SBA COMMUNICATIONS CORP (SBAC) Fundamental Analysis & Valuation

NASDAQ:SBAC • US78410G1040

Current stock price

174.15 USD
-8.13 (-4.46%)
At close:
175.77 USD
+1.62 (+0.93%)
After Hours:

This SBAC fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. SBAC Profitability Analysis

1.1 Basic Checks

  • In the past year SBAC was profitable.
  • SBAC had a positive operating cash flow in the past year.
  • Each year in the past 5 years SBAC has been profitable.
  • Each year in the past 5 years SBAC had a positive operating cash flow.
SBAC Yearly Net Income VS EBIT VS OCF VS FCFSBAC Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 7.61%, SBAC belongs to the top of the industry, outperforming 89.29% of the companies in the same industry.
  • SBAC has a better Return On Invested Capital (14.82%) than 100.00% of its industry peers.
  • SBAC had an Average Return On Invested Capital over the past 3 years of 14.07%. This is significantly above the industry average of 5.05%.
  • The last Return On Invested Capital (14.82%) for SBAC is above the 3 year average (14.07%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 7.61%
ROE N/A
ROIC 14.82%
ROA(3y)6.87%
ROA(5y)5.48%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)14.07%
ROIC(5y)11.94%
SBAC Yearly ROA, ROE, ROICSBAC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 -20

1.3 Margins

  • With a decent Profit Margin value of 30.72%, SBAC is doing good in the industry, outperforming 75.00% of the companies in the same industry.
  • In the last couple of years the Profit Margin of SBAC has grown nicely.
  • With an excellent Operating Margin value of 56.42%, SBAC belongs to the best of the industry, outperforming 89.29% of the companies in the same industry.
  • SBAC's Operating Margin has improved in the last couple of years.
  • SBAC's Gross Margin of 76.06% is fine compared to the rest of the industry. SBAC outperforms 78.57% of its industry peers.
  • SBAC's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 56.42%
PM (TTM) 30.72%
GM 76.06%
OM growth 3Y13.46%
OM growth 5Y10.75%
PM growth 3Y28.79%
PM growth 5Y100.44%
GM growth 3Y0.38%
GM growth 5Y-0.44%
SBAC Yearly Profit, Operating, Gross MarginsSBAC Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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3

2. SBAC Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so SBAC is creating value.
  • Compared to 1 year ago, SBAC has less shares outstanding
  • The number of shares outstanding for SBAC has been reduced compared to 5 years ago.
  • SBAC has a better debt/assets ratio than last year.
SBAC Yearly Shares OutstandingSBAC Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
SBAC Yearly Total Debt VS Total AssetsSBAC Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

2.2 Solvency

  • SBAC has an Altman-Z score of 0.43. This is a bad value and indicates that SBAC is not financially healthy and even has some risk of bankruptcy.
  • SBAC has a worse Altman-Z score (0.43) than 75.00% of its industry peers.
  • SBAC has a debt to FCF ratio of 11.77. This is a negative value and a sign of low solvency as SBAC would need 11.77 years to pay back of all of its debts.
  • SBAC has a Debt to FCF ratio of 11.77. This is in the better half of the industry: SBAC outperforms 71.43% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 11.77
Altman-Z 0.43
ROIC/WACC1.82
WACC8.13%
SBAC Yearly LT Debt VS Equity VS FCFSBAC Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B -5B 10B

2.3 Liquidity

  • SBAC has a Current Ratio of 0.50. This is a bad value and indicates that SBAC is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Current ratio of SBAC (0.50) is worse than 60.71% of its industry peers.
  • SBAC has a Quick Ratio of 0.50. This is a bad value and indicates that SBAC is not financially healthy enough and could expect problems in meeting its short term obligations.
  • SBAC's Quick ratio of 0.50 is on the low side compared to the rest of the industry. SBAC is outperformed by 60.71% of its industry peers.
Industry RankSector Rank
Current Ratio 0.5
Quick Ratio 0.5
SBAC Yearly Current Assets VS Current LiabilitesSBAC Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B 2.5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. SBAC Growth Analysis

3.1 Past

  • SBAC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 37.32%, which is quite impressive.
  • SBAC shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 43.43% yearly.
  • SBAC shows a small growth in Revenue. In the last year, the Revenue has grown by 5.06%.
  • The Revenue has been growing slightly by 6.21% on average over the past years.
EPS 1Y (TTM)37.32%
EPS 3Y31.3%
EPS 5Y43.43%
EPS Q2Q%115.53%
Revenue 1Y (TTM)5.06%
Revenue growth 3Y2.25%
Revenue growth 5Y6.21%
Sales Q2Q%3.73%

