National Retail Properties Inc (NNN)vsSBA Communications Corp (SBAC)
NNN
National Retail Properties Inc
$43.52
-1.18%
REAL ESTATE · Cap: $8.28B
SBAC
SBA Communications Corp
$221.20
+2.42%
REAL ESTATE · Cap: $22.91B
Smart Verdict
WallStSmart Research — data-driven comparison
SBA Communications Corp generates 204% more annual revenue ($2.82B vs $926.21M). NNN leads profitability with a 42.1% profit margin vs 37.4%. NNN appears more attractively valued with a PEG of 4.80. SBAC earns a higher WallStSmart Score of 54/100 (C-).
NNN
Buy54
out of 100
Grade: C-
SBAC
Buy54
out of 100
Grade: C-
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+43.5%
Fair Value
$76.27
Current Price
$43.52
$32.75 discount
Margin of Safety
+12.1%
Fair Value
$217.30
Current Price
$221.20
$3.90 discount
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Keeps 42 of every $100 in revenue as profit
Strong operational efficiency at 62.2%
Reasonable price relative to book value
Keeps 37 of every $100 in revenue as profit
Strong operational efficiency at 52.4%
Earnings expanding 115.6% YoY
Areas to Watch
Weak financial health signals
Expensive relative to growth rate
Earnings declined 2.2%
Negative free cash flow — burning cash
3.7% revenue growth
ROE of 0.0% — below average capital efficiency
Expensive relative to growth rate
Distress zone — elevated risk
Comparative Analysis Report
WallStSmart ResearchBull Case : NNN
The strongest argument for NNN centers on Profit Margin, Operating Margin, Price/Book. Profitability is solid with margins at 42.1% and operating margin at 62.2%.
Bull Case : SBAC
The strongest argument for SBAC centers on Profit Margin, Operating Margin, EPS Growth. Profitability is solid with margins at 37.4% and operating margin at 52.4%.
Bear Case : NNN
The primary concerns for NNN are Piotroski F-Score, PEG Ratio, EPS Growth.
Bear Case : SBAC
The primary concerns for SBAC are Revenue Growth, Return on Equity, PEG Ratio.
Key Dynamics to Monitor
NNN profiles as a mature stock while SBAC is a value play — different risk/reward profiles.
SBAC carries more volatility with a beta of 0.88 — expect wider price swings.
NNN is growing revenue faster at 9.1% — sustainability is the question.
SBAC generates stronger free cash flow (241M), providing more financial flexibility.
Bottom Line
NNN scores higher overall (54/100 vs 54/100), backed by strong 42.1% margins. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.
This analysis is generated from publicly available financial data. Not financial advice.
National Retail Properties Inc
REAL ESTATE · REIT - RETAIL · USA
National Retail Properties invests primarily in high-quality retail properties generally subject to long-term net leases.
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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