What is Sba Communications Corp's earnings per share (EPS)?

Sba Communications Corp (SBAC) reported diluted earnings per share of $9.80 for fiscal year 2025. This represents a 41.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Sba Communications Corp Financials

SBAC

Trailing 12 months to June 30, 2026

Revenue $2.9B +5.4% YoY

Net Income $990.7M +12.7% YoY

EPS (Diluted) $9.28 +14.0% YoY

Free Cash Flow $1.0B +293.7% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

Sba Communications Corp (SBAC) reported $2.9B in revenue over the twelve months to Jun 30, 2026, up 5.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI SBAC FY2025 2026-05-05

A high-margin asset base produces outsized cash flow that funds leverage, buybacks, and dividends more than balance-sheet rebuilding.

From FY2023 to FY2025, net income nearly doubled from $502M to $1.05B. Yet operating cash flow fell from $1.54B to $1.29B, so the latest profit improvement came with weaker cash conversion, meaning reported earnings are improving faster than liquidity is.

Capital intensity looks lighter than the asset base would suggest: capital spending was only $225M against $1.29B of operating cash flow in FY2025. That helps explain why a gross margin of 75.5% can still turn into $1.07B of free cash flow instead of being absorbed by constant reinvestment.

Balance-sheet posture remains tight even with healthy cash generation: long-term debt was still $11.0B in FY2025 while the current ratio compressed to 0.3x. That combination suggests the business can carry a liability-heavy structure from ongoing operations, but it keeps little short-term cash slack and has not meaningfully rebuilt equity.

Financial Health Signals

Financial Health Score 52/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Sba Communications Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Growth

Leverage

Interest Cov.

Not available for Sba Communications Corp, and counted as zero in the overall score.

AFFO Margin

Dividend Cov.

Altman Z-Score Distress

0.27

Sba Communications Corp scores 0.27, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($19.7B) relative to total liabilities ($16.4B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Strong

7/9

Sba Communications Corp passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.23x

For every $1 of reported earnings, Sba Communications Corp generates $1.23 in operating cash flow ($1.3B OCF vs $1.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$2.8B

YoY+5.1%

5Y CAGR+6.2%

10Y CAGR+5.6%

Sba Communications Corp generated $2.8B in revenue in fiscal year 2025. This represents an increase of 5.1% from the prior year.

EBITDA

$1.6B

YoY-4.1%

5Y CAGR+3.8%

10Y CAGR+5.3%

Sba Communications Corp's EBITDA was $1.6B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 4.1% from the prior year.

Net Income

$1.1B

YoY+40.6%

5Y CAGR+112.9%

Sba Communications Corp reported $1.1B in net income in fiscal year 2025. This represents an increase of 40.6% from the prior year.

EPS (Diluted)

$9.80

YoY+41.2%

5Y CAGR+115.7%

Sba Communications Corp earned $9.80 per diluted share (EPS) in fiscal year 2025. This represents an increase of 41.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$1.1B

YoY-3.6%

5Y CAGR+1.3%

10Y CAGR+7.6%

Sba Communications Corp generated $1.1B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 3.6% from the prior year.

Cash & Debt

$264.6M

YoY+39.4%

5Y CAGR-3.0%

10Y CAGR+8.4%

Sba Communications Corp held $264.6M in cash against $11.0B in long-term debt as of fiscal year 2025.

Shares Outstanding

106M

YoY-1.7%

5Y CAGR-0.7%

10Y CAGR-1.7%

Sba Communications Corp had 106M shares outstanding in fiscal year 2025. This represents a decrease of 1.7% from the prior year.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin

75.5%

YoY-2.8pp

5Y CAGR-1.7pp

10Y CAGR+2.6pp

Sba Communications Corp's gross margin was 75.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.8 percentage points from the prior year.

Operating Margin

47.7%

YoY-5.9pp

5Y CAGR+17.3pp

10Y CAGR+28.6pp

Sba Communications Corp's operating margin was 47.7% in fiscal year 2025, reflecting core business profitability. This is down 5.9 percentage points from the prior year.

Net Margin

37.4%

YoY+9.5pp

5Y CAGR+36.3pp

10Y CAGR+48.2pp

Sba Communications Corp's net profit margin was 37.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 9.5 percentage points from the prior year.

Return on Equity

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks

$497.8M

YoY+148.9%

5Y CAGR-10.3%

10Y CAGR+1.0%

Sba Communications Corp spent $497.8M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 148.9% from the prior year.

