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SBA Communications (SBAC) Financials

SBA Communications logo
$229.03 -1.98 (-0.86%)
Closing price 05/28/2025 04:00 PM Eastern
Extended Trading
$227.17 -1.86 (-0.81%)
As of 08:38 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for SBA Communications

Annual Income Statements for SBA Communications

This table shows SBA Communications' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Income / (Loss) Attributable to Common Shareholders
750 502 461 238 24 147 47 104 76 -176
Consolidated Net Income / (Loss)
749 497 460 238 24 147 47 104 76 -176
Net Income / (Loss) Continuing Operations
749 497 460 238 24 147 47 104 76 -176
Total Pre-Tax Income
773 549 526 253 -18 187 52 117 87 -167
Total Operating Income
1,436 924 925 782 634 583 544 459 387 312
Total Gross Profit
2,098 2,099 1,965 1,763 1,607 1,522 1,397 1,281 1,212 1,194
Total Revenue
2,680 2,712 2,633 2,309 2,083 2,015 1,866 1,728 1,633 1,638
Operating Revenue
2,680 2,712 2,633 2,309 2,083 2,015 1,866 1,728 1,633 1,638
Total Cost of Revenue
582 613 669 545 477 493 469 446 421 444
Operating Cost of Revenue
582 613 669 545 477 493 469 446 421 444
Total Operating Expenses
662 1,175 1,039 981 973 938 853 823 825 882
Selling, General & Admin Expense
259 268 262 220 194 193 143 131 143 115
Depreciation Expense
270 716 708 700 722 697 672 643 638 660
Other Operating Expenses / (Income)
26 22 27 28 17 15 11 12 13 12
Impairment Charge
108 169 43 33 40 33 27 37 30 95
Total Other Income / (Expense), net
-663 -375 -400 -530 -651 -397 -492 -342 -300 -479
Interest Expense
28 36 46 47 25 3.19 2.64 2.88 2.20 2.29
Interest & Investment Income
-358 -382 -344 -349 -365 -385 -369 -312 -318 -318
Other Income / (Expense), net
-278 43 -9.81 -133 -262 -8.87 -120 -26 20 -158
Income Tax Expense
24 51 66 15 -42 40 4.23 13 11 9.06
Net Income / (Loss) Attributable to Noncontrolling Interest
-0.86 -4.40 -1.63 0.00 -0.06 0.29 0.00 0.00 - -
Basic Earnings per Share
$6.96 $4.64 $4.27 $2.17 $0.22 $1.30 $0.41 $0.86 $0.61 ($1.37)
Weighted Average Basic Shares Outstanding
107.64M 108.20M 107.96M 109.33M 111.53M 112.81M 114.91M 119.86M 124.45M 127.79M
Diluted Earnings per Share
$6.94 $4.61 $4.22 $2.14 $0.21 $1.28 $0.41 $0.86 $0.61 ($1.37)
Weighted Average Diluted Shares Outstanding
108.08M 108.91M 109.39M 111.18M 113.47M 114.69M 116.52M 121.02M 125.14M 127.79M
Weighted Average Basic & Diluted Shares Outstanding
107.62M 108.11M 108.04M 107.92M 109.32M 111.93M 115.70M 120.50M 125M 128.20M

Quarterly Income Statements for SBA Communications

This table shows SBA Communications' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders
221 174 259 163 155 110 87 204 101 103 100
Consolidated Net Income / (Loss)
218 179 256 159 155 110 85 202 101 103 100
Net Income / (Loss) Continuing Operations
218 179 256 159 155 110 85 202 101 103 100
Total Pre-Tax Income
260 156 298 147 171 138 93 173 144 129 103
Total Operating Income
335 382 376 354 323 210 249 241 224 235 243
Total Gross Profit
511 542 517 519 520 531 533 524 511 514 498
Total Revenue
664 694 668 660 658 675 683 679 676 686 676
Operating Revenue
664 694 668 660 658 675 683 679 676 686 676
Total Cost of Revenue
154 152 150 141 138 144 150 154 164 172 178
Operating Cost of Revenue
154 152 150 141 138 144 150 154 164 172 178
Total Operating Expenses
176 159 142 165 197 321 284 283 287 279 255
Selling, General & Admin Expense
66 68 60 62 69 68 65 63 72 71 66
Depreciation Expense
65 65 64 64 77 171 181 182 182 183 174
Other Operating Expenses / (Income)
7.38 6.57 5.39 6.57 7.42 5.05 5.61 4.95 6.06 8.03 6.84
Impairment Charge
37 20 13 32 44 77 33 33 26 18 8.53
Total Other Income / (Expense), net
-75 -226 -77 -207 -152 -71 -155 -68 -80 -106 -140
Interest Expense
8.35 4.95 7.19 7.08 8.44 6.21 7.90 7.52 14 12 12
Interest & Investment Income
-93 -90 -89 -90 -89 -93 -94 -97 -98 -97 -84
Other Income / (Expense), net
27 -132 19 -110 -54 28 -53 36 33 2.69 -45
Income Tax Expense
42 -23 42 -12 17 29 7.86 -29 44 26 2.88
Net Income / (Loss) Attributable to Noncontrolling Interest
-2.83 5.16 -2.64 -3.38 0.00 0.00 -2.06 -1.68 -0.66 -0.70 -0.25
Basic Earnings per Share
$2.05 $1.60 $2.41 $1.52 $1.43 $1.01 $0.81 $1.88 $0.94 $0.95 $0.93
Weighted Average Basic Shares Outstanding
107.74M 107.64M 107.49M 107.46M 108.10M 108.20M 108.37M 108.36M 108.13M 107.96M 107.92M
Diluted Earnings per Share
$2.04 $1.61 $2.40 $1.51 $1.42 $1.01 $0.80 $1.87 $0.93 $0.95 $0.91
Weighted Average Diluted Shares Outstanding
108.14M 108.08M 107.92M 107.68M 108.62M 108.91M 108.89M 108.88M 109.27M 109.39M 109.36M
Weighted Average Basic & Diluted Shares Outstanding
107.45M 107.62M 107.52M 107.47M 107.44M 108.11M 107.89M 108.38M 108.34M 108.04M 107.97M

