SBA Communications (SBAC) Financials

$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

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

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

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

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

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

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

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%

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%.

Related Companies

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

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

SBA Communications (SBAC) Financials

Frequently Asked Questions About SBA Communications' Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

SBA Communications (SBAC) Financials

Annual Income Statements for SBA Communications

Quarterly Income Statements for SBA Communications

Annual Cash Flow Statements for SBA Communications

Quarterly Cash Flow Statements for SBA Communications

Annual Balance Sheets for SBA Communications

Quarterly Balance Sheets for SBA Communications

Annual Metrics And Ratios for SBA Communications

Quarterly Metrics And Ratios for SBA Communications

Frequently Asked Questions About SBA Communications' Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools