SBA COMMUNICATIONS CORP (SBAC) Stock Fundamental Analysis
NASDAQ:SBAC • US78410G1040
201.16 USD
+8.99 (+4.68%)
At close: Feb 27, 2026
202 USD
+0.84 (+0.42%)
After Hours: 2/27/2026, 8:00:02 PM
We assign a fundamental rating of 5 out of 10 to SBAC. SBAC was compared to 28 industry peers in the Specialized REITs industry. While SBAC has a great profitability rating, there are quite some 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.
- Each year in the past 5 years SBAC has been profitable.
- In the past 5 years SBAC always reported a positive cash flow from operatings.
1.2 Ratios
- With an excellent Return On Assets value of 7.61%, SBAC belongs to the best of the industry, outperforming 92.86% of the companies in the same industry.
- With an excellent Return On Invested Capital value of 14.82%, SBAC belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
- SBAC had an Average Return On Invested Capital over the past 3 years of 14.07%. This is significantly above the industry average of 4.97%.
- The 3 year average ROIC (14.07%) for SBAC is below the current ROIC(14.82%), indicating increased profibility in the last year.
| Industry Rank | Sector 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%
1.3 Margins
- The Profit Margin of SBAC (30.72%) is better than 75.00% of its industry peers.
- In the last couple of years the Profit Margin of SBAC has grown nicely.
- The Operating Margin of SBAC (56.42%) is better than 89.29% of its industry peers.
- SBAC's Operating Margin has improved in the last couple of years.
- Looking at the Gross Margin, with a value of 76.06%, SBAC is in the better half of the industry, outperforming 78.57% of the companies in the same industry.
- SBAC's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector 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%
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.
- 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.
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.
- With a Altman-Z score value of 0.51, SBAC is not doing good in the industry: 71.43% of the companies in the same industry are doing better.
- 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.
- With a decent Debt to FCF ratio value of 11.77, SBAC is doing good in the industry, outperforming 67.86% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | N/A | ||
| Debt/FCF | 11.77 | ||
| Altman-Z | 0.51 |
ROIC/WACC2.11
WACC7.01%
2.3 Liquidity
- A Current Ratio of 0.50 indicates that SBAC may have some problems paying its short term obligations.
- Looking at the Current ratio, with a value of 0.50, SBAC is in line with its industry, outperforming 42.86% of the companies in the same industry.
- A Quick Ratio of 0.50 indicates that SBAC may have some problems paying its short term obligations.
- SBAC's Quick ratio of 0.50 is in line compared to the rest of the industry. SBAC outperforms 42.86% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.5 | ||
| Quick Ratio | 0.5 |
3. Growth
3.1 Past
- The Earnings Per Share has grown by an impressive 33.29% over the past year.
- Measured over the past years, SBAC shows a very strong growth in Earnings Per Share. The EPS has been growing by 42.58% on average per year.
- 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)33.29%
EPS 3Y30%
EPS 5Y42.58%
EPS Q2Q%98.14%
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 small growth in Earnings Per Share. The EPS will grow by 1.81% on average per year.
- Based on estimates for the next years, SBAC will show a small growth in Revenue. The Revenue will grow by 3.24% on average per year.
EPS Next Y-3.67%
EPS Next 2Y-1.35%
EPS Next 3Y1.22%
EPS Next 5Y1.81%
Revenue Next Year1.36%
Revenue Next 2Y1.31%
Revenue Next 3Y2.92%
Revenue Next 5Y3.24%
3.3 Evolution
- The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
- 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.
4. Valuation
4.1 Price/Earnings Ratio
- SBAC is valuated rather expensively with a Price/Earnings ratio of 21.75.
- SBAC's Price/Earnings ratio is rather cheap when compared to the industry. SBAC is cheaper than 82.14% of the companies in the same industry.
- SBAC is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.07, which is the current average of the S&P500 Index.
- SBAC is valuated rather expensively with a Price/Forward Earnings ratio of 22.58.
