SBAC
SBA Communications Corporation
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Latest Quote
$189.66
| Previous Close | $190.95 |
| Open | $189.10 |
| Day High | $191.55 |
| Day Low | $187.93 |
| Volume | 900,943 |
Stock Information
| Quarterly Dividend / Yield | $5.00 / 2.62% |
| Shares Outstanding | 106.09M |
| Quarterly Dividend Yield | 2.62% |
| Quarterly Dividend | $5.00 |
| Total Debt | $15.21B |
| Cash Equivalents | $327.05M |
| Revenue | $2.87B |
| Net Income | $990.72M |
| Sector | Real Estate |
| Industry | REIT - Specialty |
| Market Cap | $20.12B |
| P/E Ratio | 20.62 |
| EPS (TTM) | $9.20 |
| Exchange | NMS |
Recent Price History
About SBA Communications Corporation
SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure, including tower structures, rooftops and other structures that support antennas used for wireless communications. In our site leasing business, we lease space to wireless service providers and other customers on assets we own or operate, and manage rooftop and tower sites for property owners under various contractual arrangements. As of December 31, 2025, we owned 46,328 towers, a substantial portion of which were built by us or by other tower owners or operators who, like us, build towers to lease space to multiple wireless service providers. As of December 31, 2025, each of our towers had an average of 1.8 tenants. SBA Communications Corporation was established in 1989 and was incorporated in Florida.
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Income Statement (Annual)
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Revenue | ||||
| Reconciled Cost Of Revenue | $690,972,000 | $581,727,000 | $612,622,000 | $668,650,000 |
| Cost Of Revenue | $690,972,000 | $581,727,000 | $612,622,000 | $668,650,000 |
| Total Revenue | $2,815,139,000 | $2,679,634,000 | $2,711,584,000 | $2,633,454,000 |
| Operating Revenue | $2,815,139,000 | $2,679,634,000 | $2,711,584,000 | $2,633,454,000 |
| Expenses | ||||
| Interest Expense | $476,767,000 | $427,439,000 | $436,241,000 | $399,893,000 |
| Total Expenses | $1,260,868,000 | $1,110,000,000 | $1,596,867,000 | $1,638,079,000 |
| Other Income Expense | $154,724,000 | $-390,226,000 | $-128,005,000 | $-59,937,000 |
| Other Non Operating Income Expenses | $366,209,000 | $-250,415,000 | $63,053,000 | $10,467,000 |
| Net Non Operating Interest Income Expense | $-466,957,000 | $-406,742,000 | $-438,209,000 | $-409,595,000 |
| Total Other Finance Cost | $21,866,000 | $21,265,000 | $20,273,000 | $19,835,000 |
| Interest Expense Non Operating | $476,767,000 | $427,439,000 | $436,241,000 | $399,893,000 |
| Operating Expense | $569,896,000 | $528,273,000 | $984,245,000 | $969,429,000 |
| Other Operating Expenses | - | - | - | - |
| Income & Earnings | ||||
| Net Income From Continuing Operation Net Minority Interest | $1,053,632,000 | $749,536,000 | $501,812,000 | $461,429,000 |
| Net Interest Income | $-466,957,000 | $-406,742,000 | $-438,209,000 | $-409,595,000 |
| Interest Income | $31,676,000 | $41,962,000 | $18,305,000 | $10,133,000 |
| Normalized Income | $1,233,182,765 | $885,006,281 | $675,074,708 | $522,990,509 |
| Net Income From Continuing And Discontinued Operation | $1,053,632,000 | $749,536,000 | $501,812,000 | $461,429,000 |
| Total Operating Income As Reported | $1,342,786,000 | $1,435,763,000 | $923,659,000 | $925,408,000 |
| Net Income Common Stockholders | $1,053,632,000 | $749,536,000 | $501,812,000 | $461,429,000 |
| Net Income | $1,053,632,000 | $749,536,000 | $501,812,000 | $461,429,000 |
