SBA COMMUNICATIONS CORP (SBAC) Stock Fundamental Analysis
USA - NASDAQ:SBAC - US78410G1040 - REIT
196.92 USD
-3.05 (-1.53%)
Overall SBAC gets a fundamental rating of 5 out of 10. We evaluated SBAC against 29 industry peers in the Specialized REITs industry. SBAC scores excellent on profitability, but there are concerns on its financial health. SBAC has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year SBAC was profitable.
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.
1.2 Ratios
With an excellent Return On Assets value of 8.16%, SBAC belongs to the best of the industry, outperforming 93.10% of the companies in the same industry.
The Return On Invested Capital of SBAC (13.27%) is better than 100.00% of its industry peers.
SBAC had an Average Return On Invested Capital over the past 3 years of 10.28%. This is significantly above the industry average of 4.79%.
The last Return On Invested Capital (13.27%) for SBAC is above the 3 year average (10.28%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.16% | ||
| ROE | N/A | ||
| ROIC | 13.27% |
ROA(3y)5.28%
ROA(5y)3.71%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)10.28%
ROIC(5y)8.89%
1.3 Margins
SBAC has a better Profit Margin (32.25%) than 75.86% of its industry peers.
SBAC's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 57.54%, SBAC belongs to the top of the industry, outperforming 89.66% of the companies in the same industry.
SBAC's Operating Margin has improved in the last couple of years.
SBAC has a Gross Margin of 76.94%. This is in the better half of the industry: SBAC outperforms 65.52% 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 Rank | Sector Rank | ||
|---|---|---|---|
| OM | 57.54% | ||
| PM (TTM) | 32.25% | ||
| GM | 76.94% |
OM growth 3Y17.06%
OM growth 5Y13.31%
PM growth 3Y39.56%
PM growth 5Y30.83%
GM growth 3Y0.83%
GM growth 5Y0.72%
2. Health
2.1 Basic Checks
SBAC has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
The number of shares outstanding for SBAC has been reduced compared to 1 year ago.
Compared to 5 years ago, SBAC has less shares outstanding
Compared to 1 year ago, SBAC has an improved debt to assets ratio.
2.2 Solvency
SBAC has an Altman-Z score of 0.51. This is a bad value and indicates that SBAC is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.51, SBAC is doing worse than 75.86% of the companies in the same industry.
The Debt to FCF ratio of SBAC is 11.78, which is on the high side as it means it would take SBAC, 11.78 years of fcf income to pay off all of its debts.
With a decent Debt to FCF ratio value of 11.78, SBAC is doing good in the industry, outperforming 65.52% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | N/A | ||
| Debt/FCF | 11.78 | ||
| Altman-Z | 0.51 |
ROIC/WACC1.9
WACC6.98%
2.3 Liquidity
A Current Ratio of 0.37 indicates that SBAC may have some problems paying its short term obligations.
SBAC's Current ratio of 0.37 is on the low side compared to the rest of the industry. SBAC is outperformed by 75.86% of its industry peers.
SBAC has a Quick Ratio of 0.37. 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 has a Quick ratio of 0.37. This is in the lower half of the industry: SBAC underperforms 75.86% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.37 | ||
| Quick Ratio | 0.37 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 66.03% over the past year.
The Earnings Per Share has been growing by 40.01% on average over the past years. This is a very strong growth
SBAC shows a small growth in Revenue. In the last year, the Revenue has grown by 1.82%.
The Revenue has been growing slightly by 5.87% on average over the past years.
EPS 1Y (TTM)66.03%
EPS 3Y48.25%
EPS 5Y40.01%
EPS Q2Q%38.41%
Revenue 1Y (TTM)1.82%
Revenue growth 3Y5.09%
Revenue growth 5Y5.87%
Sales Q2Q%5.83%
3.2 Future
The Earnings Per Share is expected to grow by 13.19% on average over the next years. This is quite good.
Based on estimates for the next years, SBAC will show a small growth in Revenue. The Revenue will grow by 4.24% on average per year.
EPS Next Y23.64%
EPS Next 2Y15.41%
EPS Next 3Y11.53%
EPS Next 5Y13.19%
Revenue Next Year5%
Revenue Next 2Y3.98%
Revenue Next 3Y3.68%
Revenue Next 5Y4.24%
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 25.02, the valuation of SBAC can be described as expensive.
SBAC's Price/Earnings ratio is a bit cheaper when compared to the industry. SBAC is cheaper than 75.86% of the companies in the same industry.
When comparing the Price/Earnings ratio of SBAC to the average of the S&P500 Index (27.30), we can say SBAC is valued inline with the index average.
A Price/Forward Earnings ratio of 21.30 indicates a rather expensive valuation of SBAC.
Based on the Price/Forward Earnings ratio, SBAC is valued a bit cheaper than 75.86% of the companies in the same industry.
SBAC is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.73, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.02 | ||
| Fwd PE | 21.3 |
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 a bit cheaper when compared to the industry. SBAC is cheaper than 72.41% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 19.92 | ||
| EV/EBITDA | 18.4 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The excellent profitability rating of SBAC may justify a higher PE ratio.
PEG (NY)1.06
PEG (5Y)0.63
EPS Next 2Y15.41%
EPS Next 3Y11.53%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.23%, SBAC has a reasonable but not impressive dividend return.
With a Dividend Yield of 2.23, SBAC pays less dividend than the industry average, which is at 5.99. 89.66% of the companies listed in the same industry pay a better dividend than SBAC!
