SBA Communications

Real Estate Telecom Tower REITs Boca Raton, Florida Last filing Feb 27, 2026 · FY2025

                    Revenue
                    FY2025
                
$2.8B
                    3y CAGR +2.2%
                    
                    P10
                    
                    n/a
                    
                    Net income
                    FY2025
                
$1.1B
                    Net margin +37.4%
                    
                    P86
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$11.6B
                    ROA +9.1%
                    
                    P97
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$1.3B
                    FCF margin +0.3%
                    
                    P52
                    
                    n/a

18 yrs · FY2008–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

17 accounts · 1 year

Total assets $11.6B

Total liabilities ~$16.4B

Shareholders equity $-4.9B

Account	2025	Trend
Assets
Cash and Cash Equivalents	—
Other Current Assets	—
Total Current Assets	—
Other Noncurrent Assets	—
Total Assets	—
Liabilities
Current Portion of Long Term Debt	—
Other Current Liabilities	—
Total Current Liabilities	—
Long Term Debt	—
Other Noncurrent Liabilities	—
Equity
Total Stockholders Equity	—
Common Stock	—
Additional Paid In Capital	—
Retained Earnings	—
Accumulated Other Comprehensive Income	—
Temporary Equity and Other	—
Total Liabilitiesand Equity	—

Income Statement

Revenue, expense, and profitability

14 accounts · 1 year

Revenue $2.8B

Operating income $1.3B

Net income $1.1B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	—
Expenses Depreciation and Amortization	—
Expenses Selling,General and Administrative	—
Expenses Other Operating Expenses	—
Other Income Expense Operating Income	—
Other Income Expense Interest Expense	—
Other Income Expense Other Income/expense	—
Other Income Expense Income Before Tax	—
Income Tax Income Tax Expense	—
net Income Other Items Below Tax	—
net Income net Income	—
Earnings Per Share Basic Eps	—
Earnings Per Share Diluted Eps	—
Earnings Per Share Weighted Average Shares Diluted	—

Cash Flow Statement

Operating, investing, and financing flows

16 accounts · 1 year

Operating cash flow $1.3B

Investing cash flow $-601.8M

Financing cash flow $-1.7B

Account	2025	Trend
CashFlow
Operating Activities net Cash From Operating Activities	—
Operating Activities net Income	—
Operating Activities Depreciation and Amortization	—
Operating Activities Stock Based Compensation	—
Operating Activities Other Non Cash Items	—
Investing Activities Capital Expenditures	—
Investing Activities Other Investing Activities	—
Investing Activities net Cash From Investing Activities	—
Financing Activities Proceeds From Debt	—
Financing Activities Repayment of Debt	—
Financing Activities Dividends Paid	—
Financing Activities Repurchase of Common Stock	—
Financing Activities Other Financing Activities	—
Financing Activities net Cash From Financing Activities	—
Cash Reconciliation Effect of Exchange Rate On Cash	—
Cash Reconciliation net Change In Cash	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	—
Operating margin	+47.7%
Net margin	+37.4%
FCF margin	+0.3%
Growth
Revenue CAGR (3y)	+2.2%
Returns
ROE	-21.7%
ROA	+9.1%
ROIC	+15.0%
Liquidity
Current ratio	0.29x
Quick ratio	—
Leverage
D/E	-3.38x
Interest coverage	43.71x
Efficiency
Asset turnover	0.24x
Cash conversion cycle	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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SBA Communications

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

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Assets, liabilities, and equity

Revenue, expense, and profitability

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