| Net Income Including Noncontrolling Interests | $1,054,456,000 | $748,677,000 | $497,415,000 | $459,799,000 |
| Net Income Continuous Operations | $1,054,456,000 | $748,677,000 | $497,415,000 | $459,799,000 |
| Pretax Income | $1,242,038,000 | $772,666,000 | $548,503,000 | $525,843,000 |
| Interest Income Non Operating | $31,676,000 | $41,962,000 | $18,305,000 | $10,133,000 |
| Operating Income | $1,554,271,000 | $1,569,634,000 | $1,114,717,000 | $995,375,000 |
| Depreciation Amortization Depletion Income Statement | $292,285,000 | $269,517,000 | $716,309,000 | $707,576,000 |
| Depreciation And Amortization In Income Statement | $292,285,000 | $269,517,000 | $716,309,000 | $707,576,000 |
| Gross Profit | $2,124,167,000 | $2,097,907,000 | $2,098,962,000 | $1,964,804,000 |
| Per Share | ||||
| Diluted EPS | $9.80 | $6.94 | $4.61 | $4.22 |
| Basic EPS | $9.83 | $6.96 | $4.64 | $4.27 |
| Other | ||||
| Tax Effect Of Unusual Items | $-31,934,235 | $-4,340,719 | $-17,795,292 | $-8,842,491 |
| Tax Rate For Calcs | $0 | $0 | $0 | $0 |
| Normalized EBITDA (Bullshit earnings) | $2,222,575,000 | $1,609,433,000 | $1,892,111,000 | $1,703,716,000 |
| Total Unusual Items | $-211,485,000 | $-139,811,000 | $-191,058,000 | $-70,404,000 |
| Total Unusual Items Excluding Goodwill | $-211,485,000 | $-139,811,000 | $-191,058,000 | $-70,404,000 |
| Reconciled Depreciation | $292,285,000 | $269,517,000 | $716,309,000 | $707,576,000 |
| EBITDA (Bullshit earnings) | $2,011,090,000 | $1,469,622,000 | $1,701,053,000 | $1,633,312,000 |
| EBIT | $1,718,805,000 | $1,200,105,000 | $984,744,000 | $925,736,000 |
| Diluted Average Shares | $107,533,000 | $108,080,000 | $108,907,000 | $109,386,000 |
| Basic Average Shares | $107,207,000 | $107,644,000 | $108,204,000 | $107,957,000 |
| Diluted NI Availto Com Stockholders | $1,053,632,000 | $749,536,000 | $501,812,000 | $461,429,000 |
| Minority Interests | $-824,000 | $859,000 | $4,397,000 | $1,630,000 |
| Tax Provision | $187,582,000 | $23,989,000 | $51,088,000 | $66,044,000 |
| Write Off | $8,592,000 | $18,625,000 | $17,906,000 | $331,000 |
| Impairment Of Capital Assets | $175,573,000 | $89,300,000 | $151,481,000 | $42,829,000 |
| Restructuring And Mergern Acquisition | $27,320,000 | $25,946,000 | $21,671,000 | $26,807,000 |
| Selling General And Administration | $277,611,000 | $258,756,000 | $267,936,000 | $261,853,000 |
| Other Special Charges | - | $5,940,000 | - | $437,000 |
Balance Sheet (Annual)
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Assets | ||||
| Net Tangible Assets | $-7,735,636,000 | $-7,498,645,000 | $-7,626,479,000 | $-8,052,787,000 |
| Total Assets | $11,575,012,000 | $11,417,336,000 | $10,178,441,000 | $10,585,041,000 |
| Total Non Current Assets | $10,801,581,000 | $9,438,616,000 | $9,694,174,000 | $10,102,308,000 |
| Other Non Current Assets | $150,524,000 | $46,021,000 | $43,872,000 | $46,337,000 |
| Non Current Deferred Assets | $45,683,000 | $62,810,000 | $76,186,000 | $23,920,000 |
| Non Current Deferred Taxes Assets | $35,716,000 | $53,974,000 | $67,473,000 | $16,173,000 |
| Non Current Note Receivables | $3,661,000 | $59,326,000 | $148,104,000 | $39,922,000 |
| Non Current Accounts Receivable | $424,627,000 | $417,572,000 | $415,100,000 | $388,638,000 |
| Financial Assets | $6,445,000 | $50,589,000 | $104,674,000 | $182,860,000 |
| Goodwill And Other Intangible Assets | $2,882,117,000 | $2,388,707,000 | $2,455,597,000 | $2,776,472,000 |
| Other Intangible Assets | $2,882,117,000 | $2,388,707,000 | $2,455,597,000 | $2,776,472,000 |
