SBA COMMUNICATIONS CORP (SBAC) Stock Fundamental Analysis

USA • Nasdaq • NASDAQ:SBAC • US78410G1040

180.51 USD
-4.36 (-2.36%)
At close: Feb 5, 2026
182.03 USD
+1.52 (+0.84%)
After Hours: 2/5/2026, 8:00:02 PM
Fundamental Rating

5

Taking everything into account, SBAC scores 5 out of 10 in our fundamental rating. SBAC was compared to 30 industry peers in the Specialized REITs industry. SBAC scores excellent on profitability, but there are concerns on its financial health. SBAC is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • In the past year SBAC was profitable.
  • SBAC had a positive operating cash flow in the past year.
  • 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 500M 1B 1.5B

1.2 Ratios

  • SBAC has a Return On Assets of 7.61%. This is amongst the best in the industry. SBAC outperforms 90.00% of its industry peers.
  • The Return On Invested Capital of SBAC (12.88%) is better than 100.00% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for SBAC is significantly above the industry average of 4.81%.
  • The last Return On Invested Capital (12.88%) for SBAC is above the 3 year average (10.28%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 7.61%
ROE N/A
ROIC 12.88%
ROA(3y)5.28%
ROA(5y)3.71%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)10.28%
ROIC(5y)8.89%
SBAC Yearly ROA, ROE, ROICSBAC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 -10

1.3 Margins

  • SBAC has a Profit Margin of 30.72%. This is in the better half of the industry: SBAC outperforms 76.67% of its industry peers.
  • SBAC's Profit Margin has improved in the last couple of years.
  • The Operating Margin of SBAC (56.42%) is better than 90.00% of its industry peers.
  • In the last couple of years the Operating Margin of SBAC has grown nicely.
  • Looking at the Gross Margin, with a value of 76.06%, SBAC is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
  • 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 3Y17.06%
OM growth 5Y13.31%
PM growth 3Y39.56%
PM growth 5Y30.83%
GM growth 3Y0.83%
GM growth 5Y0.72%
SBAC Yearly Profit, Operating, Gross MarginsSBAC Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), SBAC is creating value.
  • Compared to 1 year ago, SBAC has less shares outstanding
  • Compared to 5 years ago, SBAC has less shares outstanding
  • 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 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 2B 4B 6B 8B 10B

2.2 Solvency

  • Based on the Altman-Z score of 0.43, we must say that SBAC is in the distress zone and has some risk of bankruptcy.
  • SBAC's Altman-Z score of 0.43 is on the low side compared to the rest of the industry. SBAC is outperformed by 73.33% 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's Debt to FCF ratio of 11.77 is fine compared to the rest of the industry. SBAC outperforms 66.67% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 11.77
Altman-Z 0.43
ROIC/WACC1.85
WACC6.95%
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 0 5B -5B 10B

2.3 Liquidity

  • A Current Ratio of 0.50 indicates that SBAC may have some problems paying its short term obligations.
  • SBAC has a Current ratio of 0.50. This is in the lower half of the industry: SBAC underperforms 63.33% 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 has a Quick ratio of 0.50. This is in the lower half of the industry: SBAC underperforms 63.33% 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 500M 1B 1.5B

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

4

3. Growth

3.1 Past

  • SBAC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 20.98%, which is quite impressive.
  • 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 4.82%.
  • SBAC shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.87% yearly.
EPS 1Y (TTM)20.98%
EPS 3Y48.25%
EPS 5Y40.01%
EPS Q2Q%-8.33%
Revenue 1Y (TTM)4.82%
Revenue growth 3Y5.09%
Revenue growth 5Y5.87%
Sales Q2Q%9.7%

3.2 Future

  • Based on estimates for the next years, SBAC will show a small growth in Earnings Per Share. The EPS will grow by 6.24% on average per year.
  • The Revenue is expected to grow by 4.28% on average over the next years.
EPS Next Y44.35%
EPS Next 2Y13.73%
EPS Next 3Y9%
EPS Next 5Y6.24%
Revenue Next Year5.73%
Revenue Next 2Y3.64%
Revenue Next 3Y2.81%
Revenue Next 5Y4.28%

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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Find the best growth stocksShow best growing peers

