Assets i	9.4B	9.7B	10.1B	9.2B	8.7B
Total Assets i	11.4B	10.2B	10.6B	9.8B	9.2B
Liabilities
Current Liabilities
Accounts Payable i	59.5M	42.2M	51.4M	34.1M	110.0M
Short-term Debt i	1.4B	916.6M	286.4M	262.5M	260.0M
Current Portion of Long-term Debt	-	-	-	-	-
Other Current Liabilities	17.9M	3.1M	12.9M	4.8M	14.3M
Total Current Liabilities i	1.8B	1.4B	696.8M	616.3M	614.8M
Non-Current Liabilities
Long-term Debt i	14.3B	13.5B	14.9B	14.3B	13.2B
Deferred Tax Liabilities i	-	-	-	-	-
Other Non-Current Liabilities	367.9M	404.2M	248.1M	191.5M	186.2M
Total Non-Current Liabilities i	14.7B	14.0B	15.1B	14.5B	13.4B
Total Liabilities i	16.5B	15.3B	15.8B	15.1B	14.0B
Equity
Common Stock i	1.1M	1.1M	1.1M	1.1M	1.1M
Retained Earnings i	-7.3B	-7.5B	-7.5B	-7.2B	-6.6B
Treasury Stock i	-	-	-	-	-
Other Equity	-	-	-	-	-
Total Shareholders Equity i	-5.1B	-5.1B	-5.2B	-5.3B	-4.8B
Key Metrics
Total Debt i	15.8B	14.5B	15.2B	14.5B	13.4B
Working Capital i	180.8M	-879.0M	-214.0M	-1.9M	-141.8M

Balance Sheet Composition

SBA Communications Cash Flow Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Operating Activities
Net Income i	748.7M	497.4M	459.8M	237.6M	24.0M
Depreciation & Amortization i	269.5M	716.3M	707.6M	700.2M	722.0M
Stock-Based Compensation i	74.4M	87.9M	99.9M	84.4M	68.9M
Working Capital Changes i	-119.2M	166.3M	-108.5M	-6.4M	156.0M
Operating Cash Flow i	1.3B	1.5B	1.2B	1.2B	1.2B
Investing Activities
Capital Expenditures i	-	-	-	-	-
Acquisitions i	-299.8M	-130.0M	-1.2B	-1.3B	-271.4M
Investment Purchases i	-1.8B	-1.3B	-881.8M	-1.7B	-1.3B
Investment Sales i	1.5B	1.3B	878.1M	1.7B	1.2B
Investing Cash Flow i	-581.2M	-231.5M	-1.2B	-1.3B	-317.8M
Financing Activities
Share Repurchases i	-200.0M	-100.0M	-431.7M	-582.6M	-859.3M
Dividends Paid i	-424.2M	-370.0M	-306.8M	-253.6M	-207.7M
Debt Issuance i	4.7B	190.0M	1.8B	6.3B	3.7B
Debt Repayment i	-3.5B	-730.0M	-1.2B	-5.2B	-3.0B
Financing Cash Flow i	609.8M	-1.1B	-173.8M	222.6M	-678.1M
Free Cash Flow i	1.1B	1.3B	1.1B	1.1B	997.5M
Net Change in Cash i	1.3B	198.3M	-105.9M	83.1M	180.1M

Cash Flow Trend

SBA Communications Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 27.03

Forward P/E 24.02

Price to Book -4.94

Price to Sales 8.68

PEG Ratio 0.71

Profitability Ratios

Profit Margin 32.25%

Operating Margin 54.18%

Return on Equity -14.83%

Return on Assets 9.30%

Financial Health

Current Ratio 0.36

Debt to Equity -3.04

Beta 0.77

Per Share Data

EPS (TTM) $8.15

Book Value per Share $-45.95

Revenue per Share $25.33

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
sbac	23.7B	27.03	-4.94	-14.83%	32.25%	-3.04
American Tower	96.8B	38.70	26.06	24.28%	12.60%	431.47
Equinix	75.7B	76.35	5.37	7.51%	11.13%	154.90
Digital Realty	57.3B	43.31	2.53	5.84%	24.32%	80.67
Crown Castle	44.3B	36.57	-32.24	-183.28%	-71.71%	-21.39
Iron Mountain	27.0B	654.00	-55.54	-79.54%	0.64%	-36.91

Financial data is updated regularly. All figures are in the company's reporting currency.