3.2 Future

  • Based on estimates for the next years, SBAC will show a decrease in Earnings Per Share. The EPS will decrease by -2.25% on average per year.
  • SBAC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.65% yearly.
EPS Next Y-9.85%
EPS Next 2Y-1.58%
EPS Next 3Y4.03%
EPS Next 5Y-2.25%
Revenue Next Year1.01%
Revenue Next 2Y1.76%
Revenue Next 3Y2.73%
Revenue Next 5Y2.65%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
SBAC Yearly Revenue VS EstimatesSBAC Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 1B 2B 3B
SBAC Yearly EPS VS EstimatesSBAC Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 0 5 10

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5

4. SBAC Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 18.27, SBAC is valued on the expensive side.
  • 82.14% of the companies in the same industry are more expensive than SBAC, based on the Price/Earnings ratio.
  • Compared to an average S&P500 Price/Earnings ratio of 25.23, SBAC is valued a bit cheaper.
  • A Price/Forward Earnings ratio of 20.27 indicates a rather expensive valuation of SBAC.
  • 75.00% of the companies in the same industry are more expensive than SBAC, based on the Price/Forward Earnings ratio.
  • When comparing the Price/Forward Earnings ratio of SBAC to the average of the S&P500 Index (23.28), we can say SBAC is valued inline with the index average.
Industry RankSector Rank
PE 18.27
Fwd PE 20.27
SBAC Price Earnings VS Forward Price EarningsSBAC Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, SBAC is valued a bit cheaper than the industry average as 71.43% of the companies are valued more expensively.
  • 82.14% of the companies in the same industry are more expensive than SBAC, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 17.06
EV/EBITDA 17.05
SBAC Per share dataSBAC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 -40 -60

4.3 Compensation for Growth

  • SBAC has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.42
EPS Next 2Y-1.58%
EPS Next 3Y4.03%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. SBAC Dividend Analysis

5.1 Amount

  • SBAC has a Yearly Dividend Yield of 2.74%.
  • Compared to an average industry Dividend Yield of 5.49, SBAC's dividend is way lower than its industry peers. On top of this 82.14% of the companies listed in the same industry pay a better dividend than SBAC!
  • SBAC's Dividend Yield is a higher than the S&P500 average which is at 1.91.
Industry RankSector Rank
Dividend Yield 2.74%

5.2 History

  • On average, the dividend of SBAC grows each year by 19.15%, which is quite nice.
  • SBAC has been paying a dividend for over 5 years, so it has already some track record.
  • SBAC has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)19.15%
Div Incr Years5
Div Non Decr Years5
SBAC Yearly Dividends per shareSBAC Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3 4

5.3 Sustainability

  • SBAC pays out 54.40% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • The Dividend Rate of SBAC has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP54.4%
EPS Next 2Y-1.58%
EPS Next 3Y4.03%
SBAC Yearly Income VS Free CF VS DividendSBAC Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B
SBAC Dividend Payout.SBAC Dividend Payout, showing the Payout Ratio.SBAC Dividend Payout.PayoutRetained Earnings

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SBAC Fundamentals: All Metrics, Ratios and Statistics

SBA COMMUNICATIONS CORP

NASDAQ:SBAC (3/20/2026, 8:21:58 PM)

After market: 175.77 +1.62 (+0.93%)

