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SBA Communications Corporation (SBAC)
Real Estate · REIT - Specialty · NasdaqGS
SBA Communications Corporation revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.63B | $1.73B | $1.87B | $2.01B | $2.08B | $2.31B | $2.63B | $2.71B | $2.68B | $2.82B |
| Gross profit | $1.21B | $1.28B | $1.40B | $1.52B | $1.61B | $1.76B | $1.96B | $2.10B | $2.10B | $2.12B |
| Net income | $76.24M | $103.65M | $47.45M | $146.99M | $24.10M | $237.62M | $461.43M | $501.81M | $749.54M | $1.05B |
| Net margin | 4.7% | 6.0% | 2.5% | 7.3% | 1.2% | 10.3% | 17.5% | 18.5% | 28.0% | 37.4% |
Source: SBA Communications Corporation SEC filings (10-K). 18 years of history available in the interactive view.
What growth is priced into SBAC stock?
At today's market cap of $21.72B, SBA Communications Corporation is priced for free-cash-flow growth of about 8% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $1.07B from the FY ending 2025-12-31). For comparison, free cash flow actually grew 1.3%/yr over the last five fiscal years and revenue 6.2%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 18 years of SBA Communications Corporation financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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SBA Communications Corporation financial history by metric
About SBA Communications Corporation
SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure. It includes towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 46,000 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. SBA Communications Corporation was incorporated in 1989 and is based in Boca Raton, Florida.
SBA Communications Corporation — frequently asked questions
What is SBA Communications Corporation's revenue?
SBA Communications Corporation (SBAC) reported revenue of $2.82B for fiscal year 2025, up 5.1% from the prior year, according to its SEC filings.
Is SBA Communications Corporation profitable?
Yes. SBAC earned net income of $1.05B in fiscal 2025, a net margin of 37.4%.
What is SBAC's P/E ratio?
SBA Communications Corporation trades at a price-to-earnings ratio of about 21.6 based on the latest data in our nightly-refreshed cache.
How fast is SBA Communications Corporation growing?
SBAC's revenue grew at roughly 6.2% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does SBA Communications Corporation have?
As of fiscal year 2025, SBAC carried roughly $12.90B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is SBA Communications Corporation's gross margin?
SBAC's gross margin was 75.5% in fiscal 2025 — gross profit of $2.12B on revenue of $2.82B.
What is SBA Communications Corporation's market cap?
SBA Communications Corporation (SBAC) has a market capitalization of about $21.72B, based on the latest data in our nightly-refreshed cache.
When does SBA Communications Corporation's fiscal year end?
SBAC's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into SBAC stock?
At today's market cap of $21.72B, SBA Communications Corporation is priced for free-cash-flow growth of about 8% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $1.07B from the FY ending 2025-12-31). For comparison, free cash flow actually grew 1.3%/yr over the last five fiscal years and revenue 6.2%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from SBA Communications Corporation's official SEC filings (10-K and 10-Q), covering 18 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.