| Current Assets | $773,431,000 | $1,978,720,000 | $484,267,000 | $482,733,000 |
| Other Current Assets | $34,698,000 | $22,757,000 | $16,599,000 | $13,450,000 |
| Restricted Cash | $167,804,000 | $1,206,653,000 | $38,129,000 | $41,959,000 |
| Prepaid Assets | $35,915,000 | $20,402,000 | $17,820,000 | $17,839,000 |
| Receivables | $263,798,000 | $284,533,000 | $202,126,000 | $264,446,000 |
| Other Receivables | $28,152,000 | $19,198,000 | $16,252,000 | $79,549,000 |
| Accrued Interest Receivable | $611,000 | $4,359,000 | $2,102,000 | $529,000 |
| Loans Receivable | $63,779,000 | $115,281,000 | $1,026,000 | - |
| Accounts Receivable | $171,256,000 | $145,695,000 | $182,746,000 | $184,368,000 |
| Allowance For Doubtful Accounts Receivable | $-18,784,000 | $-14,687,000 | $-12,838,000 | $-9,166,000 |
| Gross Accounts Receivable | $190,040,000 | $160,382,000 | $195,584,000 | $193,534,000 |
| Cash Cash Equivalents And Short Term Investments | $271,216,000 | $444,375,000 | $209,593,000 | $145,039,000 |
| Cash And Cash Equivalents | $264,568,000 | $189,841,000 | $208,547,000 | $143,708,000 |
| Debt | ||||
| Net Debt | $12,635,700,000 | $13,401,897,000 | $12,115,768,000 | $12,724,454,000 |
| Total Debt | $15,319,130,000 | $15,756,194,000 | $14,463,465,000 | $15,171,155,000 |
| Long Term Debt And Capital Lease Obligation | $13,083,724,000 | $14,307,264,000 | $13,546,856,000 | $14,884,790,000 |
| Long Term Debt | $10,964,466,000 | $12,403,825,000 | $11,681,170,000 | $12,844,162,000 |
| Current Debt And Capital Lease Obligation | $2,235,406,000 | $1,448,930,000 | $916,609,000 | $286,365,000 |
| Current Debt | $1,935,802,000 | $1,187,913,000 | $643,145,000 | $24,000,000 |
| Other Current Borrowings | $1,935,802,000 | $1,187,913,000 | $643,145,000 | $24,000,000 |
| Liabilities | ||||
| Total Liabilities Net Minority Interest | $16,350,269,000 | $16,473,142,000 | $15,314,276,000 | $15,829,621,000 |
| Total Non Current Liabilities Net Minority Interest | $13,671,968,000 | $14,675,206,000 | $13,951,017,000 | $15,132,857,000 |
| Other Non Current Liabilities | $588,244,000 | $367,942,000 | $404,161,000 | $248,067,000 |
| Current Liabilities | $2,678,301,000 | $1,797,936,000 | $1,363,259,000 | $696,764,000 |
| Other Current Liabilities | $94,014,000 | $17,933,000 | $18,662,000 | $12,930,000 |
| Current Deferred Liabilities | $117,309,000 | $127,308,000 | $235,668,000 | $179,744,000 |
| Payables And Accrued Expenses | $231,572,000 | $203,765,000 | $192,320,000 | $217,725,000 |
| Interest Payable | $65,036,000 | $62,239,000 | $57,496,000 | $54,173,000 |
| Payables | $80,630,000 | $66,753,000 | $49,351,000 | $70,490,000 |
| Total Tax Payable | $7,596,000 | $7,204,000 | $7,149,000 | $19,063,000 |
| Accounts Payable | $73,034,000 | $59,549,000 | $42,202,000 | $51,427,000 |
| Equity | ||||
| Common Stock Equity | $-4,853,519,000 | $-5,109,938,000 | $-5,170,882,000 | $-5,276,315,000 |
| Total Equity Gross Minority Interest | $-4,775,257,000 | $-5,055,806,000 | $-5,135,835,000 | $-5,244,580,000 |
| Stockholders Equity | $-4,853,519,000 | $-5,109,938,000 | $-5,170,882,000 | $-5,276,315,000 |
| Gains Losses Not Affecting Retained Earnings | $-664,098,000 | $-760,280,000 | $-615,198,000 | $-590,510,000 |
| Other Equity Adjustments | $-664,098,000 | $-760,280,000 | $-615,198,000 | $-590,510,000 |
| Retained Earnings | $-7,249,905,000 | $-7,326,189,000 | $-7,450,824,000 | $-7,482,061,000 |
| Preferred Securities Outside Stock Equity | - | - | - | - |
| Other | ||||