Annual Cash Flow Statements for SBA Communications

This table details how cash moves in and out of SBA Communications' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Change in Cash & Equivalents
1,150 62 -246 93 202 -37 84 -81 39 49
Net Cash From Operating Activities
1,335 1,544 1,286 1,190 1,126 970 851 818 743 723
Net Cash From Continuing Operating Activities
1,335 1,544 1,286 1,190 1,126 970 851 816 743 723
Net Income / (Loss) Continuing Operations
749 497 460 238 24 147 47 104 76 -176
Consolidated Net Income / (Loss)
749 497 460 238 24 147 47 104 76 -176
Depreciation Expense
270 716 708 700 722 697 672 643 638 660
Amortization Expense
21 20 20 20 20 20 20 22 21 19
Non-Cash Adjustments To Reconcile Net Income
579 382 314 390 484 188 173 77 43 255
Changes in Operating Assets and Liabilities, net
-283 -72 -216 -158 -124 -82 -62 -30 -36 -36
Net Cash From Investing Activities
-809 -468 -1,394 -1,423 -446 -947 -618 -605 -428 -737
Net Cash From Continuing Investing Activities
-809 -468 -1,394 -1,423 -446 -947 -618 -605 -428 -737
Purchase of Property, Plant & Equipment
-228 -237 -214 -134 -129 -154 -150 -147 -140 -209
Acquisitions
-311 -230 -1,176 -1,258 -271 -774 -452 -442 -277 -610
Purchase of Investments
-1,801 -1,339 -882 -1,731 -1,289 -639 -157 -0.40 -0.10 -
Sale and/or Maturity of Investments
1,537 1,338 878 1,730 1,239 626 151 0.23 0.71 90
Other Investing Activities, net
-6.32 -0.42 0.52 -31 3.12 -5.81 -11 -16 -12 -8.56
Net Cash From Financing Activities
646 -1,017 -135 339 -469 -62 -149 -295 -289 76
Net Cash From Continuing Financing Activities
646 -1,017 -135 339 -469 -62 -149 -295 -289 76
Repayment of Debt
-3,450 -754 -1,240 -2,260 -2,990 -1,536 -3,542 -1,511 -2,091 -1,072
Repurchase of Common Equity
-200 -100 -432 -583 -859 -467 -796 -855 -546 -601
Payment of Dividends
-424 -370 -307 -254 -208 -83 0.00 0.00 - -
Issuance of Debt
4,703 190 1,815 3,420 3,710 1,907 4,129 2,016 2,349 1,749
Issuance of Common Equity
36 44 38 87 99 130 60 55 - -
Other Financing Activities, net
-19 -27 -9.96 -72 -221 -14 0.00 - - -
Effect of Exchange Rate Changes
-22 2.73 -2.92 -13 -8.96 2.25 - - 14 -13
Cash Interest Paid
395 397 348 361 352 387 377 320 338 322
Cash Income Taxes Paid
42 26 32 26 20 22 22 15 9.66 9.43

Quarterly Cash Flow Statements for SBA Communications

This table details how cash moves in and out of SBA Communications' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents
-737 1,149 -32 19 13 19 -23 62 3.90 -91 29
Net Cash From Operating Activities
301 310 305 426 294 433 314 487 311 289 332
Net Cash From Continuing Operating Activities
301 310 305 426 294 433 314 487 311 289 332
Net Income / (Loss) Continuing Operations
218 179 256 159 155 110 85 202 101 103 100
Consolidated Net Income / (Loss)
218 179 256 159 155 110 85 202 101 103 100
Depreciation Expense
65 65 64 64 77 171 181 182 182 183 174
Non-Cash Adjustments To Reconcile Net Income
69 174 48 197 159 102 150 58 72 64 126
Changes in Operating Assets and Liabilities, net
-50 -129 -63 5.23 -96 30 -103 45 -44 -80 -67
Net Cash From Investing Activities
238 -329 -274 -121 -85 -106 -104 -112 -147 -802 -106
Net Cash From Continuing Investing Activities
238 -329 -274 -121 -85 -106 -104 -112 -147 -802 -106
Purchase of Property, Plant & Equipment
-46 -56 -65 -50 -58 -63 -61 -63 -49 -66 -57
Acquisitions
-63 -43 -207 -42 -19 -138 -53 -20 -20 -757 -65
Purchase of Investments
-228 -596 -523 -369 -312 -334 -378 -414 -213 -375 -225
Divestitures
40 - - - - - - - - - -
Sale and/or Maturity of Investments
416 358 528 341 311 333 398 394 213 395 240
Other Investing Activities, net
120 7.72 -5.94 -0.90 -7.20 94 -9.39 -8.19 -77 1.02 1.65
Net Cash From Financing Activities
-1,282 1,180 -66 -277 -191 -312 -231 -314 -161 431 -190
Net Cash From Continuing Financing Activities
-1,282 1,180 -66 -277 -191 -312 -231 -314 -161 431 -190
Repayment of Debt
-1,172 -781 -141 -151 -2,376 -197 -137 -229 -192 -982 -127
Repurchase of Common Equity
0.00 - - -94 -106 -46 -54 - 0.00 - -
Payment of Dividends
-122 -105 -105 -105 -108 -92 -92 -92 -94 -77 -77
Issuance of Debt
0.00 2,058 175 70 2,400 - 50 - 140 1,485 -
Issuance of Common Equity
36 8.84 5.84 4.21 17 23 1.75 7.37 12 4.56 14
Other Financing Activities, net
-24 -0.61 -0.13 -0.26 -18 -0.01 -0.10 -0.72 -27 -0.05 -0.28
Effect of Exchange Rate Changes
6.14 -12 3.51 -9.05 -4.35 4.18 -2.80 1.14 0.22 -7.48 -7.89
Cash Interest Paid
132 80 122 72 121 71 124 74 127 70 109
Cash Income Taxes Paid
7.45 16 8.76 9.80 7.42 5.29 4.13 9.16 7.00 13 4.79

Annual Balance Sheets for SBA Communications

This table presents SBA Communications' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Total Assets
11,417 10,178 10,585 9,802 9,158 9,760 7,214 7,320 7,361 7,313
Total Current Assets
1,979 484 483 614 473 334 374 260 325 294
Cash & Equivalents
190 209 144 367 309 108 143 69 146 118
Restricted Cash
1,207 38 42 66 32 30 32 33 37 25
Accounts Receivable
146 183 184 102 74 132 111 108 89 100
Prepaid Expenses
417 39 33 31 24 37 63 50 52 50
Other Current Assets
19 16 80 49 35 26 24 - - -
Plant, Property, & Equipment, net
2,792 2,712 2,714 2,575 2,677 2,795 2,786 2,812 2,792 2,782
Total Noncurrent Assets
6,647 6,982 7,389 6,612 6,008 6,631 4,053 4,248 4,244 4,237
Noncurrent Note & Lease Receivables
2,292 2,241 2,382 - 2,369 - - - - -
Intangible Assets
2,389 2,456 2,776 2,803 3,156 3,627 3,331 3,598 3,657 3,735
Other Noncurrent Operating Assets
1,965 2,286 2,230 3,809 482 3,004 722 650 587 501
Total Liabilities & Shareholders' Equity
11,417 10,178 10,585 9,802 9,158 9,760 7,214 7,320 7,361 7,313
Total Liabilities
16,473 15,314 15,830 15,068 13,967 13,411 10,591 9,919 9,357 9,019
Total Current Liabilities
1,798 1,363 697 616 615 1,048 1,206 279 873 273
Short-Term Debt
1,188 643 24 24 24 522 942 20 627 20
Accounts Payable
60 42 51 34 110 32 34 33 28 27
Accrued Expenses
82 93 101 68 63 68 64 70 61 64
Current Deferred Revenue
127 236 155 184 113 114 108 98 101 97
Other Current Liabilities
279 292 311 257 250 264 9.80 8.84 11 12
Other Current Nonoperating Liabilities
62 57 54 49 54 49 49 49 45 53
Total Noncurrent Liabilities
14,675 13,951 15,133 14,452 13,352 12,363 9,384 9,640 8,483 8,746
Long-Term Debt
12,404 11,681 12,844 12,279 11,072 9,812 8,997 9,291 8,148 8,432
Other Noncurrent Operating Liabilities
2,271 2,270 2,289 2,173 2,281 2,550 387 350 335 314
Redeemable Noncontrolling Interest
54 35 32 17 15 16 0.00 - - -
Total Equity & Noncontrolling Interests
-5,110 -5,171 -5,276 -5,283 -4,824 -3,667 -3,377 -2,599 -1,996 -1,706
Total Preferred & Common Equity
-5,110 -5,171 -5,276 -5,283 -4,824 -3,667 -3,377 -2,599 -1,996 -1,706
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
-5,110 -5,171 -5,276 -5,283 -4,825 -3,667 -3,377 -2,599 -1,996 -1,706
Common Stock
2,977 2,895 2,796 2,682 2,586 2,462 2,271 2,169 2,012 1,964
Retained Earnings
-7,326 -7,451 -7,482 -7,204 -6,604 -5,561 -5,136 -4,388 -3,637 -3,168
Accumulated Other Comprehensive Income / (Loss)
-760 -615 -591 -762 -808 -569 -512 -379 -370 -502