Capital Expenditures

$224.8M

YoY-1.5%

5Y CAGR+11.8%

10Y CAGR+0.7%

Sba Communications Corp invested $224.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 1.5% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

SBAC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SBAC quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$2.9B	$2.8B+5.1%	$2.7B-1.2%	$2.7B+3.0%	$2.6B+14.1%	$2.3B+10.8%	$2.1B+3.4%	$2.0B+8.0%	$1.9B+8.0%	$1.7B+5.8%	$1.6B-0.3%	$1.6B+7.3%	$1.5B+17.0%	$1.3B+36.8%	$954.1M+36.7%	$698.2M
Cost of Revenue	N/A	$199.0M+67.6%	$118.7M-15.2%	$139.9M-37.2%	$223.0M+40.1%	$159.1M+54.8%	$102.8M-13.7%	$119.1M+23.4%	$96.5M+11.2%	$86.8M-79.4%	$420.9M-5.3%	$444.4M+3.7%	$428.5M+5.0%	$408.3M+46.1%	$279.5M+37.7%	$202.9M
Gross Profit	N/A	$2.1B+1.3%	$2.1B-0.1%	$2.1B+6.8%	$2.0B+11.4%	$1.8B+9.8%	$1.6B+5.6%	$1.5B+8.9%	$1.4B+9.0%	$1.3B+5.7%	$1.2B+1.5%	$1.2B+8.7%	$1.1B+22.5%	$896.6M+32.9%	$674.6M+36.2%	$495.2M
SG&A Expenses	N/A	$277.6M+7.3%	$258.8M-3.4%	$267.9M+2.3%	$261.9M+19.0%	$220.0M+13.3%	$194.3M+0.8%	$192.7M+35.2%	$142.5M+9.1%	$130.7M-8.8%	$143.3M+24.7%	$115.0M+11.3%	$103.3M+20.9%	$85.5M+18.5%	$72.1M+14.8%	$62.8M
Operating Income	$1.4B	$1.3B-6.5%	$1.4B+55.4%	$923.7M-0.2%	$925.4M+18.3%	$782.5M+23.5%	$633.7M+8.6%	$583.5M+7.2%	$544.2M+18.7%	$458.5M+18.4%	$387.3M+24.0%	$312.5M-7.2%	$336.5M+46.5%	$229.6M+56.1%	$147.1M+33.0%	$110.7M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$196.2M+22.0%	$160.9M
Income Tax	N/A	$187.6M+682.0%	$24.0M-53.0%	$51.1M-22.6%	$66.0M+342.1%	$14.9M+135.7%	-$41.8M-205.5%	$39.6M+835.6%	$4.2M-68.0%	$13.2M+19.6%	$11.1M+22.1%	$9.1M+4.9%	$8.6M+759.7%	-$1.3M-119.9%	$6.6M+212.1%	$2.1M
Net Income	$990.7M	$1.1B+40.6%	$749.5M+49.4%	$501.8M+8.8%	$461.4M+94.2%	$237.6M+885.8%	$24.1M-83.6%	$147.0M+209.8%	$47.5M-54.2%	$103.7M+36.0%	$76.2M+143.4%	-$175.7M-623.0%	-$24.3M+56.5%	-$55.9M+69.1%	-$181.0M-43.2%	-$126.5M
EPS (Diluted)	$9.28	$9.80+41.2%	$6.94+50.5%	$4.61+9.2%	$4.22+97.2%	$2.14+919.0%	$0.21-83.6%	$1.28+212.2%	$0.41-52.3%	$0.86+41.0%	$0.61+144.5%	-$1.37-621.1%	-$0.19	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$715.3M+1.7%	$703.4M-2.2%	$719.6M-1.7%	$732.3M+4.8%	$699.0M+5.2%	$664.2M-4.2%	$693.7M+3.9%	$667.6M
Cost of Revenue	$41.9M+6.3%	$39.4M	N/A	$62.5M+16.8%	$53.5M+40.2%	$38.2M	N/A	$32.4M
Gross Profit	$539.3M+1.3%	$532.1M	N/A	$542.5M+3.0%	$526.9M+3.2%	$510.6M	N/A	$517.3M
SG&A Expenses	$77.5M+9.9%	$70.5M	N/A	$66.0M-7.1%	$71.0M+7.3%	$66.2M	N/A	$60.1M
Operating Income	$351.9M+2.6%	$342.8M+14.7%	$298.9M-20.1%	$374.2M+11.8%	$334.8M0.0%	$334.9M-12.4%	$382.3M+1.8%	$375.6M
Income Tax	$36.0M-29.6%	$51.1M	N/A	$48.7M+38.8%	$35.1M-16.6%	$42.0M	N/A	$42.3M
Net Income	$198.8M+7.5%	$184.8M-50.1%	$370.3M+56.4%	$236.8M+4.9%	$225.8M+2.3%	$220.7M+27.1%	$173.6M-32.8%	$258.5M
EPS (Diluted)	$1.87+7.5%	$1.74-49.9%	$3.47+57.7%	$2.20+5.3%	$2.09+2.5%	$2.04+26.7%	$1.61-32.9%	$2.40