6

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 23.53, the valuation of SBAC can be described as rather expensive.
  • 83.33% of the companies in the same industry are more expensive than SBAC, based on the Price/Earnings ratio.
  • SBAC is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.67, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 20.11, the valuation of SBAC can be described as rather expensive.
  • 83.33% of the companies in the same industry are more expensive than SBAC, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.20, SBAC is valued a bit cheaper.
Industry RankSector Rank
PE 23.53
Fwd PE 20.11
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 70.00% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, SBAC is valued a bit cheaper than the industry average as 76.67% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 17.81
EV/EBITDA 17.02
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's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • SBAC has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)0.53
PEG (5Y)0.59
EPS Next 2Y13.73%
EPS Next 3Y9%

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

5

5. Dividend

5.1 Amount

  • SBAC has a Yearly Dividend Yield of 2.36%.
  • With a Dividend Yield of 2.36, SBAC pays less dividend than the industry average, which is at 5.52. 83.33% of the companies listed in the same industry pay a better dividend than SBAC!
  • Compared to an average S&P500 Dividend Yield of 1.82, SBAC pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.36%

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
SBAC Yearly Dividends per shareSBAC Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 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.
  • SBAC's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP54.4%
EPS Next 2Y13.73%
EPS Next 3Y9%
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 200M 400M 600M 800M 1B
SBAC Dividend Payout.SBAC Dividend Payout, showing the Payout Ratio.SBAC Dividend Payout.PayoutRetained Earnings

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SBA COMMUNICATIONS CORP

NASDAQ:SBAC (2/5/2026, 8:00:02 PM)

After market: 182.03 +1.52 (+0.84%)

180.51

-4.36 (-2.36%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)11-03
Earnings (Next)02-25
Inst Owners101.63%
Inst Owner Change-1.71%
Ins Owners0.7%
Ins Owner Change-0.4%
Market Cap19.23B
Revenue(TTM)2.79B
Net Income(TTM)856.97M
Analysts75.2
Price Target236.39 (30.96%)
Short Float %2.42%
Short Ratio3.29
Dividend
Industry RankSector Rank
Dividend Yield 2.36%
Yearly Dividend3.93
Dividend Growth(5Y)39.51%
DP54.4%
Div Incr Years5
Div Non Decr Years5
Ex-DateN/A
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)-0.27%
PT rev (3m)-3.19%
EPS NQ rev (1m)6.46%
EPS NQ rev (3m)70.05%
EPS NY rev (1m)-0.24%
EPS NY rev (3m)15.95%
Revenue NQ rev (1m)0.06%
Revenue NQ rev (3m)-0.43%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.52%
Valuation
Industry RankSector Rank
PE 23.53
Fwd PE 20.11
P/S 6.9
P/FCF 17.81
P/OCF 14.82
P/B N/A
P/tB N/A
EV/EBITDA 17.02
EPS(TTM)7.67
EY4.25%
EPS(NY)8.98
Fwd EY4.97%
FCF(TTM)10.13
FCFY5.61%
OCF(TTM)12.18
OCFY6.75%
SpS26.18
BVpS-46.31
TBVpS-71.88
PEG (NY)0.53
PEG (5Y)0.59
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA 7.61%
ROE N/A
ROCE 16.31%
ROIC 12.88%
ROICexc 13.49%
ROICexgc 19.15%
OM 56.42%
PM (TTM) 30.72%
GM 76.06%
FCFM 38.71%
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%
ROICexgc growth 3Y18.17%
ROICexgc 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 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-Score6
WACC6.95%
ROIC/WACC1.85
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)20.98%
EPS 3Y48.25%
EPS 5Y40.01%
EPS Q2Q%-8.33%
EPS Next Y44.35%
EPS Next 2Y13.73%
EPS Next 3Y9%
EPS Next 5Y6.24%
Revenue 1Y (TTM)4.82%
Revenue growth 3Y5.09%
Revenue growth 5Y5.87%
Sales Q2Q%9.7%
Revenue Next Year5.73%
Revenue Next 2Y3.64%
Revenue Next 3Y2.81%
Revenue Next 5Y4.28%
EBIT growth 1Y8.35%
EBIT growth 3Y23.01%
EBIT growth 5Y19.96%
EBIT Next Year25.49%
EBIT Next 3Y10.06%
EBIT Next 5Y8.73%
FCF growth 1Y-6.94%
FCF growth 3Y1.57%
FCF growth 5Y6.29%
OCF growth 1Y-7.35%
OCF growth 3Y3.91%
OCF growth 5Y6.59%

SBA COMMUNICATIONS CORP / SBAC 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 6 / 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 23.53 and the Price/Book (PB) ratio is -3.9.


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%.