SBAC Q4 2025 Earnings — SBA Communications Corporation Revenue & Financial Results | Market Cap Arena

SBACSBA Communications Corporation

$21B

Q4 2025 Earnings

Real Estate REIT - Specialty

Income Statement

Revenue

$720M+3.7% YoY

Gross Profit

$220M30.6% margin

Operating Income

$308M42.8% margin

Net Income

$370M51.5% margin

EPS (Diluted)

$3.47

QoQ Revenue Growth

-1.7%

Cash Flow

Operating Cash Flow

$304M

Free Cash Flow

$241M

Stock-Based Comp.

$19M

Balance Sheet

Total Assets

$11.6B

Total Liabilities

$16.4B

Stockholders' Equity

-$4.9B

Cash & Equivalents

$265M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$720M	$694M	+3.7%
Gross Profit	$220M	$535M	-58.8%
Operating Income	$308M	$382M	-19.5%
Net Income	$370M	$174M	+113.3%

Revenue Segments

Domestic Site Leasing Revenue

$465M65%

International Site Leasing Revenue

$202M28%

Site Development Construction

$53M7%

Geographic Segments

Domestic Site Leasing Revenue

$926M72%

International Site Leasing Revenue

$357M28%