SBAC Q3 2025 Earnings — SBA Communications Corporation Revenue & Financial Results | Market Cap Arena

SBACSBA Communications Corporation

$21B

Q3 2025 Earnings

Real Estate REIT - Specialty

Income Statement

Revenue

$732M+9.7% YoY

Gross Profit

$543M74.1% margin

Operating Income

$374M51.1% margin

Net Income

$237M32.3% margin

EPS (Diluted)

$2.21

QoQ Revenue Growth

+4.8%

Cash Flow

Operating Cash Flow

$318M

Free Cash Flow

$258M

Stock-Based Comp.

$19M

Balance Sheet

Total Assets

$11.3B

Total Liabilities

$16.1B

Stockholders' Equity

-$4.9B

Cash & Equivalents

$430M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$732M	$668M	+9.7%
Gross Profit	$543M	$512M	+6.0%
Operating Income	$374M	$376M	-0.4%
Net Income	$237M	$259M	-8.4%

Revenue Segments

Domestic Site Leasing Revenue

$470M64%

International Site Leasing Revenue

$186M25%

Site Development Construction

$76M10%

Geographic Segments

Domestic Site Leasing Revenue

$470M72%

International Site Leasing Revenue

$186M28%