SBA COMMUNICATIONS CORP (SBAC) Fundamental Analysis & Valuation

NASDAQ:SBAC • US78410G1040

Current stock price

215 USD
-4.47 (-2.04%)
At close:
214.79 USD
-0.21 (-0.1%)
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

  • SBAC had positive earnings in the past year.
  • In the past year SBAC had a positive cash flow from operations.
  • In the past 5 years SBAC has always been profitable.
  • SBAC had a positive operating cash flow in each of the past 5 years.
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

  • SBAC has a better Return On Assets (9.10%) than 96.43% of its industry peers.
  • SBAC has a Return On Invested Capital of 15.88%. This is amongst the best in the industry. SBAC outperforms 100.00% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for SBAC is significantly above the industry average of 5.10%.
  • The last Return On Invested Capital (15.88%) for SBAC is above the 3 year average (14.07%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 9.1%
ROE N/A
ROIC 15.88%
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

  • SBAC has a better Profit Margin (37.43%) than 82.14% of its industry peers.
  • In the last couple of years the Profit Margin of SBAC has grown nicely.
  • The Operating Margin of SBAC (55.21%) is better than 85.71% of its industry peers.
  • In the last couple of years the Operating Margin of SBAC has grown nicely.
  • SBAC's Gross Margin of 75.46% is fine compared to the rest of the industry. SBAC outperforms 78.57% of its industry peers.
  • In the last couple of years the Gross Margin of SBAC has remained more or less at the same level.
Industry RankSector Rank
OM 55.21%
PM (TTM) 37.43%
GM 75.46%
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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2

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.
  • Compared to 1 year ago, SBAC has an improved debt to assets ratio.
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 0.46. 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 (0.46) than 78.57% of its industry peers.
  • SBAC has a debt to FCF ratio of 1679.50. This is a negative value and a sign of low solvency as SBAC would need 1679.50 years to pay back of all of its debts.
  • SBAC has a Debt to FCF ratio (1679.50) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 1679.5
Altman-Z 0.46
ROIC/WACC2.07
WACC7.67%
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

  • A Current Ratio of 0.29 indicates that SBAC may have some problems paying its short term obligations.
  • SBAC has a Current ratio of 0.29. This is in the lower half of the industry: SBAC underperforms 75.00% of its industry peers.
  • A Quick Ratio of 0.29 indicates that SBAC may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.29, SBAC is doing worse than 75.00% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.29
Quick Ratio 0.29
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.
  • Measured over the past years, SBAC shows a very strong growth in Earnings Per Share. The EPS has been growing by 43.43% on average per year.
  • The Revenue has been growing slightly by 5.06% in the past year.
  • SBAC shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.21% yearly.
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

  • SBAC is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -2.25% yearly.
  • SBAC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.22% yearly.
EPS Next Y-17.69%
EPS Next 2Y-4.95%
EPS Next 3Y0.41%
EPS Next 5Y-2.25%
Revenue Next Year0.56%
Revenue Next 2Y1.65%
Revenue Next 3Y2.32%
Revenue Next 5Y3.22%

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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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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3

4. SBAC Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 22.56 indicates a rather expensive valuation of SBAC.
  • 78.57% of the companies in the same industry are more expensive than SBAC, based on the Price/Earnings ratio.
  • When comparing the Price/Earnings ratio of SBAC to the average of the S&P500 Index (27.35), we can say SBAC is valued inline with the index average.
  • SBAC is valuated quite expensively with a Price/Forward Earnings ratio of 27.41.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of SBAC indicates a somewhat cheap valuation: SBAC is cheaper than 67.86% of the companies listed in the same industry.
  • SBAC is valuated rather expensively when we compare the Price/Forward Earnings ratio to 22.23, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 22.56
Fwd PE 27.41
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

  • SBAC's Enterprise Value to EBITDA ratio is in line with the industry average.
  • SBAC's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 2968.74
EV/EBITDA 19.44
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

  • The excellent profitability rating of SBAC may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.52
EPS Next 2Y-4.95%
EPS Next 3Y0.41%

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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 2.28%. Purely for dividend investing, there may be better candidates out there.
  • With a Dividend Yield of 2.28, SBAC pays less dividend than the industry average, which is at 4.25. 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 1.82.
Industry RankSector Rank
Dividend Yield 2.28%

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.
  • As SBAC did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)19.15%
Div Incr Years6
Div Non Decr Years6
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

  • 45.46% of the earnings are spent on dividend by SBAC. This is a bit on the high side, but may be sustainable.
DP45.46%
EPS Next 2Y-4.95%
EPS Next 3Y0.41%
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 (4/27/2026, 6:10:40 PM)

After market: 214.79 -0.21 (-0.1%)

