Empire State Realty OP LP ES (ESBA)vsSBA Communications Corp (SBAC)
ESBA
Empire State Realty OP LP ES
$5.57
+0.36%
REAL ESTATE · Cap: $1.48B
SBAC
SBA Communications Corp
$208.02
+0.08%
REAL ESTATE · Cap: $21.72B
Smart Verdict
WallStSmart Research — data-driven comparison
SBA Communications Corp generates 267% more annual revenue ($2.85B vs $776.71M). SBAC leads profitability with a 35.7% profit margin vs 7.8%. SBAC trades at a lower P/E of 21.6x. SBAC earns a higher WallStSmart Score of 49/100 (D+).
ESBA
Hold41
out of 100
Grade: D
SBAC
Hold49
out of 100
Grade: D+
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+82.4%
Fair Value
$36.14
Current Price
$5.57
$30.57 discount
Margin of Safety
+0.7%
Fair Value
$192.34
Current Price
$208.02
$15.68 discount
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Reasonable price relative to book value
Keeps 36 of every $100 in revenue as profit
Strong operational efficiency at 52.4%
Conservative balance sheet, low leverage
Areas to Watch
Moderate valuation
4.9% revenue growth
Smaller company, higher risk/reward
ROE of 3.7% — below average capital efficiency
ROE of 0.0% — below average capital efficiency
Expensive relative to growth rate
Earnings declined 14.7%
Distress zone — elevated risk
Comparative Analysis Report
WallStSmart ResearchBull Case : ESBA
The strongest argument for ESBA centers on Price/Book.
Bull Case : SBAC
The strongest argument for SBAC centers on Profit Margin, Operating Margin, Debt/Equity. Profitability is solid with margins at 35.7% and operating margin at 52.4%.
Bear Case : ESBA
The primary concerns for ESBA are P/E Ratio, Revenue Growth, Market Cap. Debt-to-equity of 2.21 is elevated, increasing financial risk.
Bear Case : SBAC
The primary concerns for SBAC are Return on Equity, PEG Ratio, EPS Growth.
Key Dynamics to Monitor
ESBA profiles as a value stock while SBAC is a mature play — different risk/reward profiles.
ESBA carries more volatility with a beta of 1.41 — expect wider price swings.
SBAC is growing revenue faster at 5.9% — sustainability is the question.
SBAC generates stronger free cash flow (207M), providing more financial flexibility.
Bottom Line
SBAC scores higher overall (49/100 vs 41/100), backed by strong 35.7% margins. ESBA offers better value entry with a 82.4% margin of safety. Both earn "Hold" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.
This analysis is generated from publicly available financial data. Not financial advice.
Empire State Realty OP LP ES
REAL ESTATE · REIT - OFFICE · USA
Empire State Realty OP, L.P. is a subsidiary of Empire State Realty Trust, Inc.
SBA Communications Corp
REAL ESTATE · REIT - SPECIALTY · USA
SBA Communications Corporation is a real estate investment trust which owns and operates wireless infrastructure in the United States, Canada, Central America, South America, and South Africa.
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