Quarterly Balance Sheets for SBA Communications

This table presents SBA Communications' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Total Assets
10,443 11,417 10,202 9,786 9,995 10,178 10,334 10,604 10,542 10,585 9,949
Total Current Assets
933 1,979 450 460 448 484 460 519 472 483 530
Cash & Equivalents
636 190 186 221 240 209 191 179 153 144 201
Restricted Cash
23 1,207 61 58 20 38 37 72 37 42 75
Accounts Receivable
130 146 111 89 127 183 158 160 183 184 117
Prepaid Expenses
117 417 67 73 44 39 46 65 40 33 55
Other Current Assets
27 19 25 20 17 16 28 42 59 80 82
Plant, Property, & Equipment, net
2,819 2,792 2,784 2,720 2,710 2,712 2,701 2,712 2,710 2,714 2,658
Total Noncurrent Assets
6,691 6,647 6,967 6,606 6,838 6,982 7,173 7,374 7,360 7,389 6,761
Noncurrent Note & Lease Receivables
2,340 2,292 2,323 2,129 2,186 2,241 2,316 2,362 2,377 2,382 2,325
Intangible Assets
2,403 2,389 2,492 2,314 2,404 2,456 2,524 2,628 2,694 2,776 2,702
Other Noncurrent Operating Assets
1,948 1,965 2,152 2,163 2,248 2,286 2,334 2,383 2,290 2,230 1,734
Total Liabilities & Shareholders' Equity
10,443 11,417 10,202 9,786 9,995 10,178 10,334 10,604 10,542 10,585 9,949
Total Liabilities
15,351 16,473 15,327 15,062 15,182 15,314 15,466 15,659 15,772 15,830 15,273
Total Current Liabilities
1,343 1,798 668 2,460 2,413 1,363 663 738 639 697 1,338
Short-Term Debt
772 1,188 23 1,806 1,805 643 24 24 24 24 663
Accounts Payable
65 60 54 51 46 42 47 47 54 51 51
Accrued Expenses
75 82 89 76 77 93 93 84 93 101 96
Current Deferred Revenue
110 127 184 191 161 236 176 230 145 155 217
Other Current Liabilities
286 279 285 277 291 292 294 298 295 311 286
Other Current Nonoperating Liabilities
35 62 32 58 33 57 30 55 28 54 25
Total Noncurrent Liabilities
14,008 14,675 14,660 12,603 12,768 13,951 14,802 14,921 15,134 15,133 13,935
Long-Term Debt
11,654 12,404 12,296 10,474 10,551 11,681 12,491 12,572 12,798 12,844 11,696
Other Noncurrent Operating Liabilities
2,354 2,271 2,363 2,129 2,218 2,270 2,311 2,349 2,336 2,289 2,239
Redeemable Noncontrolling Interest
63 54 49 41 37 35 35 38 38 32 41
Total Equity & Noncontrolling Interests
-4,971 -5,110 -5,175 -5,317 -5,223 -5,171 -5,166 -5,092 -5,269 -5,276 -5,365
Total Preferred & Common Equity
-4,971 -5,110 -5,175 -5,317 -5,223 -5,171 -5,166 -5,092 -5,269 -5,276 -5,365
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
-4,971 -5,110 -5,175 -5,317 -5,223 -5,171 -5,166 -5,092 -5,269 -5,276 -5,366
Common Stock
2,992 2,977 2,943 2,931 2,916 2,895 2,850 2,826 2,801 2,796 2,756
Retained Earnings
-7,226 -7,326 -7,394 -7,546 -7,509 -7,451 -7,422 -7,363 -7,474 -7,482 -7,508
Accumulated Other Comprehensive Income / (Loss)
-737 -760 -724 -702 -630 -615 -594 -556 -596 -591 -614