Not reported in any period shown, so not listed: R&D Expenses, Interest Expense.

SBAC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SBAC quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$11.6B+1.4%	$11.4B+12.2%	$10.2B-3.8%	$10.6B+8.0%	$9.8B+7.0%	$9.2B-6.2%	$9.8B+35.3%	$7.2B-1.5%	$7.3B-0.6%	$7.4B+0.7%	$7.3B-6.7%	$7.8B+15.6%	$6.8B+2.5%	$6.6B+83.4%	$3.6B
Current Assets	$773.4M-60.9%	$2.0B+308.6%	$484.3M+0.3%	$482.7M-21.4%	$614.4M+29.9%	$473.0M+41.5%	$334.3M-10.6%	$373.9M+44.0%	$259.5M-20.0%	$324.6M+10.4%	$294.0M-10.1%	$326.9M-4.9%	$343.7M-11.6%	$388.9M+200.6%	$129.4M
Cash & Equivalents	$264.6M+39.4%	$189.8M-9.0%	$208.5M+45.1%	$143.7M-60.9%	$367.3M+19.0%	$308.6M+184.9%	$108.3M-24.5%	$143.4M+108.5%	$68.8M-52.9%	$146.1M+23.8%	$118.0M+199.3%	$39.4M-67.7%	$122.1M-47.6%	$233.1M+392.6%	$47.3M
Accounts Receivable	$171.3M+17.5%	$145.7M-20.3%	$182.7M-0.9%	$184.4M+80.8%	$102.0M+37.6%	$74.1M-43.9%	$132.1M+19.0%	$111.0M+22.5%	$90.7M+15.7%	$78.3M-6.0%	$83.3M-20.1%	$104.3M+46.2%	$71.3M+82.5%	$39.1M+76.9%	$22.1M
Total Liabilities	$16.4B-0.6%	$16.5B+7.7%	$15.3B-3.2%	$15.9B+5.1%	$15.1B+7.9%	$14.0B+4.1%	$13.4B+26.8%	$10.6B+6.8%	$9.9B+6.0%	$9.4B+3.7%	$9.0B+6.1%	$8.5B+32.3%	$6.4B+7.8%	$6.0B+64.8%	$3.6B
Current Liabilities	$2.7B+49.0%	$1.8B+31.9%	$1.4B+95.7%	$696.8M+13.1%	$616.3M+0.2%	$614.8M-41.4%	$1.0B-13.1%	$1.2B+332.5%	$278.9M-68.1%	$873.4M+219.5%	$273.4M-17.4%	$331.1M-55.7%	$747.7M-13.4%	$863.7M+580.7%	$126.9M
Long-Term Debt	$11.0B-11.6%	$12.4B+6.2%	$11.7B-9.1%	$12.8B+4.6%	$12.3B+10.9%	$11.1B+12.8%	$9.8B+9.1%	$9.0B-3.2%	$9.3B+14.0%	$8.1B-3.4%	$8.4B+7.7%	$7.8B+45.1%	$5.4B+10.5%	$4.9B+45.7%	$3.3B
Total Equity	-$4.9B+5.0%	-$5.1B+1.2%	-$5.2B+2.0%	-$5.3B+0.1%	-$5.3B-9.5%	-$4.8B-31.6%	-$3.7B-8.6%	-$3.4B-29.9%	-$2.6B-30.2%	-$2.0B-17.0%	-$1.7B-158.2%	-$660.8M-285.1%	$357.0M-45.3%	$653.0M+5872.0%	-$11.3M
Retained Earnings	-$7.2B+1.0%	-$7.3B+1.7%	-$7.5B+0.4%	-$7.5B-3.9%	-$7.2B-9.1%	-$6.6B-18.8%	-$5.6B-8.3%	-$5.1B-17.0%	-$4.4B-20.6%	-$3.6B-14.8%	-$3.2B-24.6%	-$2.5B-1.0%	-$2.5B-2.3%	-$2.5B-7.9%	-$2.3B

