Stocktoria

SBA COMMUNICATIONS CORP SBAC

Nasdaq · reit · Real Estate Investment Trusts · website · IPO 1999-06-16 · LEI

SBA COMMUNICATIONS CORP statistics & valuation

Market cap$19.0B
P / E18.1×
P / S6.8×
P / FCF17.9×
Dividend yield2.52%
Net margin37.4%
FCF margin37.9%
Net debt$12.6B
Net debt / EBITDA7.7×
Enterprise value USD$31.7B
EV / EBITDA19.4×
Earnings yield EBIT/EV4.2%
Return on capital15.1%

Market cap as of 2026-06-30. Multiples are price-derived and refreshed daily; everything else from the latest financial reports.

Profitability & efficiency

Net margin (%)
4.70% 6.00% 2.50% 7.30% 1.20% 10.30% 17.50% 18.50% 28.00% 37.40% 2016201720182019202020212022202320242025
Gross margin (%)
74.20% 74.20% 74.90% 75.50% 77.10% 76.40% 74.60% 77.40% 78.30% 75.50% 2016201720182019202020212022202320242025
Operating margin (%)
23.70% 26.50% 29.20% 29.00% 30.40% 33.90% 35.10% 34.10% 53.60% 47.70% 2016201720182019202020212022202320242025
Return on equity (%)
2016201720182019202020212022202320242025
Shares outstanding
125.1M 121.0M 116.5M 114.7M 113.5M 111.2M 109.4M 108.9M 108.1M 107.5M 2016201720182019202020212022202320242025
Net debt ($)
$8.63B $9.24B $9.80B $10.23B $10.79B $11.94B $12.72B $12.12B $13.40B $12.64B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
1.00% 1.40% 0.70% 1.50% 0.30% 2.40% 4.40% 4.90% 6.60% 9.10% 2016201720182019202020212022202320242025
Free cash flow margin (%)
36.90% 38.90% 37.60% 40.50% 47.90% 45.70% 40.70% 48.20% 41.30% 37.90% 2016201720182019202020212022202320242025
Debt / equity (×)
2016201720182019202020212022202320242025
EPS ($)
$0.61 $0.86 $0.41 $1.28 $0.21 $2.14 $4.22 $4.61 $6.94 $9.80 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

SBA COMMUNICATIONS CORP trades at about 19× earnings — below its 10-year norm (10-year range 18.8×–1279.4×, median 172.6×).

18.8× 1279.4×

Shaded band = 10-year range (18.8×–1279.4×); dot = today's 19×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin75.5%78.3%77.4%74.6%76.4%77.1%75.5%74.9%74.2%74.2%
Operating margin47.7%53.6%34.1%35.1%33.9%30.4%29.0%29.2%26.5%23.7%
Net margin37.4%28.0%18.5%17.5%10.3%1.2%7.3%2.5%6.0%4.7%
FCF margin37.9%41.3%48.2%40.7%45.7%47.9%40.5%37.6%38.9%36.9%
Return on assets9.1%6.6%4.9%4.4%2.4%0.3%1.5%0.7%1.4%1.0%
Return on equity-21.7%-14.7%-9.7%-8.7%-4.5%-0.5%-4.0%-1.4%-4.0%-3.8%
Debt / equity-2.66×-2.66×-2.38×-2.44×-2.33×-2.30×-2.82×-2.94×-3.58×-4.40×
Current ratio0.291.100.360.691.000.770.320.310.930.37

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.