Annual Metrics And Ratios for SBA Communications

This table displays calculated financial ratios and metrics derived from SBA Communications' official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Growth Metrics
- - - - - - - - - -
Revenue Growth
-1.18% 2.97% 14.06% 10.83% 3.40% 7.98% 7.99% 5.79% -0.33% 7.30%
EBITDA Growth
-14.92% 3.65% 20.03% 22.87% -13.78% 15.75% 1.73% 2.83% 28.05% -14.46%
EBIT Growth
19.84% 5.55% 41.05% 74.49% -35.26% 35.58% -1.94% 5.99% 164.49% -53.22%
NOPAT Growth
66.09% 3.52% 9.91% 65.97% -3.53% -7.96% 22.88% 20.21% 54.64% -7.15%
Net Income Growth
50.51% 8.18% 93.50% 888.16% -83.67% 210.39% -54.22% 35.96% 143.40% -623.01%
EPS Growth
50.54% 9.24% 97.20% 919.05% -83.59% 212.20% -52.33% 40.98% 144.53% -621.05%
Operating Cash Flow Growth
-13.57% 20.12% 8.05% 5.67% 16.08% 14.04% 3.93% 10.23% 2.70% 7.22%
Free Cash Flow Firm Growth
-10.64% 4,518.38% -135.79% -91.89% 245.46% -58.53% 86.03% 10.49% -43.56% 178.73%
Invested Capital Growth
2.89% -6.58% 12.62% 10.87% -9.00% 2.48% -3.37% 0.26% -0.21% -5.74%
Revenue Q/Q Growth
0.70% -0.41% 3.57% 2.64% 1.08% 1.50% 2.23% 1.56% 0.59% 0.13%
EBITDA Q/Q Growth
-4.75% 0.53% 8.49% -6.00% 7.43% 3.42% 10.04% 4.54% -5.97% 4.27%
EBIT Q/Q Growth
1.11% 0.03% 11.66% -12.94% 17.76% 2.18% 21.41% 11.15% -13.70% 28.45%
NOPAT Q/Q Growth
22.43% -2.98% -0.08% 14.72% 1.80% 1.71% 39.15% 4.87% 0.51% -4.42%
Net Income Q/Q Growth
10.19% 1.42% 13.22% -19.42% 264.90% 7.60% 2,426.03% 2.37% -25.25% 14.85%
EPS Q/Q Growth
9.46% 1.32% 13.44% -18.94% 231.25% 6.67% 1,466.67% 2.38% -25.61% 15.43%
Operating Cash Flow Q/Q Growth
-8.40% 10.28% -0.77% 4.89% -1.91% 4.14% -0.06% 1.45% 3.77% -0.10%
Free Cash Flow Firm Q/Q Growth
-11.54% 188.51% -104.27% 192.82% 55.43% -59.27% 61.74% -24.70% 28.00% 94.73%
Invested Capital Q/Q Growth
3.20% -2.60% 10.44% -0.38% 0.92% 6.75% -0.43% 1.65% -0.58% 0.56%
Profitability Metrics
- - - - - - - - - -
Gross Margin
78.29% 77.41% 74.61% 76.37% 77.12% 75.53% 74.87% 74.17% 74.23% 72.88%
EBITDA Margin
54.07% 62.81% 62.39% 59.29% 53.48% 64.13% 59.83% 63.51% 65.34% 50.86%
Operating Margin
53.58% 34.06% 35.14% 33.89% 30.42% 28.96% 29.17% 26.54% 23.72% 19.07%
EBIT Margin
43.22% 35.64% 34.77% 28.11% 17.86% 28.52% 22.72% 25.02% 24.97% 9.41%
Profit (Net Income) Margin
27.94% 18.34% 17.46% 10.29% 1.15% 7.31% 2.54% 6.00% 4.67% -10.72%
Tax Burden Percent
96.90% 90.69% 87.44% 94.08% -135.48% 78.81% 91.81% 88.68% 87.33% 105.44%
Interest Burden Percent
66.72% 56.76% 57.43% 38.91% -4.77% 32.52% 12.20% 27.05% 21.41% -108.06%
Effective Tax Rate
3.10% 9.31% 12.56% 5.92% 0.00% 21.19% 8.19% 11.32% 12.67% 0.00%
Return on Invested Capital (ROIC)
19.59% 11.56% 11.44% 11.64% 7.04% 7.06% 7.63% 6.11% 5.09% 3.19%
ROIC Less NNEP Spread (ROIC-NNEP)
14.32% 8.82% 8.61% 7.25% 3.06% 3.94% 2.89% 2.73% 2.01% -1.72%
Return on Net Nonoperating Assets (RNNOA)
-34.28% -21.14% -20.19% -16.35% -7.61% -11.25% -9.22% -10.63% -9.21% 11.65%
Return on Equity (ROE)
-14.69% -9.58% -8.75% -4.72% -0.57% -4.19% -1.59% -4.51% -4.12% 14.84%
Cash Return on Invested Capital (CROIC)
16.74% 18.36% -0.43% 1.33% 16.47% 4.61% 11.06% 5.85% 5.30% 9.10%
Operating Return on Assets (OROA)
10.73% 9.31% 8.98% 6.85% 3.93% 6.77% 5.83% 5.89% 5.56% 2.03%
Return on Assets (ROA)
6.93% 4.79% 4.51% 2.51% 0.25% 1.74% 0.65% 1.41% 1.04% -2.32%
Return on Common Equity (ROCE)
-14.82% -9.65% -8.79% -4.73% -0.57% -4.20% -1.59% -4.51% -4.12% 14.84%
Return on Equity Simple (ROE_SIMPLE)
-14.65% -9.62% -8.71% -4.50% -0.50% -4.02% -1.41% -3.99% -3.82% 10.30%
Net Operating Profit after Tax (NOPAT)
1,391 838 809 736 444 460 500 407 338 219
NOPAT Margin
51.92% 30.89% 30.73% 31.89% 21.29% 22.82% 26.78% 23.53% 20.71% 13.35%
Net Nonoperating Expense Percent (NNEP)
5.27% 2.74% 2.83% 4.39% 3.99% 3.12% 4.74% 3.39% 3.08% 4.90%
Return On Investment Capital (ROIC_SIMPLE)
16.40% 11.71% 10.66% - - - - - - -
Cost of Revenue to Revenue
21.71% 22.59% 25.39% 23.63% 22.88% 24.47% 25.13% 25.83% 25.77% 27.12%
SG&A Expenses to Revenue
9.66% 9.88% 9.94% 9.53% 9.33% 9.57% 7.64% 7.56% 8.78% 7.02%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
24.71% 43.34% 39.47% 42.48% 46.70% 46.57% 45.71% 47.63% 50.51% 53.81%
Earnings before Interest and Taxes (EBIT)
1,158 966 916 649 372 575 424 432 408 154
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
1,449 1,703 1,643 1,369 1,114 1,292 1,116 1,097 1,067 833
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
8.18 9.91 11.12 17.65 14.38 12.79 9.31 10.52 7.43 7.66
Price to Earnings (P/E)
29.24 53.55 63.45 171.53 1,243.03 175.33 366.12 175.43 159.14 0.00
Dividend Yield
1.92% 1.37% 1.05% 0.62% 0.69% 0.32% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
3.42% 1.87% 1.58% 0.58% 0.08% 0.57% 0.27% 0.57% 0.63% 0.00%
Enterprise Value to Invested Capital (EV/IC)
4.74 5.57 5.60 7.91 6.79 5.46 4.22 4.11 3.12 3.13
Enterprise Value to Revenue (EV/Rev)
12.75 14.38 15.95 22.80 19.55 17.86 14.54 15.86 12.69 12.73
Enterprise Value to EBITDA (EV/EBITDA)
23.58 22.89 25.56 38.46 36.56 27.85 24.31 24.97 19.42 25.03
Enterprise Value to EBIT (EV/EBIT)
29.50 40.34 45.86 81.10 109.49 62.62 64.03 63.38 50.83 135.31
Enterprise Value to NOPAT (EV/NOPAT)
24.56 46.54 51.89 71.51 91.83 78.26 54.31 67.37 61.28 95.37
Enterprise Value to Operating Cash Flow (EV/OCF)
25.59 25.24 32.66 44.24 36.17 37.10 31.90 33.47 27.91 28.85
Enterprise Value to Free Cash Flow (EV/FCFF)
28.74 29.30 0.00 625.71 39.28 119.87 37.49 70.40 58.85 33.43
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
-2.69 -2.40 -2.45 -2.34 -2.31 -2.83 -2.94 -3.58 -4.40 -4.95
Long-Term Debt to Equity
-2.45 -2.27 -2.45 -2.33 -2.30 -2.69 -2.66 -3.57 -4.08 -4.94
Financial Leverage
-2.39 -2.40 -2.35 -2.26 -2.49 -2.85 -3.19 -3.89 -4.59 -6.79
Leverage Ratio
-2.12 -2.00 -1.94 -1.88 -2.24 -2.42 -2.43 -3.20 -3.96 -6.40
Compound Leverage Factor
-1.41 -1.14 -1.11 -0.73 0.11 -0.79 -0.30 -0.86 -0.85 6.92
Debt to Total Capital
159.23% 171.45% 168.79% 174.84% 176.50% 154.63% 151.46% 138.73% 129.44% 125.29%
