SBA COMMUNICATIONS CORP (SBAC) Stock Fundamental Analysis
USA - NASDAQ:SBAC - US78410G1040 - REIT
195.91 USD
+4.84 (+2.53%)
Overall SBAC gets a fundamental rating of 5 out of 10. We evaluated SBAC against 29 industry peers in the Specialized REITs industry. While SBAC belongs to the best of the industry regarding profitability, there are concerns on its financial health. SBAC is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
SBAC had positive earnings in the past year.
In the past year SBAC had a positive cash flow from operations.
SBAC had positive earnings in each of the past 5 years.
Each year in the past 5 years SBAC had a positive operating cash flow.
1.2 Ratios
SBAC has a better Return On Assets (8.16%) than 93.10% of its industry peers.
Looking at the Return On Invested Capital, with a value of 13.27%, SBAC belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for SBAC is significantly above the industry average of 4.79%.
The 3 year average ROIC (10.28%) for SBAC is below the current ROIC(13.27%), indicating increased profibility in the last year.
| 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
Looking at the Profit Margin, with a value of 32.25%, SBAC is in the better half of the industry, outperforming 75.86% of the companies in the same industry.
SBAC's Profit Margin has improved in the last couple of years.
With an excellent Operating Margin value of 57.54%, SBAC belongs to the best 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.
Looking at the Gross Margin, with a value of 76.94%, SBAC is in the better half of the industry, outperforming 65.52% of the companies in the same industry.
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
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so SBAC 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
The debt/assets ratio for SBAC has been reduced compared to a year ago.
2.2 Solvency
SBAC has an Altman-Z score of 0.47. This is a bad value and indicates that SBAC is not financially healthy and even has some risk of bankruptcy.
SBAC has a Altman-Z score of 0.47. This is in the lower half of the industry: SBAC underperforms 79.31% of its industry peers.
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.
The Debt to FCF ratio of SBAC (11.78) is better than 65.52% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | N/A | ||
| Debt/FCF | 11.78 | ||
| Altman-Z | 0.47 |
ROIC/WACC1.92
WACC6.91%
2.3 Liquidity
A Current Ratio of 0.37 indicates that SBAC may have some problems paying its short term obligations.
SBAC has a Current ratio of 0.37. This is in the lower half of the industry: SBAC underperforms 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.
With a Quick ratio value of 0.37, SBAC is not doing good in the industry: 75.86% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.37 | ||
| Quick Ratio | 0.37 |
3. Growth
3.1 Past
SBAC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 66.03%, 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 40.01% on average per year.
The Revenue has been growing slightly by 1.82% in the past year.
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.
The Revenue is expected to grow by 4.24% on average over the next years.
EPS Next Y24.01%
EPS Next 2Y15.23%
EPS Next 3Y11.21%
EPS Next 5Y13.19%
Revenue Next Year5.22%
Revenue Next 2Y3.96%
Revenue Next 3Y3.54%
Revenue Next 5Y4.24%
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in 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
The Price/Earnings ratio is 24.89, which indicates a rather expensive current valuation of SBAC.
Compared to the rest of the industry, the Price/Earnings ratio of SBAC indicates a somewhat cheap valuation: SBAC is cheaper than 75.86% of the companies listed in the same industry.
SBAC's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.49.
With a Price/Forward Earnings ratio of 21.26, SBAC is valued on the expensive side.
Based on the Price/Forward Earnings ratio, SBAC is valued a bit cheaper than 75.86% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of SBAC to the average of the S&P500 Index (22.99), we can say SBAC is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.89 | ||
| Fwd PE | 21.26 |
4.2 Price Multiples
65.52% of the companies in the same industry are more expensive than SBAC, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, SBAC is valued a bit cheaper than the industry average as 72.41% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 19.81 | ||
| EV/EBITDA | 17.88 |
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)1.04
PEG (5Y)0.62
EPS Next 2Y15.23%
EPS Next 3Y11.21%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.37%, SBAC has a reasonable but not impressive dividend return.
With a Dividend Yield of 2.37, SBAC pays less dividend than the industry average, which is at 6.13. 86.21% of the companies listed in the same industry pay a better dividend than SBAC!
SBAC's Dividend Yield is comparable with the S&P500 average which is at 2.43.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.37% |
5.2 History
The dividend of SBAC is nicely growing with an annual growth rate of 39.51%!
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.
The dividend of SBAC is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP51.48%
EPS Next 2Y15.23%
EPS Next 3Y11.21%
NASDAQ:SBAC (10/15/2025, 2:32:02 PM)
195.91
+4.84 (+2.53%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners101.92%
Inst Owner Change-0.21%
Ins Owners0.7%
Ins Owner Change0.85%
Market Cap21.04B
Analysts75.2
Price Target256.85 (31.11%)
Short Float %1.9%
Short Ratio1.74
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.37% |
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)-1.85%
PT rev (3m)-1.42%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.45%
EPS NY rev (1m)0.3%
EPS NY rev (3m)0.3%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)2.88%
Revenue NY rev (1m)0.21%
Revenue NY rev (3m)2.18%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.89 | ||
| Fwd PE | 21.26 | ||
| P/S | 7.72 | ||
| P/FCF | 19.81 | ||
| P/OCF | 16.38 | ||
| P/B | N/A | ||
| P/tB | N/A | ||
| EV/EBITDA | 17.88 |
EPS(TTM)7.87
EY4.02%
EPS(NY)9.22
Fwd EY4.7%
FCF(TTM)9.89
FCFY5.05%
OCF(TTM)11.96
OCFY6.1%
SpS25.37
BVpS-45.99
TBVpS-70.02
PEG (NY)1.04
PEG (5Y)0.62
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 | 0.47 |
F-Score6
WACC6.91%
ROIC/WACC1.92
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 Y24.01%
EPS Next 2Y15.23%
EPS Next 3Y11.21%
EPS Next 5Y13.19%
Revenue 1Y (TTM)1.82%
Revenue growth 3Y5.09%
Revenue growth 5Y5.87%
Sales Q2Q%5.83%
Revenue Next Year5.22%
Revenue Next 2Y3.96%
Revenue Next 3Y3.54%
Revenue Next 5Y4.24%
EBIT growth 1Y16.46%
EBIT growth 3Y23.01%
EBIT growth 5Y19.96%
EBIT Next Year26.98%
EBIT Next 3Y10.88%
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%