174.15

-8.13 (-4.46%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)02-26
Earnings (Next)04-27
Inst Owners100.11%
Inst Owner Change-2.74%
Ins Owners0.71%
Ins Owner Change7.48%
Market Cap18.42B
Revenue(TTM)2.82B
Net Income(TTM)856.97M
Analysts75.2
Price Target231.35 (32.85%)
Short Float %2.42%
Short Ratio2.72
Dividend
Industry RankSector Rank
Dividend Yield 2.74%
Yearly Dividend4.49
Dividend Growth(5Y)19.15%
DP54.4%
Div Incr Years5
Div Non Decr Years5
Ex-Date03-13
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-2.52%
Min EPS beat(2)-3.21%
Max EPS beat(2)-1.82%
EPS beat(4)0
Avg EPS beat(4)-12.75%
Min EPS beat(4)-23.81%
Max EPS beat(4)-1.82%
EPS beat(8)2
Avg EPS beat(8)-11.06%
EPS beat(12)3
Avg EPS beat(12)-9.43%
EPS beat(16)4
Avg EPS beat(16)-7.32%
Revenue beat(2)2
Avg Revenue beat(2)1.18%
Min Revenue beat(2)0.25%
Max Revenue beat(2)2.11%
Revenue beat(4)2
Avg Revenue beat(4)0.13%
Min Revenue beat(4)-1.62%
Max Revenue beat(4)2.11%
Revenue beat(8)2
Avg Revenue beat(8)-1.39%
Revenue beat(12)2
Avg Revenue beat(12)-1.46%
Revenue beat(16)5
Avg Revenue beat(16)-0.9%
PT rev (1m)-0.52%
PT rev (3m)-2.66%
EPS NQ rev (1m)0%
EPS NQ rev (3m)6.46%
EPS NY rev (1m)-3.59%
EPS NY rev (3m)-4.64%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.08%
Revenue NY rev (1m)-0.34%
Revenue NY rev (3m)-0.78%
Valuation
Industry RankSector Rank
PE 18.27
Fwd PE 20.27
P/S 6.61
P/FCF 17.06
P/OCF 14.2
P/B N/A
P/tB N/A
EV/EBITDA 17.05
EPS(TTM)9.53
EY5.47%
EPS(NY)8.59
Fwd EY4.93%
FCF(TTM)10.21
FCFY5.86%
OCF(TTM)12.26
OCFY7.04%
SpS26.37
BVpS-46.64
TBVpS-72.4
PEG (NY)N/A
PEG (5Y)0.42
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA 7.61%
ROE N/A
ROCE 16.31%
ROIC 14.82%
ROICexc 15.52%
ROICexgc 22.03%
OM 56.42%
PM (TTM) 30.72%
GM 76.06%
FCFM 38.71%
ROA(3y)6.87%
ROA(5y)5.48%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)14.07%
ROIC(5y)11.94%
ROICexc(3y)14.56%
ROICexc(5y)12.33%
ROICexgc(3y)20.69%
ROICexgc(5y)17.56%
ROCE(3y)15.48%
ROCE(5y)13.14%
ROICexgc growth 3Y23.68%
ROICexgc growth 5Y14.74%
ROICexc growth 3Y20.79%
ROICexc growth 5Y16.52%
OM growth 3Y13.46%
OM growth 5Y10.75%
PM growth 3Y28.79%
PM growth 5Y100.44%
GM growth 3Y0.38%
GM growth 5Y-0.44%
F-Score7
Asset Turnover0.25
Health
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 11.77
Debt/EBITDA 6.45
Cap/Depr 78.58%
Cap/Sales 7.8%
Interest Coverage 3.49
Cash Conversion 70.11%
Profit Quality 126.01%
Current Ratio 0.5
Quick Ratio 0.5
Altman-Z 0.43
F-Score7
WACC8.13%
ROIC/WACC1.82
Cap/Depr(3y)64.87%
Cap/Depr(5y)48.8%
Cap/Sales(3y)8.41%
Cap/Sales(5y)7.83%
Profit Quality(3y)169.82%
Profit Quality(5y)237.24%
High Growth Momentum
Growth
EPS 1Y (TTM)37.32%
EPS 3Y31.3%
EPS 5Y43.43%
EPS Q2Q%115.53%
EPS Next Y-9.85%
EPS Next 2Y-1.58%
EPS Next 3Y4.03%
EPS Next 5Y-2.25%
Revenue 1Y (TTM)5.06%
Revenue growth 3Y2.25%
Revenue growth 5Y6.21%
Sales Q2Q%3.73%
Revenue Next Year1.01%
Revenue Next 2Y1.76%
Revenue Next 3Y2.73%
Revenue Next 5Y2.65%
EBIT growth 1Y8.35%
EBIT growth 3Y16.01%
EBIT growth 5Y17.62%
EBIT Next Year27.28%
EBIT Next 3Y11.35%
EBIT Next 5Y8.42%
FCF growth 1Y-11.63%
FCF growth 3Y-0.15%
FCF growth 5Y1.35%
OCF growth 1Y-10.97%
OCF growth 3Y0.15%
OCF growth 5Y2.78%

SBA COMMUNICATIONS CORP / SBAC Fundamental Analysis FAQ

What is the ChartMill fundamental rating of SBA COMMUNICATIONS CORP (SBAC) stock?

ChartMill assigns a fundamental rating of 5 / 10 to SBAC.


Can you provide the valuation status for SBA COMMUNICATIONS CORP?

ChartMill assigns a valuation rating of 5 / 10 to SBA COMMUNICATIONS CORP (SBAC). This can be considered as Fairly Valued.


Can you provide the profitability details for SBA COMMUNICATIONS CORP?

SBA COMMUNICATIONS CORP (SBAC) has a profitability rating of 8 / 10.


Can you provide the PE and PB ratios for SBAC stock?

The Price/Earnings (PE) ratio for SBA COMMUNICATIONS CORP (SBAC) is 18.27 and the Price/Book (PB) ratio is -3.73.


How sustainable is the dividend of SBA COMMUNICATIONS CORP (SBAC) stock?

The dividend rating of SBA COMMUNICATIONS CORP (SBAC) is 5 / 10 and the dividend payout ratio is 54.4%.