Short-Term Debt to Total Capital
13.92% 8.95% 0.31% 0.34% 0.38% 7.81% 14.35% 0.30% 9.25% 0.30%
Long-Term Debt to Total Capital
145.31% 162.50% 168.48% 174.50% 176.12% 146.82% 137.11% 138.43% 120.19% 125.00%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.63% 0.49% 0.42% 0.25% 0.24% 0.24% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
-59.86% -71.93% -69.21% -75.09% -76.76% -54.87% -51.46% -38.73% -29.44% -25.29%
Debt to EBITDA
9.38 7.24 7.83 8.99 9.96 8.00 8.90 8.49 8.22 10.14
Net Debt to EBITDA
8.42 7.09 7.72 8.67 9.65 7.89 8.75 8.39 8.05 9.97
Long-Term Debt to EBITDA
8.56 6.86 7.82 8.97 9.94 7.59 8.06 8.47 7.64 10.12
Debt to NOPAT
9.77 14.71 15.90 16.71 25.01 22.47 19.89 22.90 25.95 38.64
Net Debt to NOPAT
8.77 14.42 15.67 16.12 24.25 22.17 19.54 22.65 25.41 37.98
Long-Term Debt to NOPAT
8.92 13.95 15.87 16.68 24.96 21.34 18.01 22.85 24.09 38.55
Altman Z-Score
0.49 0.50 0.63 1.05 0.62 0.67 0.30 0.69 0.40 0.53
Noncontrolling Interest Sharing Ratio
-0.88% -0.64% -0.47% -0.33% -0.38% -0.23% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
1.10 0.36 0.69 1.00 0.77 0.32 0.31 0.93 0.37 1.08
Quick Ratio
0.19 0.29 0.47 0.76 0.62 0.23 0.21 0.63 0.27 0.80
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
1,189 1,330 -30 84 1,037 300 724 389 352 624
Operating Cash Flow to CapEx
585.09% 652.47% 599.55% 890.01% 875.84% 628.94% 567.79% 556.62% 530.44% 346.43%
Free Cash Flow to Firm to Interest Expense
42.98 37.09 -0.65 1.79 41.70 94.02 274.17 135.15 159.85 272.71
Operating Cash Flow to Interest Expense
48.26 43.06 27.88 25.27 45.28 303.80 322.20 284.29 337.05 316.01
Operating Cash Flow Less CapEx to Interest Expense
40.01 36.46 23.23 22.43 40.11 255.50 265.46 233.22 273.51 224.79
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.25 0.26 0.26 0.24 0.22 0.24 0.26 0.24 0.22 0.22
Accounts Receivable Turnover
16.32 14.77 18.40 26.23 20.20 16.57 17.03 17.49 17.22 13.97
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.97 1.00 1.00 0.88 0.76 0.72 0.67 0.62 0.59 0.59
Accounts Payable Turnover
11.43 13.09 15.64 7.57 6.72 14.91 13.86 14.48 15.19 12.71
Days Sales Outstanding (DSO)
22.37 24.71 19.84 13.91 18.07 22.03 21.44 20.87 21.20 26.13
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
31.92 27.89 23.33 48.19 54.31 24.49 26.33 25.21 24.03 28.73
Cash Conversion Cycle (CCC)
-9.55 -3.18 -3.49 -34.27 -36.25 -2.46 -4.90 -4.34 -2.83 -2.60
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
7,202 6,999 7,492 6,653 6,001 6,594 6,435 6,659 6,641 6,655
Invested Capital Turnover
0.38 0.37 0.37 0.36 0.33 0.31 0.29 0.26 0.25 0.24
Increase / (Decrease) in Invested Capital
202 -493 839 652 -593 160 -224 17 -14 -405
Enterprise Value (EV)
34,162 38,984 41,992 52,646 40,733 35,985 27,136 27,393 20,725 20,860
Market Capitalization
21,913 26,871 29,278 40,759 29,962 25,773 17,373 18,184 12,132 12,552
Book Value per Share
($47.52) ($47.93) ($48.87) ($48.57) ($43.43) ($32.57) ($29.80) ($22.11) ($16.09) ($13.52)
Tangible Book Value per Share
($69.74) ($70.69) ($74.59) ($74.34) ($71.83) ($64.78) ($59.20) ($52.72) ($45.56) ($43.14)
Total Capital
8,536 7,188 7,624 7,037 6,287 6,683 6,562 6,712 6,780 6,746
Total Debt
13,592 12,324 12,868 12,303 11,096 10,334 9,939 9,311 8,776 8,452
Total Long-Term Debt
12,404 11,681 12,844 12,279 11,072 9,812 8,997 9,291 8,148 8,432
Net Debt
12,195 12,078 12,682 11,870 10,756 10,196 9,763 9,209 8,593 8,308
Capital Expenditures (CapEx)
228 237 214 134 129 154 150 147 140 209
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-28 -483 -376 -411 -458 -330 -67 -101 -105 -104
Debt-free Net Working Capital (DFNWC)
1,369 -236 -190 22 -118 -192 109 0.63 78 41
Net Working Capital (NWC)
181 -879 -214 -1.89 -142 -714 -832 -19 -549 21
Net Nonoperating Expense (NNE)
643 340 349 499 420 313 452 303 262 394
Net Nonoperating Obligations (NNO)
12,257 12,135 12,737 11,919 10,810 10,245 9,811 9,258 8,637 8,361
Total Depreciation and Amortization (D&A)
291 737 727 720 742 717 692 665 659 679
Debt-free, Cash-free Net Working Capital to Revenue
-1.04% -17.79% -14.27% -17.79% -21.99% -16.40% -3.57% -5.85% -6.41% -6.32%
Debt-free Net Working Capital to Revenue
51.08% -8.70% -7.22% 0.96% -5.66% -9.53% 5.86% 0.04% 4.79% 2.48%
Net Working Capital to Revenue
6.75% -32.42% -8.13% -0.08% -6.81% -35.44% -44.62% -1.12% -33.61% 1.26%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$6.96 $4.64 $4.27 $2.17 $0.22 $1.30 $0.41 $0.86 $0.61 ($1.37)
Adjusted Weighted Average Basic Shares Outstanding
107.64M 108.20M 107.96M 109.33M 111.53M 112.81M 114.91M 119.86M 124.45M 125.26M
Adjusted Diluted Earnings per Share
$6.94 $4.61 $4.22 $2.14 $0.21 $1.28 $0.41 $0.86 $0.61 ($1.37)
Adjusted Weighted Average Diluted Shares Outstanding
108.08M 108.91M 109.39M 111.18M 113.47M 114.69M 116.52M 121.02M 125.14M 125.26M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $1.30 $0.00 $0.00 $0.00 ($1.37)
Adjusted Weighted Average Basic & Diluted Shares Outstanding
107.62M 108.11M 108.04M 107.92M 109.32M 111.93M 112.59M 116.51M 120.98M 127.79M
Normalized Net Operating Profit after Tax (NOPAT)
1,496 991 847 767 472 486 525 439 365 285
Normalized NOPAT Margin
55.82% 36.56% 32.16% 33.23% 22.64% 24.12% 28.11% 25.42% 22.33% 17.40%
Pre Tax Income Margin
28.83% 20.23% 19.97% 10.94% -0.85% 9.28% 2.77% 6.77% 5.35% -10.17%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
41.87 26.94 19.86 13.79 14.96 179.96 160.53 150.12 185.09 67.38
NOPAT to Interest Expense
50.29 23.35 17.55 15.64 17.84 144.01 189.24 141.22 153.53 95.59
EBIT Less CapEx to Interest Expense
33.62 20.35 15.21 10.95 9.79 131.66 103.79 99.04 121.55 -23.84
NOPAT Less CapEx to Interest Expense
42.05 16.75 12.90 12.80 12.67 95.71 132.49 90.15 89.99 4.38
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
56.66% 74.38% 66.72% 106.71% 863.68% 56.62% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
83.38% 94.48% 160.60% 351.88% 4,437.24% 373.68% 1,676.64% 824.41% 715.77% -342.12%