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$11.7B+0.2%	$11.7B+1.3%	$11.6B+2.8%	$11.3B+4.6%	$10.8B+3.1%	$10.4B-8.5%	$11.4B+11.9%	$10.2B
Current Assets	$744.8M-3.0%	$767.5M-0.8%	$773.4M-4.8%	$812.5M+55.1%	$523.8M-43.9%	$933.3M-52.8%	$2.0B+339.5%	$450.3M
Cash & Equivalents	$327.1M+21.6%	$269.1M+1.7%	$264.6M-38.5%	$430.3M+56.3%	$275.3M-56.7%	$636.4M+235.3%	$189.8M+1.9%	$186.3M
Accounts Receivable	$176.0M+9.0%	$161.5M-5.7%	$171.3M+8.3%	$158.1M+13.0%	$139.9M+7.7%	$129.8M-10.9%	$145.7M+31.2%	$111.0M
Total Liabilities	$16.4B-0.6%	$16.5B+0.3%	$16.4B+1.4%	$16.2B+3.1%	$15.7B+1.9%	$15.4B-6.7%	$16.5B+7.5%	$15.4B
Current Liabilities	$4.3B+29.6%	$3.3B+24.9%	$2.7B+66.3%	$1.6B+12.7%	$1.4B+6.5%	$1.3B-25.3%	$1.8B+169.2%	$667.8M
Long-Term Debt	$9.2B-11.0%	$10.3B-6.3%	$11.0B-8.1%	$11.9B+1.6%	$11.7B+0.7%	$11.7B-6.0%	$12.4B+0.9%	$12.3B
Total Equity	-$4.6B+2.6%	-$4.8B+2.1%	-$4.9B+1.6%	-$4.9B+0.1%	-$4.9B+0.6%	-$5.0B+2.7%	-$5.1B+1.3%	-$5.2B
Retained Earnings	-$7.1B+0.9%	-$7.2B+0.7%	-$7.2B+0.5%	-$7.3B-0.5%	-$7.3B-0.3%	-$7.2B+1.4%	-$7.3B+0.9%	-$7.4B

Not reported in any period shown, so not listed: Inventory, Goodwill.