| Ordinary Shares Number | $105,666,000 | $107,561,000 | $108,050,000 | $107,997,000 |
| Share Issued | $105,666,000 | $107,561,000 | $108,050,000 | $107,997,000 |
| Tangible Book Value | $-7,735,636,000 | $-7,498,645,000 | $-7,626,479,000 | $-8,052,787,000 |
| Invested Capital | $8,046,749,000 | $8,481,800,000 | $7,153,433,000 | $7,591,847,000 |
| Working Capital | $-1,904,870,000 | $180,784,000 | $-878,992,000 | $-214,031,000 |
| Capital Lease Obligations | $2,418,862,000 | $2,164,456,000 | $2,139,150,000 | $2,302,993,000 |
| Total Capitalization | $6,110,947,000 | $7,293,887,000 | $6,510,288,000 | $7,567,847,000 |
| Minority Interest | $78,262,000 | $54,132,000 | $35,047,000 | $31,735,000 |
| Additional Paid In Capital | $3,059,427,000 | $2,975,455,000 | $2,894,060,000 | $2,795,176,000 |
| Capital Stock | $1,057,000 | $1,076,000 | $1,080,000 | $1,080,000 |
| Common Stock | $1,057,000 | $1,076,000 | $1,080,000 | $1,080,000 |
| Preferred Stock | $0 | $0 | $0 | $0 |
| Long Term Capital Lease Obligation | $2,119,258,000 | $1,903,439,000 | $1,865,686,000 | $2,040,628,000 |
| Current Deferred Revenue | $117,309,000 | $127,308,000 | $235,668,000 | $179,744,000 |
| Current Capital Lease Obligation | $299,604,000 | $261,017,000 | $273,464,000 | $262,365,000 |
| Current Accrued Expenses | $150,942,000 | $137,012,000 | $142,969,000 | $147,235,000 |
| Investments And Advances | $21,053,000 | $20,779,000 | $24,540,000 | $40,696,000 |
| Net PPE | $7,267,471,000 | $6,392,812,000 | $6,426,101,000 | $6,603,463,000 |
| Accumulated Depreciation | $-4,360,762,000 | $-4,280,092,000 | $-4,247,782,000 | $-3,971,435,000 |
| Gross PPE | $11,628,233,000 | $10,672,904,000 | $10,673,883,000 | $10,574,898,000 |
| Construction In Progress | $72,794,000 | $72,202,000 | $105,627,000 | $77,564,000 |
| Other Properties | $10,472,436,000 | $9,502,820,000 | $9,550,867,000 | $9,540,638,000 |
| Machinery Furniture Equipment | $97,984,000 | $84,629,000 | $76,031,000 | $67,403,000 |
| Properties | $985,019,000 | $1,013,253,000 | $941,358,000 | $889,293,000 |
| Other Short Term Investments | $6,648,000 | $254,534,000 | $1,046,000 | $1,331,000 |
Cash Flow Statement (Annual)
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Free Cash Flow | ||||
| Free Cash Flow | $1,066,509,000 | $1,106,717,000 | $1,307,695,000 | $1,071,257,000 |
| Operating Activities | ||||
| Operating Cash Flow | $1,291,328,000 | $1,334,866,000 | $1,544,393,000 | $1,285,700,000 |
| Cash Flow From Continuing Operating Activities | $1,291,328,000 | $1,334,866,000 | $1,544,393,000 | $1,285,700,000 |
| Operating Gains Losses | $-208,399,000 | $6,650,000 | $7,617,000 | $437,000 |
| Investing Activities | ||||
| Capital Expenditure | $-224,819,000 | $-228,149,000 | $-236,698,000 | $-214,443,000 |
| Investing Cash Flow | $-601,829,000 | $-809,310,000 | $-468,246,000 | $-1,393,654,000 |
| Cash Flow From Continuing Investing Activities | $-601,829,000 | $-809,310,000 | $-468,246,000 | $-1,393,654,000 |
| Net Other Investing Changes | $443,868,000 | $-17,417,000 | $-100,915,000 | $524,000 |
| Capital Expenditure Reported | $-224,819,000 | $-228,149,000 | $-236,698,000 | $-214,443,000 |
| Financing Activities | ||||
| Repurchase Of Capital Stock | $-497,805,000 | $-200,019,000 | $-100,010,000 | $-431,666,000 |
| Financing Cash Flow | $-1,663,575,000 | $645,742,000 | $-1,017,218,000 | $-135,474,000 |
| Cash Flow From Continuing Financing Activities | $-1,663,575,000 | $645,742,000 | $-1,017,218,000 | $-135,474,000 |
| Net Other Financing Charges | $-29,312,000 | $-6,222,000 | $-27,444,000 | $18,770,000 |