Quarterly Metrics And Ratios for SBA Communications

This table displays calculated financial ratios and metrics derived from SBA Communications' official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
0.97% 2.77% -2.19% -2.66% -2.61% -1.61% 1.03% 4.06% 8.99% 15.26% 14.64%
EBITDA Growth
23.41% -22.88% 21.76% -32.67% -21.27% -2.70% 1.01% 36.40% -11.18% 34.89% 20.83%
EBIT Growth
34.44% 5.36% 101.92% -11.64% 4.78% 0.12% -1.56% 73.16% -19.79% 67.44% 44.69%
NOPAT Growth
-3.66% 164.32% 41.58% 36.26% 86.28% -11.21% -3.61% 15.78% -12.32% -6.40% -13.76%
Net Income Growth
41.00% 63.24% 199.77% -21.05% 53.69% 6.77% -14.43% 192.07% -46.60% 109.77% 108.72%
EPS Growth
43.66% 59.41% 200.00% -19.25% 52.69% 6.32% -12.09% 192.19% -45.93% 111.11% 111.63%
Operating Cash Flow Growth
2.28% -28.30% -2.88% -12.60% -5.37% 49.88% -5.65% 30.86% 6.39% -3.33% 31.39%
Free Cash Flow Firm Growth
-57.67% -64.15% 403.47% 630.66% 328.68% 200.96% -233.54% -190.57% -847.78% -44.21% 128.51%
Invested Capital Growth
-0.71% 2.89% -2.89% -7.65% -6.56% -6.58% 5.93% 6.69% 7.17% 12.62% 1.58%
Revenue Q/Q Growth
-4.25% 3.91% 1.08% 0.40% -2.54% -1.10% 0.60% 0.44% -1.54% 1.56% 3.62%
EBITDA Q/Q Growth
35.27% -31.07% 48.17% -10.67% -15.47% 8.83% -18.07% 4.47% 4.46% 12.98% 10.64%
EBIT Q/Q Growth
44.45% -36.47% 61.07% -9.04% 13.19% 21.75% -29.52% 7.87% 8.16% 19.71% 23.99%
NOPAT Q/Q Growth
-35.98% 36.07% -16.11% 31.83% 75.66% -27.12% -19.27% 80.23% -16.27% -20.88% -3.02%
Net Income Q/Q Growth
21.88% -30.13% 60.48% 3.18% 41.10% 28.31% -57.74% 100.86% -1.98% 2.82% 44.27%
EPS Q/Q Growth
26.71% -32.92% 58.94% 6.34% 40.59% 26.25% -57.22% 101.08% -2.11% 4.40% 42.19%
Operating Cash Flow Q/Q Growth
-2.90% 1.81% -28.42% 44.54% -31.94% 37.91% -35.58% 56.49% 7.81% -13.18% -10.65%
Free Cash Flow Firm Q/Q Growth
39.61% -55.43% -44.00% 21.46% 18.27% 477.26% 2.07% 47.66% 47.79% -599.03% -33.58%
Invested Capital Q/Q Growth
-4.28% 3.20% 2.88% -2.29% -0.82% -2.60% -2.17% -1.14% -0.83% 10.44% -1.47%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
76.87% 78.07% 77.48% 78.61% 79.02% 78.62% 78.06% 77.27% 75.68% 74.91% 73.72%
EBITDA Margin
64.24% 45.47% 68.55% 46.76% 52.55% 60.60% 55.07% 67.61% 65.01% 61.27% 55.08%
Operating Margin
50.42% 55.12% 56.26% 53.67% 49.15% 31.06% 36.42% 35.55% 33.18% 34.20% 35.97%
EBIT Margin
54.44% 36.09% 59.03% 37.05% 40.89% 35.20% 28.60% 40.81% 38.00% 34.59% 29.35%
Profit (Net Income) Margin
32.80% 25.77% 38.33% 24.14% 23.49% 16.23% 12.51% 29.77% 14.89% 14.95% 14.77%
Tax Burden Percent
83.83% 114.70% 85.81% 108.39% 90.13% 79.12% 91.57% 116.89% 69.80% 79.63% 97.19%
Interest Burden Percent
71.87% 62.26% 75.67% 60.13% 63.75% 58.25% 47.76% 62.40% 56.12% 54.28% 51.77%
Effective Tax Rate
16.17% -14.70% 14.19% -8.39% 9.87% 20.88% 8.43% -16.89% 30.20% 20.37% 2.81%
Return on Invested Capital (ROIC)
16.41% 23.86% 18.14% 22.04% 16.61% 9.20% 13.00% 15.86% 8.67% 10.14% 13.20%
ROIC Less NNEP Spread (ROIC-NNEP)
15.89% 21.73% 17.60% 20.20% 15.50% 8.74% 11.84% 15.21% 8.23% 9.46% 12.06%
Return on Net Nonoperating Assets (RNNOA)
-37.66% -52.00% -41.89% -47.82% -36.89% -20.95% -27.65% -35.92% -19.35% -22.18% -27.86%
Return on Equity (ROE)
-21.25% -28.15% -23.75% -25.78% -20.28% -11.75% -14.65% -20.06% -10.68% -12.04% -14.66%
Cash Return on Invested Capital (CROIC)
20.44% 16.74% 18.98% 22.83% 20.41% 18.36% 6.60% 5.73% 4.03% -0.43% 10.47%
Operating Return on Assets (OROA)
14.31% 8.96% 15.30% 9.72% 10.73% 9.19% 7.68% 10.75% 9.88% 8.94% 7.61%
Return on Assets (ROA)
8.62% 6.40% 9.93% 6.34% 6.16% 4.24% 3.36% 7.84% 3.87% 3.86% 3.83%
Return on Common Equity (ROCE)
-21.46% -28.39% -23.95% -25.98% -20.43% -11.83% -14.76% -20.21% -10.75% -12.10% -14.74%
Return on Equity Simple (ROE_SIMPLE)
-16.34% 0.00% -13.13% -9.57% -10.56% 0.00% -9.49% -9.91% -7.06% 0.00% -7.57%
Net Operating Profit after Tax (NOPAT)
281 439 322 384 291 166 228 282 156 187 236
NOPAT Margin
42.27% 63.22% 48.28% 58.17% 44.30% 24.58% 33.35% 41.56% 23.16% 27.23% 34.96%
Net Nonoperating Expense Percent (NNEP)
0.53% 2.13% 0.54% 1.84% 1.10% 0.45% 1.17% 0.65% 0.45% 0.68% 1.15%
Return On Investment Capital (ROIC_SIMPLE)
3.77% 5.17% - - - 2.32% - - - 2.46% -
Cost of Revenue to Revenue
23.13% 21.93% 22.52% 21.39% 20.98% 21.38% 21.94% 22.73% 24.32% 25.09% 26.28%
SG&A Expenses to Revenue
9.97% 9.74% 9.00% 9.44% 10.44% 10.00% 9.50% 9.34% 10.69% 10.29% 9.75%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
26.45% 22.95% 21.22% 24.94% 29.87% 47.56% 41.63% 41.71% 42.50% 40.70% 37.75%
Earnings before Interest and Taxes (EBIT)
362 250 394 245 269 238 195 277 257 237 198
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
427 315 458 309 346 409 376 459 439 420 372
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
8.81 8.18 9.72 7.85 8.61 9.91 7.83 9.05 10.23 11.12 11.71
Price to Earnings (P/E)
29.03 29.24 37.74 40.82 41.80 53.55 43.02 48.36 73.53 63.45 73.13
Dividend Yield
1.84% 1.92% 1.57% 1.87% 1.64% 1.37% 1.66% 1.38% 1.17% 1.05% 0.98%
Earnings Yield
3.45% 3.42% 2.65% 2.45% 2.39% 1.87% 2.32% 2.07% 1.36% 1.58% 1.37%
Enterprise Value to Invested Capital (EV/IC)
5.15 4.74 5.44 4.87 5.09 5.57 4.68 5.03 5.41 5.60 6.18
Enterprise Value to Revenue (EV/Rev)
13.22 12.75 14.28 12.35 13.12 14.38 12.36 13.61 14.94 15.95 16.48
Enterprise Value to EBITDA (EV/EBITDA)
23.54 23.58 24.97 22.95 22.24 22.89 19.86 21.86 25.62 25.56 27.66
Enterprise Value to EBIT (EV/EBIT)
28.39 29.50 33.17 34.91 36.11 40.34 34.82 38.13 47.14 45.86 51.09
Enterprise Value to NOPAT (EV/NOPAT)
26.01 24.56 33.43 31.44 36.08 46.54 38.96 42.57 51.07 51.89 51.73
Enterprise Value to Operating Cash Flow (EV/OCF)
26.47 25.59 26.07 22.53 23.13 25.24 24.02 26.04 30.80 32.66 32.33
Enterprise Value to Free Cash Flow (EV/FCFF)
25.11 28.74 28.27 20.49 24.09 29.30 72.95 90.58 138.72 0.00 59.47
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
-2.53 -2.69 -2.40 -2.33 -2.38 -2.40 -2.44 -2.49 -2.45 -2.45 -2.32
Long-Term Debt to Equity
-2.37 -2.45 -2.40 -1.99 -2.03 -2.27 -2.43 -2.49 -2.45 -2.45 -2.20
Financial Leverage
-2.37 -2.39 -2.38 -2.37 -2.38 -2.40 -2.34 -2.36 -2.35 -2.35 -2.31
Leverage Ratio
-2.02 -2.12 -2.00 -1.97 -1.97 -2.00 -1.94 -1.97 -1.95 -1.94 -1.91
Compound Leverage Factor
-1.46 -1.32 -1.51 -1.19 -1.26 -1.17 -0.93 -1.23 -1.09 -1.05 -0.99
Debt to Total Capital
