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SBAC (SBA Communications Corporation) Stock Financials & Earnings | Market Cap Arena
SBAC
SBA Communications Corporation
Mkt Cap
$21B
Real Estate
·
REIT - Specialty
·
🇺🇸 United States
·
NASDAQ
Revenue (TTM)
$2.8B
Net Income (TTM)
$1.1B
EPS (TTM)
$9.81
Free Cash Flow (TTM)
$1.1B
Gross Margin
63.5%
Op. Margin
48.0%
Net Margin
37.4%
FCF Margin
37.9%
P/S Ratio (TTM)
7.3x
P/E Ratio (TTM)
19.6x
YoY Rev Growth
+5.1%
Employees
—
Earnings Reports
▶
Q4 2025
NEW
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$676M
$505M
$224M
Q2 23
$679M
$519M
$241M
Q3 23
$683M
$527M
$249M
Q4 23
$675M
$526M
$210M
Q1 24
$658M
$512M
$323M
Q2 24
$660M
$513M
$354M
Q3 24
$668M
$512M
$376M
Q4 24
$694M
$535M
$382M
Q1 25
$664M
$503M
$335M
Q2 25
$699M
$521M
$335M
Q3 25
$732M
$543M
$374M
Q4 25
$720M
$220M
$308M
marketcaparena.com
Revenue Breakdown
SBAC
SBA Communications Corporation
Revenue Breakdown
Q4 2025
marketcaparena.com
Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
7.7x
55.2x
Q2 23
7.6x
40.6x
Q3 23
7.6x
41.7x
Q4 23
7.6x
41.2x
Q1 24
7.7x
37.2x
Q2 24
7.7x
40.2x
Q3 24
7.8x
30.1x
Q4 24
7.7x
27.6x
Q1 25
7.7x
25.3x
Q2 25
7.6x
23.5x
Q3 25
7.4x
24.1x
Q4 25
7.3x
19.6x
marketcaparena.com
Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
$311M
$262M
Q2 23
$487M
$423M
Q3 23
$314M
$252M
Q4 23
$433M
$333M
Q1 24
$294M
$237M
Q2 24
$426M
$376M
Q3 24
$305M
$240M
Q4 24
$310M
$255M
Q1 25
$301M
$255M
Q2 25
$368M
$312M
Q3 25
$318M
$258M
Q4 25
$304M
$241M
marketcaparena.com
Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$49M
Q2 23
$63M
Q3 23
$61M
Q4 23
$100M
Q1 24
$58M
Q2 24
$50M
Q3 24
$65M
Q4 24
$56M
Q1 25
$46M
Q2 25
$56M
Q3 25
$60M
Q4 25
$63M
marketcaparena.com
OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
+9.0%
+12.0%
Q2 23
+4.1%
+3.9%
Q3 23
+1.0%
+0.3%
Q4 23
-1.6%
+3.1%
Q1 24
-2.6%
-25.9%
Q2 24
-2.7%
-30.0%
Q3 24
-2.2%
-32.7%
Q4 24
+2.8%
-33.1%
Q1 25
+1.0%
-1.5%
Q2 25
+5.8%
+19.0%
Q3 25
+9.7%
+22.7%
Q4 25
+3.7%
+32.2%
marketcaparena.com
Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$26M
3.9%
Q2 23
$18M
2.7%
Q3 23
$21M
3.1%
Q4 23
$22M
3.3%
Q1 24
$21M
3.3%
Q2 24
$19M
2.8%
Q3 24
$16M
2.5%
Q4 24
$18M
2.6%
Q1 25
$16M
2.4%
Q2 25
$22M
3.1%
Q3 25
$19M
2.6%
Q4 25
$19M
2.7%
marketcaparena.com
OpEx Breakdown
SG&A
Quarter
SG&A
Q1 23
$72M
Q2 23
$63M
Q3 23
$65M
Q4 23
$68M
Q1 24
$68M
Q2 24
$62M
Q3 24
$59M
Q4 24
$69M
Q1 25
$66M
Q2 25
$71M
Q3 25
$66M
Q4 25
$74M
marketcaparena.com
Revenue Segments
Domestic Site Leasing Revenue
International Site Leasing Revenue
Site Development Construction
Quarter
Domestic Site Leasing Revenue
International Site Leasing Revenue
Site Development Construction
Q1 23
$455M
$162M
$58M
Q2 23
$457M
$169M
$52M
Q3 23
$468M
$169M
$45M
Q4 23
$467M
$169M
$39M
Q1 24
$461M
$167M
$30M
Q2 24
$463M
$163M
$34M
Q3 24
$465M
$161M
$42M
Q4 24
$472M
$174M
$47M
Q1 25
$461M
$155M
$48M
Q2 25
$470M
$162M
$67M
Q3 25
$470M
$186M
$76M
Q4 25
$465M
$202M
$53M
marketcaparena.com
War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$153M
$2M
$155M
Q2 23
$179M
$22M
$202M
Q3 23
$191M
$1M
$192M
Q4 23
$209M
$1M
$210M
Q1 24
$240M
$0
$240M
Q2 24
$221M
$30M
$251M
Q3 24
$186M
$16M
$203M
Q4 24
$190M
$255M
$444M
Q1 25
$636M
$66M
$702M
Q2 25
$275M
$2M
$277M
Q3 25
$430M
$761K
$431M
Q4 25
$265M
$7M
$271M
marketcaparena.com
Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
109M
-0.0%
Q2 23
109M
-0.4%
Q3 23
109M
+0.0%
Q4 23
109M
-0.3%
Q1 24
109M
+0.0%
Q2 24
108M
-0.9%
Q3 24
108M
+0.2%
Q4 24
108M
+0.2%
Q1 25
108M
+0.0%
Q2 25
108M
-0.3%
Q3 25
108M
+0.0%
Q4 25
107M
-1.1%
marketcaparena.com
Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 14
$1M
1K
FY 15
$1M
1K
FY 16
$1M
1K
FY 17
$1M
1K
FY 18
$1M
1K
FY 19
$1M
1K
FY 20
$1M
1K
FY 21
$1M
2K
FY 22
$1M
2K
FY 23
$2M
2K
FY 24
$2M
2K
FY 25
$2M
2K
marketcaparena.com