| Cash Dividends Paid | $-479,012,000 | $-424,191,000 | $-369,960,000 | $-306,766,000 |
| Common Stock Dividend Paid | $-479,012,000 | $-424,191,000 | $-369,960,000 | $-306,766,000 |
| Net Common Stock Issuance | $-497,805,000 | $-200,019,000 | $-100,010,000 | $-431,666,000 |
| Other | ||||
| Repayment Of Debt | $-1,408,000,000 | $-3,462,513,000 | $-754,000,000 | $-1,269,000,000 |
| Issuance Of Debt | $695,000,000 | $4,702,701,000 | $190,000,000 | $1,814,885,000 |
| Interest Paid Supplemental Data | $467,404,000 | $395,112,000 | $396,593,000 | $347,659,000 |
| Income Tax Paid Supplemental Data | $52,775,000 | $42,415,000 | $25,581,000 | $32,320,000 |
| End Cash Position | $437,021,000 | $1,400,657,000 | $250,946,000 | $189,283,000 |
| Beginning Cash Position | $1,400,657,000 | $250,946,000 | $189,283,000 | $435,626,000 |
| Effect Of Exchange Rate Changes | $10,440,000 | $-21,587,000 | $2,734,000 | $-2,915,000 |
| Changes In Cash | $-974,076,000 | $1,171,298,000 | $58,929,000 | $-243,428,000 |
| Proceeds From Stock Option Exercised | $55,554,000 | $35,986,000 | $44,196,000 | $38,303,000 |
| Common Stock Payments | $-497,805,000 | $-200,019,000 | $-100,010,000 | $-431,666,000 |
| Net Issuance Payments Of Debt | $-713,000,000 | $1,240,188,000 | $-564,000,000 | $545,885,000 |
| Net Long Term Debt Issuance | $-713,000,000 | $1,240,188,000 | $-564,000,000 | $545,885,000 |
| Long Term Debt Payments | $-1,408,000,000 | $-3,462,513,000 | $-754,000,000 | $-1,269,000,000 |
| Long Term Debt Issuance | $695,000,000 | $4,702,701,000 | $190,000,000 | $1,814,885,000 |
| Net Investment Purchase And Sale | $237,950,000 | $-263,933,000 | $-672,000 | $-3,643,000 |
| Sale Of Investment | $1,404,262,000 | $1,536,750,000 | $1,338,354,000 | $878,138,000 |
| Purchase Of Investment | $-1,166,312,000 | $-1,800,683,000 | $-1,339,026,000 | $-881,781,000 |
| Net Business Purchase And Sale | $-1,058,828,000 | $-299,811,000 | $-129,961,000 | $-1,176,092,000 |
| Purchase Of Business | $-1,058,828,000 | $-299,811,000 | $-129,961,000 | $-1,176,092,000 |
| Change In Working Capital | $-179,626,000 | $-143,056,000 | $64,470,000 | $-113,120,000 |
| Change In Other Current Liabilities | $-162,368,000 | $-264,465,000 | $-19,208,000 | $-162,614,000 |
| Change In Other Current Assets | $129,935,000 | $127,182,000 | $141,114,000 | $135,473,000 |
| Change In Payables And Accrued Expense | $-17,516,000 | $-4,402,000 | $-66,324,000 | $25,118,000 |
| Change In Prepaid Assets | $-73,430,000 | $-19,480,000 | $-35,498,000 | $-29,746,000 |
| Change In Receivables | $-56,247,000 | $18,109,000 | $44,386,000 | $-81,351,000 |
| Other Non Cash Items | $-21,658,000 | $300,512,000 | $11,087,000 | $55,391,000 |
| Stock Based Compensation | $75,734,000 | $74,374,000 | $87,919,000 | $99,909,000 |
| Asset Impairment Charge | $174,085,000 | $91,279,000 | $154,947,000 | $42,807,000 |
| Deferred Tax | $104,451,000 | $-13,087,000 | $4,629,000 | $32,901,000 |
| Deferred Income Tax | $104,451,000 | $-13,087,000 | $4,629,000 | $32,901,000 |
| Depreciation Amortization Depletion | $292,285,000 | $269,517,000 | $716,309,000 | $707,576,000 |
| Depreciation And Amortization | $292,285,000 | $269,517,000 | $716,309,000 | $707,576,000 |
| Depreciation | $292,285,000 | $269,517,000 | $716,309,000 | $707,576,000 |
| Net Income From Continuing Operations | $1,054,456,000 | $748,677,000 | $497,415,000 | $459,799,000 |
| Net Short Term Debt Issuance | - | - | - | - |
| Short Term Debt Payments | - | - | - | - |
| Short Term Debt Issuance | - | - | - | - |