165.28% 159.23% 171.25% 175.33% 172.34% 171.45% 169.50% 167.03% 168.91% 168.79% 175.68%
Short-Term Debt to Total Capital
10.27% 13.92% 0.32% 25.79% 25.18% 8.95% 0.33% 0.32% 0.32% 0.31% 9.43%
Long-Term Debt to Total Capital
155.02% 145.31% 170.93% 149.54% 147.15% 162.50% 169.17% 166.71% 168.60% 168.48% 166.25%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.83% 0.63% 0.68% 0.58% 0.51% 0.49% 0.47% 0.50% 0.50% 0.42% 0.58%
Common Equity to Total Capital
-66.12% -59.86% -71.94% -75.91% -72.85% -71.93% -69.97% -67.53% -69.41% -69.21% -76.27%
Debt to EBITDA
8.24 9.38 8.10 8.53 7.77 7.24 7.39 7.45 8.18 7.83 8.16
Net Debt to EBITDA
7.80 8.42 7.94 8.34 7.61 7.09 7.25 7.30 8.06 7.72 7.98
Long-Term Debt to EBITDA
7.73 8.56 8.08 7.28 6.64 6.86 7.37 7.44 8.16 7.82 7.72
Debt to NOPAT
9.10 9.77 10.84 11.69 12.62 14.71 14.50 14.51 16.30 15.90 15.26
Net Debt to NOPAT
8.62 8.77 10.62 11.42 12.35 14.42 14.23 14.22 16.06 15.67 14.92
Long-Term Debt to NOPAT
8.54 8.92 10.82 9.97 10.77 13.95 14.47 14.48 16.27 15.87 14.44
Altman Z-Score
0.28 0.23 0.36 -0.13 -0.01 0.27 0.12 0.29 0.37 0.42 0.34
Noncontrolling Interest Sharing Ratio
-0.98% -0.88% -0.82% -0.76% -0.72% -0.64% -0.73% -0.75% -0.71% -0.47% -0.55%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
0.69 1.10 0.67 0.19 0.19 0.36 0.69 0.70 0.74 0.69 0.40
Quick Ratio
0.57 0.19 0.45 0.13 0.15 0.29 0.53 0.46 0.53 0.47 0.24
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
330 236 530 946 779 659 -175 -178 -341 -652 131
Operating Cash Flow to CapEx
652.28% 558.37% 470.46% 851.65% 508.81% 689.73% 510.94% 767.45% 633.29% 436.70% 579.45%
Free Cash Flow to Firm to Interest Expense
39.50 47.75 73.67 133.64 92.27 106.02 -22.11 -23.72 -23.92 -56.61 11.34
Operating Cash Flow to Interest Expense
36.08 62.71 42.36 60.11 34.88 69.63 39.72 64.77 21.85 25.04 28.84
Operating Cash Flow Less CapEx to Interest Expense
30.55 51.48 33.36 53.05 28.02 59.53 31.94 56.33 18.40 19.31 23.86
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.26 0.25 0.26 0.26 0.26 0.26 0.27 0.26 0.26 0.26 0.26
Accounts Receivable Turnover
20.95 16.32 19.76 21.50 17.40 14.77 19.78 19.72 17.65 18.40 26.34
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.97 0.97 0.97 0.99 0.99 1.00 1.02 1.01 1.00 1.00 0.97
Accounts Payable Turnover
10.78 11.43 11.36 11.73 11.81 13.09 13.08 15.11 14.45 15.64 14.78
Days Sales Outstanding (DSO)
17.42 22.37 18.47 16.98 20.98 24.71 18.45 18.51 20.68 19.84 13.86
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
33.85 31.92 32.13 31.12 30.91 27.89 27.90 24.16 25.26 23.33 24.69
Cash Conversion Cycle (CCC)
-16.43 -9.55 -13.66 -14.14 -9.94 -3.18 -9.45 -5.65 -4.58 -3.49 -10.84
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
6,893 7,202 6,978 6,783 6,942 6,999 7,186 7,345 7,430 7,492 6,784
Invested Capital Turnover
0.39 0.38 0.38 0.38 0.37 0.37 0.39 0.38 0.37 0.37 0.38
Increase / (Decrease) in Invested Capital
-49 202 -208 -562 -488 -493 402 460 497 839 105
Enterprise Value (EV)
35,506 34,162 37,990 33,039 35,340 38,984 33,640 36,958 40,173 41,992 41,893
Market Capitalization
23,676 21,913 25,869 20,997 23,207 26,871 21,318 24,576 27,503 29,278 29,769
Book Value per Share
($46.19) ($47.52) ($48.15) ($49.48) ($48.31) ($47.93) ($47.67) ($47.00) ($48.77) ($48.87) ($49.74)
Tangible Book Value per Share
($68.52) ($69.74) ($71.34) ($71.02) ($70.55) ($70.69) ($70.95) ($71.26) ($73.71) ($74.59) ($74.79)
Total Capital
7,518 8,536 7,194 7,004 7,170 7,188 7,384 7,541 7,591 7,624 7,035
Total Debt
12,426 13,592 12,319 12,280 12,356 12,324 12,515 12,596 12,822 12,868 12,359
Total Long-Term Debt
11,654 12,404 12,296 10,474 10,551 11,681 12,491 12,572 12,798 12,844 11,696
Net Debt
11,767 12,195 12,072 12,001 12,096 12,078 12,287 12,345 12,632 12,682 12,083
Capital Expenditures (CapEx)
46 56 65 50 58 63 61 63 49 66 57
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-298 -28 -442 -472 -420 -483 -407 -447 -333 -376 -422
Debt-free Net Working Capital (DFNWC)
362 1,369 -195 -193 -160 -236 -179 -196 -143 -190 -145
Net Working Capital (NWC)
-410 181 -218 -2,000 -1,966 -879 -203 -220 -167 -214 -809
Net Nonoperating Expense (NNE)
63 260 66 225 137 56 142 80 56 84 136
Net Nonoperating Obligations (NNO)
11,801 12,257 12,104 12,059 12,128 12,135 12,317 12,400 12,661 12,737 12,108
Total Depreciation and Amortization (D&A)
65 65 64 64 77 171 181 182 182 183 174
Debt-free, Cash-free Net Working Capital to Revenue
-11.08% -1.04% -16.61% -17.65% -15.61% -17.79% -14.95% -16.46% -12.37% -14.27% -16.59%
Debt-free Net Working Capital to Revenue
13.48% 51.08% -7.31% -7.22% -5.95% -8.70% -6.58% -7.21% -5.33% -7.22% -5.72%
Net Working Capital to Revenue
-15.25% 6.75% -8.18% -74.72% -72.97% -32.42% -7.46% -8.09% -6.22% -8.13% -31.80%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$2.05 $1.60 $2.41 $1.52 $1.43 $1.01 $0.81 $1.88 $0.94 $0.95 $0.93
Adjusted Weighted Average Basic Shares Outstanding
107.74M 107.64M 107.49M 107.46M 108.10M 108.20M 108.37M 108.36M 108.13M 107.96M 107.92M
Adjusted Diluted Earnings per Share
$2.04 $1.61 $2.40 $1.51 $1.42 $1.01 $0.80 $1.87 $0.93 $0.95 $0.91
Adjusted Weighted Average Diluted Shares Outstanding
108.14M 108.08M 107.92M 107.68M 108.62M 108.91M 108.89M 108.88M 109.27M 109.39M 109.36M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
107.45M 107.62M 107.52M 107.47M 107.44M 108.11M 107.89M 108.38M 108.34M 108.04M 107.97M
Normalized Net Operating Profit after Tax (NOPAT)
312 282 333 270 331 227 258 192 175 201 244
Normalized NOPAT Margin
46.94% 40.60% 49.91% 40.92% 50.28% 33.61% 37.79% 28.28% 25.89% 29.28% 36.18%
Pre Tax Income Margin
39.13% 22.47% 44.67% 22.27% 26.06% 20.51% 13.66% 25.47% 21.33% 18.78% 15.19%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
43.32 50.62 54.80 34.56 31.86 38.25 24.71 36.83 18.03 20.59 17.20
NOPAT to Interest Expense
33.63 88.67 44.81 54.26 34.52 26.70 28.82 37.50 10.99 16.21 20.49
EBIT Less CapEx to Interest Expense
37.79 39.39 45.79 27.50 25.01 28.15 16.94 28.39 14.58 14.86 12.22
NOPAT Less CapEx to Interest Expense
28.10 77.44 35.81 47.21 27.66 16.61 21.05 29.07 7.54 10.48 15.51
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
53.98% 56.66% 60.43% 78.08% 69.67% 74.38% 72.35% 67.23% 87.04% 66.72% 72.20%
Augmented Payout Ratio
65.54% 83.38% 96.69% 137.04% 107.06% 94.48% 83.29% 67.23% 87.04% 160.60% 251.93%