SBAC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SBAC quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$1.3B	$1.3B-3.3%	$1.3B-13.6%	$1.5B+20.1%	$1.3B+8.1%	$1.2B+5.7%	$1.1B+16.1%	$970.0M+14.0%	$850.6M+3.9%	$818.5M+10.2%	$742.5M+2.7%	$723.0M+7.2%	$674.3M+35.5%	$497.6M+46.0%	$340.9M+36.9%	$249.1M
Capital Expenditures	$248.3M	$224.8M-1.5%	$228.1M-3.6%	$236.7M+10.4%	$214.4M+60.4%	$133.7M+4.0%	$128.6M-16.6%	$154.2M+3.0%	$149.8M+1.9%	$147.0M+5.0%	$140.0M-32.9%	$208.7M-1.2%	$211.3M+25.1%	$168.9M+49.1%	$113.3M-10.8%	$126.9M
Free Cash Flow	$1.0B	$1.1B-3.6%	$1.1B-15.4%	$1.3B+22.1%	$1.1B+1.4%	$1.1B+5.9%	$997.5M+22.3%	$815.8M+16.4%	$700.8M+4.4%	$671.4M+11.4%	$602.5M+17.2%	$514.3M+11.1%	$463.1M+40.9%	$328.7M+44.4%	$227.6M+86.4%	$122.1M
Investing Cash Flow	-$569.6M	-$601.8M+25.6%	-$809.3M-72.8%	-$468.2M+66.4%	-$1.4B+2.1%	-$1.4B-218.9%	-$446.4M+52.9%	-$947.2M-53.2%	-$618.3M-2.2%	-$605.1M-41.3%	-$428.2M+41.9%	-$737.1M	N/A	-$826.5M+63.7%	-$2.3B-347.9%	-$507.9M
Financing Cash Flow	-$659.5M	-$1.7B-357.6%	$645.7M+163.5%	-$1.0B-650.9%	-$135.5M-139.9%	$339.3M+172.3%	-$469.0M-652.7%	-$62.3M+58.0%	-$148.5M+49.6%	-$294.6M-2.1%	-$288.6M-480.9%	$75.8M	N/A	$220.2M-89.6%	$2.1B+774.4%	$242.0M
Dividends Paid	$506.8M	$479.0M+12.9%	$424.2M+14.7%	$370.0M+20.6%	$306.8M+21.0%	$253.6M+22.1%	$207.7M+149.1%	$83.4M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	$497.8M+148.9%	$200.0M+100.0%	$100.0M-76.8%	$431.7M-25.9%	$582.6M-32.2%	$859.3M+84.0%	$467.0M-41.3%	$795.6M-6.9%	$854.5M+56.6%	$545.7M+21.2%	$450.1M	N/A	N/A	N/A	$225.1M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$407.2M+59.6%	$255.1M-16.1%	$304.0M-4.4%	$318.0M-13.6%	$368.1M+22.2%	$301.2M-2.9%	$310.2M+1.8%	$304.7M
Capital Expenditures	$62.4M+29.0%	$48.4M-22.8%	$62.7M-16.1%	$74.7M-88.4%	$646.9M+1301.1%	$46.2M-16.9%	$55.5M-79.6%	$272.3M
Free Cash Flow	$344.8M+66.8%	$206.7M-14.3%	$241.3M-0.8%	$243.3M+187.3%	-$278.8M-209.3%	$255.0M+0.2%	$254.6M+687.0%	$32.4M
Investing Cash Flow	-$13.7M+95.4%	-$296.8M-64.1%	-$180.8M-130.9%	-$78.3M+86.5%	-$581.0M-343.8%	$238.3M+172.4%	-$328.9M-20.1%	-$273.9M
Financing Cash Flow	-$366.7M-426.8%	-$69.6M+51.4%	-$143.4M-79.6%	-$79.8M+49.6%	-$158.3M+87.7%	-$1.3B-208.7%	$1.2B+1889.6%	-$65.9M
Dividends Paid	$133.5M-1.3%	$135.2M+14.3%	$118.2M-1.4%	$119.9M-0.1%	$120.0M-1.9%	$122.3M+16.0%	$105.4M-0.5%	$106.0M
Share Buybacks	N/A	N/A	$216.3M+43.4%	$150.8M	N/A	N/A	$0	$0

SBAC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

SBAC quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Gross Margin	75.5%-2.8pp	78.3%+0.9pp	77.4%+2.8pp	74.6%-1.8pp	76.4%-0.7pp	77.1%+1.6pp	75.5%+0.7pp	74.9%+0.7pp	74.2%-0.1pp	74.2%+1.3pp	72.9%+0.9pp	71.9%+3.2pp	68.7%-2.0pp	70.7%-0.2pp	70.9%
Operating Margin	47.7%-5.9pp	53.6%+19.5pp	34.1%-1.1pp	35.1%+1.3pp	33.9%+3.5pp	30.4%+1.5pp	29.0%-0.2pp	29.2%+2.6pp	26.5%+2.8pp	23.7%+4.6pp	19.1%-3.0pp	22.0%+4.4pp	17.6%+2.2pp	15.4%-0.4pp	15.8%
Net Margin	37.4%+9.5pp	28.0%+9.5pp	18.5%+1.0pp	17.5%+7.2pp	10.3%+9.1pp	1.2%-6.1pp	7.3%+4.8pp	2.5%-3.5pp	6.0%+1.3pp	4.7%+15.4pp	-10.7%-9.1pp	-1.6%+2.7pp	-4.3%+14.7pp	-19.0%-0.9pp	-18.1%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-15.7%+12.1pp	-27.7%	N/A
Return on Assets	9.1%+2.5pp	6.6%+1.6pp	4.9%+0.6pp	4.4%+1.9pp	2.4%+2.2pp	0.3%-1.3pp	1.5%+0.9pp	0.7%-0.8pp	1.4%+0.4pp	1.0%+3.4pp	-2.4%-2.1pp	-0.3%+0.5pp	-0.8%+1.9pp	-2.7%+0.8pp	-3.5%
Current Ratio	0.29-0.8x	1.10+0.7x	0.36-0.3x	0.69-0.3x	1.00+0.2x	0.77+0.5x	0.320.0x	0.31-0.6x	0.93+0.6x	0.37-0.7x	1.08+0.1x	0.99+0.5x	0.460.0x	0.45-0.6x	1.02
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	15.11+7.6x	7.47	N/A
FCF Margin	37.9%-3.4pp	41.3%-6.9pp	48.2%+7.6pp	40.7%-5.1pp	45.8%-2.1pp	47.9%+7.4pp	40.5%+2.9pp	37.6%-1.3pp	38.9%+2.0pp	36.9%+5.5pp	31.4%+1.1pp	30.3%+5.1pp	25.2%+1.3pp	23.9%+6.4pp	17.5%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	75.4%-0.2pp	75.6%	N/A	74.1%-1.3pp	75.4%-1.5pp	76.9%	N/A	77.5%
Operating Margin	49.2%+0.5pp	48.7%+7.2pp	41.5%-9.6pp	51.1%+3.2pp	47.9%-2.5pp	50.4%-4.7pp	55.1%-1.1pp	56.3%
Net Margin	27.8%+1.5pp	26.3%-25.2pp	51.5%+19.1pp	32.3%0.0pp	32.3%-0.9pp	33.2%+8.2pp	25.0%-13.7pp	38.7%
Return on Assets	1.7%+0.1pp	1.6%-1.6pp	3.2%+1.1pp	2.1%0.0pp	2.1%0.0pp	2.1%+0.6pp	1.5%-1.0pp	2.5%
Current Ratio	0.17-0.1x	0.23-0.1x	0.29-0.2x	0.50+0.1x	0.37-0.3x	0.69-0.4x	1.10+0.4x	0.67
FCF Margin	48.2%+18.8pp	29.4%-4.1pp	33.5%+0.3pp	33.2%+73.1pp	-39.9%-78.3pp	38.4%+1.7pp	36.7%+31.9pp	4.9%

Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.

Note: Shareholder equity is negative (-$4.9B), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.29), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Where Sba Communications Corp Ranks

Frequently Asked Questions

What is Sba Communications Corp's annual revenue?

Sba Communications Corp (SBAC) reported $2.8B in total revenue for fiscal year 2025. This represents a 5.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Sba Communications Corp's revenue growing?

Sba Communications Corp (SBAC) revenue grew by 5.1% year-over-year, from $2.7B to $2.8B in fiscal year 2025.

Is Sba Communications Corp profitable?

Yes, Sba Communications Corp (SBAC) reported a net income of $1.1B in fiscal year 2025, with a net profit margin of 37.4%.

What is Sba Communications Corp's EBITDA?

Sba Communications Corp (SBAC) had EBITDA of $1.6B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Sba Communications Corp have?

As of fiscal year 2025, Sba Communications Corp (SBAC) had $264.6M in cash and equivalents against $11.0B in long-term debt.

What is Sba Communications Corp's gross margin?

Sba Communications Corp (SBAC) had a gross margin of 75.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Sba Communications Corp's operating margin?

Sba Communications Corp (SBAC) had an operating margin of 47.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Sba Communications Corp's net profit margin?

Sba Communications Corp (SBAC) had a net profit margin of 37.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Sba Communications Corp's free cash flow?

Sba Communications Corp (SBAC) generated $1.1B in free cash flow during fiscal year 2025. This represents a -3.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Sba Communications Corp's operating cash flow?

Sba Communications Corp (SBAC) generated $1.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Sba Communications Corp's total assets?

Sba Communications Corp (SBAC) had $11.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Sba Communications Corp's capital expenditures?

Sba Communications Corp (SBAC) invested $224.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Sba Communications Corp buy back shares?

Yes, Sba Communications Corp (SBAC) spent $497.8M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Sba Communications Corp have outstanding?

Sba Communications Corp (SBAC) had 106M shares outstanding as of fiscal year 2025.

What is Sba Communications Corp's current ratio?

Sba Communications Corp (SBAC) had a current ratio of 0.29 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Sba Communications Corp's return on assets (ROA)?

Sba Communications Corp (SBAC) had a return on assets of 9.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Why is Sba Communications Corp's debt-to-equity ratio negative or not reported?

Sba Communications Corp (SBAC) has negative shareholder equity of -$4.9B as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Sba Communications Corp's Altman Z-Score?

Sba Communications Corp (SBAC) has an Altman Z-Score of 0.27, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Sba Communications Corp's Piotroski F-Score?

Sba Communications Corp (SBAC) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Sba Communications Corp's earnings high quality?

Sba Communications Corp (SBAC) has an earnings quality ratio of 1.23x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Sba Communications Corp?

Sba Communications Corp (SBAC) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.