Compared to an average S&P500 Dividend Yield of 2.38, SBAC has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.23% |
5.2 History
On average, the dividend of SBAC grows each year by 39.51%, 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)39.51%
Div Incr Years5
Div Non Decr Years5
5.3 Sustainability
51.48% of the earnings are spent on dividend by SBAC. This is a bit on the high side, but may be sustainable.
SBAC's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP51.48%
EPS Next 2Y15.41%
EPS Next 3Y11.53%
NASDAQ:SBAC (9/15/2025, 2:20:01 PM)
196.92
-3.05 (-1.53%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners101.13%
Inst Owner Change0.02%
Ins Owners0.7%
Ins Owner Change0.85%
Market Cap21.15B
Analysts75.2
Price Target261.69 (32.89%)
Short Float %1.88%
Short Ratio2.49
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.23% |
Yearly Dividend3.93
Dividend Growth(5Y)39.51%
DP51.48%
Div Incr Years5
Div Non Decr Years5
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-12.69%
Min EPS beat(2)-22.17%
Max EPS beat(2)-3.21%
EPS beat(4)1
Avg EPS beat(4)-11.35%
Min EPS beat(4)-23.81%
Max EPS beat(4)3.8%
EPS beat(8)2
Avg EPS beat(8)-15.09%
EPS beat(12)3
Avg EPS beat(12)-9.74%
EPS beat(16)4
Avg EPS beat(16)-10.27%
Revenue beat(2)1
Avg Revenue beat(2)0.24%
Min Revenue beat(2)-1.62%
Max Revenue beat(2)2.11%
Revenue beat(4)1
Avg Revenue beat(4)-0.51%
Min Revenue beat(4)-2.29%
Max Revenue beat(4)2.11%
Revenue beat(8)1
Avg Revenue beat(8)-1.62%
Revenue beat(12)2
Avg Revenue beat(12)-1.34%
Revenue beat(16)5
Avg Revenue beat(16)-0.9%
PT rev (1m)-0.73%
PT rev (3m)0.56%
EPS NQ rev (1m)-0.17%
EPS NQ rev (3m)-0.68%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.77%
Revenue NQ rev (1m)0.13%
Revenue NQ rev (3m)3.14%
Revenue NY rev (1m)1.89%
Revenue NY rev (3m)2%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.02 | ||
| Fwd PE | 21.3 | ||
| P/S | 7.76 | ||
| P/FCF | 19.92 | ||
| P/OCF | 16.47 | ||
| P/B | N/A | ||
| P/tB | N/A | ||
| EV/EBITDA | 18.4 |
EPS(TTM)7.87
EY4%
EPS(NY)9.24
Fwd EY4.69%
FCF(TTM)9.89
FCFY5.02%
OCF(TTM)11.96
OCFY6.07%
SpS25.37
BVpS-45.99
TBVpS-70.02
PEG (NY)1.06
PEG (5Y)0.63
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.16% | ||
| ROE | N/A | ||
| ROCE | 16.79% | ||
| ROIC | 13.27% | ||
| ROICexc | 13.67% | ||
| ROICexgc | 19.11% | ||
| OM | 57.54% | ||
| PM (TTM) | 32.25% | ||
| GM | 76.94% | ||
| FCFM | 38.97% |
ROA(3y)5.28%
ROA(5y)3.71%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)10.28%
ROIC(5y)8.89%
ROICexc(3y)10.61%
ROICexc(5y)9.2%
ROICexgc(3y)14.63%
ROICexgc(5y)13.14%
ROCE(3y)13.01%
ROCE(5y)11.26%
ROICexcg growth 3Y18.17%
ROICexcg growth 5Y12.75%
ROICexc growth 3Y21.4%
ROICexc growth 5Y18.43%
OM growth 3Y17.06%
OM growth 5Y13.31%
PM growth 3Y39.56%
PM growth 5Y30.83%
GM growth 3Y0.83%
GM growth 5Y0.72%
F-Score6
Asset Turnover0.25
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | N/A | ||
| Debt/FCF | 11.78 | ||
| Debt/EBITDA | 6.41 | ||
| Cap/Depr | 84.35% | ||
| Cap/Sales | 8.16% | ||
| Interest Coverage | 3.79 | ||
| Cash Conversion | 70.12% | ||
| Profit Quality | 120.83% | ||
| Current Ratio | 0.37 | ||
| Quick Ratio | 0.37 | ||
| Altman-Z | 0.51 |
F-Score6
WACC6.98%
ROIC/WACC1.9
Cap/Depr(3y)49.33%
Cap/Depr(5y)36.98%
Cap/Sales(3y)8.46%
Cap/Sales(5y)7.47%
Profit Quality(3y)213.48%
Profit Quality(5y)1044.71%
High Growth Momentum
Growth
EPS 1Y (TTM)66.03%
EPS 3Y48.25%
EPS 5Y40.01%
EPS Q2Q%38.41%
EPS Next Y23.64%
EPS Next 2Y15.41%
EPS Next 3Y11.53%
EPS Next 5Y13.19%
Revenue 1Y (TTM)1.82%
Revenue growth 3Y5.09%
Revenue growth 5Y5.87%
Sales Q2Q%5.83%
Revenue Next Year5%
Revenue Next 2Y3.98%
Revenue Next 3Y3.68%
Revenue Next 5Y4.24%
EBIT growth 1Y16.46%
EBIT growth 3Y23.01%
EBIT growth 5Y19.96%
EBIT Next Year26.72%
EBIT Next 3Y11.51%
EBIT Next 5Y8.83%
FCF growth 1Y-10.26%
FCF growth 3Y1.57%
FCF growth 5Y6.29%
OCF growth 1Y-9.52%
OCF growth 3Y3.91%
OCF growth 5Y6.59%