Frequently Asked Questions About SBA Communications' Financials

When does SBA Communications's financial year end?

According to the most recent income statement we have on file, SBA Communications' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has SBA Communications' net income changed over the last 9 years?

SBA Communications' net income appears to be on an upward trend, with a most recent value of $748.68 million in 2024, falling from -$175.66 million in 2015. The previous period was $497.42 million in 2023. See where experts think SBA Communications is headed by visiting SBA Communications' forecast page.

What is SBA Communications's operating income?
SBA Communications's total operating income in 2024 was $1.44 billion, based on the following breakdown:
  • Total Gross Profit: $2.10 billion
  • Total Operating Expenses: $662.14 million
How has SBA Communications revenue changed over the last 9 years?

Over the last 9 years, SBA Communications' total revenue changed from $1.64 billion in 2015 to $2.68 billion in 2024, a change of 63.5%.

How much debt does SBA Communications have?

SBA Communications' total liabilities were at $16.47 billion at the end of 2024, a 7.6% increase from 2023, and a 82.6% increase since 2015.

How much cash does SBA Communications have?

In the past 9 years, SBA Communications' cash and equivalents has ranged from $68.78 million in 2017 to $367.28 million in 2021, and is currently $189.84 million as of their latest financial filing in 2024.

How has SBA Communications' book value per share changed over the last 9 years?

Over the last 9 years, SBA Communications' book value per share changed from -13.52 in 2015 to -47.52 in 2024, a change of 251.4%.



This page (NASDAQ:SBAC) was last updated on 5/29/2025 by MarketBeat.com Staff
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