- Based on the Price/Forward Earnings ratio, SBAC is valued a bit cheaper than 78.57% of the companies in the same industry.
- Compared to an average S&P500 Price/Forward Earnings ratio of 28.05, SBAC is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.75 | ||
| Fwd PE | 22.58 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, SBAC is valued a bit cheaper than the industry average as 60.71% of the companies are valued more expensively.
- Based on the Price/Free Cash Flow ratio, SBAC is valued a bit cheaper than 75.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 19.85 | ||
| EV/EBITDA | 18.21 |
4.3 Compensation for Growth
- The excellent profitability rating of SBAC may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.51
EPS Next 2Y-1.35%
EPS Next 3Y1.22%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 2.31%, SBAC has a reasonable but not impressive dividend return.
- With a Dividend Yield of 2.31, SBAC pays less dividend than the industry average, which is at 5.36. 85.71% 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 Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.31% |
5.2 History
- The dividend of SBAC is nicely growing with an annual growth rate of 19.15%!
- 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
5.3 Sustainability
- 54.40% 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.
DP54.4%
EPS Next 2Y-1.35%
EPS Next 3Y1.22%
201.16
+8.99 (+4.68%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)02-26 2026-02-26/amc
Earnings (Next)04-27 2026-04-27
Inst Owners101.63%
Inst Owner Change-2.76%
Ins Owners0.7%
Ins Owner Change-0.33%
Market Cap21.43B
Revenue(TTM)2.82B
Net Income(TTM)856.97M
Analysts75.2
Price Target231.35 (15.01%)
Short Float %2.43%
Short Ratio3.22
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.31% |
Yearly Dividend4.49
Dividend Growth(5Y)19.15%
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)-2.13%
PT rev (3m)-3.02%
EPS NQ rev (1m)0%
EPS NQ rev (3m)11.05%
EPS NY rev (1m)-0.73%
EPS NY rev (3m)-2.8%
Revenue NQ rev (1m)0.02%
Revenue NQ rev (3m)0.14%
Revenue NY rev (1m)-0.24%
Revenue NY rev (3m)-0.51%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.75 | ||
| Fwd PE | 22.58 | ||
| P/S | 7.68 | ||
| P/FCF | 19.85 | ||
| P/OCF | 16.52 | ||
| P/B | N/A | ||
| P/tB | N/A | ||
| EV/EBITDA | 18.21 |
EPS(TTM)9.25
EY4.6%
EPS(NY)8.91
Fwd EY4.43%
FCF(TTM)10.13
FCFY5.04%
OCF(TTM)12.18
OCFY6.05%
SpS26.18
BVpS-46.31
TBVpS-71.88
PEG (NY)N/A
PEG (5Y)0.51
Graham NumberN/A
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 0.51 |
F-Score7
WACC7.01%
ROIC/WACC2.11
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)33.29%
EPS 3Y30%
EPS 5Y42.58%
EPS Q2Q%98.14%
EPS Next Y-3.67%
EPS Next 2Y-1.35%
EPS Next 3Y1.22%
EPS Next 5Y1.81%
Revenue 1Y (TTM)5.06%
Revenue growth 3Y2.25%
Revenue growth 5Y6.21%
Sales Q2Q%3.73%
Revenue Next Year1.36%
Revenue Next 2Y1.31%
Revenue Next 3Y2.92%
Revenue Next 5Y3.24%
EBIT growth 1Y8.35%
EBIT growth 3Y16.01%
EBIT growth 5Y17.62%
EBIT Next Year28.43%
EBIT Next 3Y11.81%
EBIT Next 5Y8.91%
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 FAQ
What is the ChartMill fundamental rating of SBA COMMUNICATIONS CORP (SBAC) stock?
ChartMill assigns a fundamental rating of 4 / 10 to SBAC.
Can you provide the valuation status for SBA COMMUNICATIONS CORP?
ChartMill assigns a valuation rating of 4 / 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 21.75 and the Price/Book (PB) ratio is -4.34.
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%.