SBAC
SBA Communications Corp
NASDAQ: SBAC · REAL ESTATE · REIT - SPECIALTY
$215.97
-0.74% today
Updated 2026-04-29
Market cap
$22.91B
P/E ratio
22.02
P/S ratio
8.14x
EPS (TTM)
$9.81
Dividend yield
2.04%
52W range
$162 – $240
Volume
1.3M
SBA Communications Corp (SBAC) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $351.10M | $408.20M | $474.95M | $555.51M | $626.62M | $698.17M | $954.08M | $1.30B | $1.53B | $1.64B | $1.63B | $1.73B | $1.87B | $2.01B | $2.08B | $2.31B | $2.63B | $2.71B | $2.68B | $2.82B |
| Revenue growth (YoY) | — | +16.3% | +16.4% | +17.0% | +12.8% | +11.4% | +36.7% | +36.8% | +17.0% | +7.3% | -0.3% | +5.8% | +8.0% | +8.0% | +3.4% | +10.8% | +14.1% | +3.0% | -1.2% | +5.1% |
| Cost of revenue | $156.59M | $163.35M | $168.16M | $180.54M | $199.44M | $202.92M | $319.94M | $427.45M | $436.28M | $456.26M | $434.04M | $458.68M | $479.76M | $508.26M | $493.11M | $573.11M | $695.46M | $634.29M | $607.67M | $1.64B |
| Gross profit | $194.52M | $244.85M | $306.79M | $374.97M | $427.18M | $495.25M | $634.14M | $877.41M | $1.09B | $1.18B | $1.20B | $1.27B | $1.39B | $1.51B | $1.59B | $1.74B | $1.94B | $2.08B | $2.07B | $1.17B |
| Gross margin | 55.4% | 60.0% | 64.6% | 67.5% | 68.2% | 70.9% | 66.5% | 67.2% | 71.4% | 72.2% | 73.4% | 73.5% | 74.3% | 74.8% | 76.3% | 75.2% | 73.6% | 76.6% | 77.3% | 41.6% |
| R&D | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| SG&A | $42.28M | $45.57M | $48.84M | $52.78M | $58.21M | $62.83M | $72.15M | $85.48M | $103.32M | $114.95M | $143.35M | $130.70M | $142.53M | $192.72M | $194.27M | $220.03M | $261.85M | $271.02M | $258.76M | $277.61M |
| Operating income | $19.51M | $30.05M | $45.58M | $54.95M | $74.27M | $110.66M | $153.53M | $229.65M | $336.52M | $312.46M | $387.31M | $458.50M | $544.17M | $583.49M | $633.69M | $782.50M | $925.41M | $923.66M | $1.44B | $1.37B |
| Operating margin | 5.6% | 7.4% | 9.6% | 9.9% | 11.9% | 15.8% | 16.1% | 17.6% | 22.0% | 19.1% | 23.7% | 26.5% | 29.2% | 29.0% | 30.4% | 33.9% | 35.1% | 34.1% | 53.6% | 48.7% |
| EBITDA | $168.66M | $199.28M | $258.07M | $322.19M | $368.97M | $432.42M | $562.00M | $791.94M | $987.40M | $1.06B | $1.07B | $1.13B | $1.24B | $1.31B | $1.39B | $1.51B | $1.68B | $1.79B | $1.79B | $2.19B |
| EBITDA margin | 48.0% | 48.8% | 54.3% | 58.0% | 58.9% | 61.9% | 58.9% | 60.7% | 64.7% | 64.8% | 65.4% | 65.6% | 66.5% | 65.0% | 67.0% | 65.6% | 63.6% | 66.1% | 67.0% | 77.7% |
| EBIT | $19.51M | $22.08M | $46.62M | $63.65M | $90.24M | $123.28M | $153.53M | $258.61M | $360.32M | $401.86M | $429.42M | $490.75M | $569.31M | $613.44M | $672.70M | $813.66M | $968.24M | $1.08B | $1.53B | $1.71B |
| Interest expense | $81.28M | $92.50M | $104.67M | $180.75M | $209.99M | $224.53M | $266.35M | $298.14M | $319.71M | $323.87M | $331.37M | $326.63M | $378.86M | $393.23M | $392.74M | $400.00M | $399.89M | $436.24M | $427.44M | $467.91M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-133.45M | $-77.88M | $-46.76M | $-140.87M | $-194.67M | $-126.46M | $-183.33M | $-55.91M | $-24.30M | $-175.66M | $76.24M | $103.65M | $47.45M | $146.99M | $24.10M | $237.62M | $461.43M | $501.81M | $749.54M | $1.05B |
| Net income growth (YoY) | — | +41.6% | +40.0% | -201.2% | -38.2% | +35.0% | -45.0% | +69.5% | +56.5% | -623.0% | +143.4% | +36.0% | -54.2% | +209.8% | -83.6% | +885.8% | +94.2% | +8.8% | +49.4% | +40.6% |
| Profit margin | -38.0% | -19.1% | -9.8% | -25.4% | -31.1% | -18.1% | -19.2% | -4.3% | -1.6% | -10.7% | 4.7% | 6.0% | 2.5% | 7.3% | 1.2% | 10.3% | 17.5% | 18.5% | 28.0% | 37.4% |