215

-4.47 (-2.04%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)02-26
Earnings (Next)04-29
Inst Owners100.01%
Inst Owner Change0.34%
Ins Owners0.71%
Ins Owner Change7.49%
Market Cap22.80B
Revenue(TTM)2.82B
Net Income(TTM)1.05B
Analysts75.2
Price Target231.54 (7.69%)
Short Float %2.65%
Short Ratio2.18
Dividend
Industry RankSector Rank
Dividend Yield 2.28%
Yearly Dividend4.49
Dividend Growth(5Y)19.15%
DP45.46%
Div Incr Years6
Div Non Decr Years6
Ex-Date03-13
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-6.06%
Min EPS beat(2)-10.29%
Max EPS beat(2)-1.82%
EPS beat(4)0
Avg EPS beat(4)-9.37%
Min EPS beat(4)-22.17%
Max EPS beat(4)-1.82%
EPS beat(8)2
Avg EPS beat(8)-8.87%
EPS beat(12)3
Avg EPS beat(12)-8.99%
EPS beat(16)4
Avg EPS beat(16)-5.64%
Revenue beat(2)1
Avg Revenue beat(2)-1.3%
Min Revenue beat(2)-2.85%
Max Revenue beat(2)0.25%
Revenue beat(4)2
Avg Revenue beat(4)-0.53%
Min Revenue beat(4)-2.85%
Max Revenue beat(4)2.11%
Revenue beat(8)2
Avg Revenue beat(8)-1.37%
Revenue beat(12)2
Avg Revenue beat(12)-1.6%
Revenue beat(16)5
Avg Revenue beat(16)-1%
PT rev (1m)0.08%
PT rev (3m)-2.05%
EPS NQ rev (1m)-3.59%
EPS NQ rev (3m)-14.44%
EPS NY rev (1m)-8.69%
EPS NY rev (3m)-12.61%
Revenue NQ rev (1m)-0.89%
Revenue NQ rev (3m)-1.41%
Revenue NY rev (1m)-0.17%
Revenue NY rev (3m)-1.03%
Valuation
Industry RankSector Rank
PE 22.56
Fwd PE 27.41
P/S 8.1
P/FCF 2968.74
P/OCF 17.66
P/B N/A
P/tB N/A
EV/EBITDA 19.44
EPS(TTM)9.53
EY4.43%
EPS(NY)7.84
Fwd EY3.65%
FCF(TTM)0.07
FCFY0.03%
OCF(TTM)12.18
OCFY5.66%
SpS26.54
BVpS-45.76
TBVpS-72.94
PEG (NY)N/A
PEG (5Y)0.52
Graham Number0 (-100%)
Profitability
Industry RankSector Rank
ROA 9.1%
ROE N/A
ROCE 17.47%
ROIC 15.88%
ROICexc 16.38%
ROICexgc 24.6%
OM 55.21%
PM (TTM) 37.43%
GM 75.46%
FCFM 0.27%
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)14.57%
ROICexc(5y)12.34%
ROICexgc(3y)20.7%
ROICexgc(5y)17.56%
ROCE(3y)15.48%
ROCE(5y)13.14%
ROICexgc growth 3Y23.73%
ROICexgc growth 5Y14.76%
ROICexc growth 3Y20.82%
ROICexc growth 5Y16.54%
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 Turnover0.24
Health
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 1679.5
Debt/EBITDA 5.94
Cap/Depr 439.18%
Cap/Sales 45.6%
Interest Coverage 3.33
Cash Conversion 69.93%
Profit Quality 0.73%
Current Ratio 0.29
Quick Ratio 0.29
Altman-Z 0.46
F-Score7
WACC7.67%
ROIC/WACC2.07
Cap/Depr(3y)228.75%
Cap/Depr(5y)147.13%
Cap/Sales(3y)26.27%
Cap/Sales(5y)18.55%
Profit Quality(3y)114.36%
Profit Quality(5y)203.96%
High Growth Momentum
Growth
EPS 1Y (TTM)37.32%
EPS 3Y31.3%
EPS 5Y43.43%
EPS Q2Q%115.53%
EPS Next Y-17.69%
EPS Next 2Y-4.95%
EPS Next 3Y0.41%
EPS Next 5Y-2.25%
Revenue 1Y (TTM)5.06%
Revenue growth 3Y2.25%
Revenue growth 5Y6.21%
Sales Q2Q%3.73%
Revenue Next Year0.56%
Revenue Next 2Y1.65%
Revenue Next 3Y2.32%
Revenue Next 5Y3.22%
EBIT growth 1Y-0.98%
EBIT growth 3Y16.01%
EBIT growth 5Y17.62%
EBIT Next Year26.25%
EBIT Next 3Y10.69%
EBIT Next 5Y8.69%
FCF growth 1Y-99.05%
FCF growth 3Y-80.72%
FCF growth 5Y-62.22%
OCF growth 1Y-3.26%
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 3 / 10 to SBA COMMUNICATIONS CORP (SBAC). This can be considered as Overvalued.


What is the profitability of SBAC stock?

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 22.56 and the Price/Book (PB) ratio is -4.7.


How financially healthy is SBA COMMUNICATIONS CORP?

The financial health rating of SBA COMMUNICATIONS CORP (SBAC) is 2 / 10.