Zacks Investment Research·Jun 24, 2026
SBAC Stock Rises 14.8% in Three Months: Will the Trend Last?SBA Communications climbs 14.8% in three months as tower leasing, colocation demand, expansion and dividend growth support its long-term outlook.
SBA Communications Corporation(SBAC)Earnings, Financials & Key Ratios
SBAC•NASDAQ•REIT / Real Estate
$183.23
18.7× P/E·Price updated Jul 7, 2026
AboutSBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts. For more information please visit: www.sbasite.com.Show more
- Revenue$2.82B+5.1%
- FFO$1.53B+50.1%
- FFO/Share14.23+50.9%
- FFO Payout31.31%-24.8%
- FFO per Share14.23+50.9%
- NOI Margin41.61%-46.2%
- FFO Margin54.35%+42.9%
- ROA9.17%+32.0%
SBAC Price & Volume
SBA Communications Corporation (SBAC) stock price & volume — 10-year historical chart
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Volatile FFO Growth Masks Persistent Equity Deficit
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial:Vulnerable
Cash Flow:Mixed
Primary Risk:Elevated carrier churn headwinds
Key Thesis Takeaways
- SBA Communications faces a complex outlook characterized by inconsistent organic growth and significant balance sheet strain, as evidenced by a persistent negative equity position of $4.8B as of 2026Q1.
- While the company benefits from 5G infrastructure demand, the volatility in FFO per share—dropping from 4.99 in 2025Q4 to 2.51 in 2026Q1—complicates long-term dividend sustainability.
- Investors should monitor the narrowing margin of safety in AFFO coverage and the impact of elevated debt levels on future capital allocation flexibility.
Verdict Logic
while the company maintains a 2.4% dividend yield, the combination of a $15.4B debt load and significant FFO per share volatility to 2.51 in 2026Q1 suggests elevated risk for long-term capital appreciation.
SBAC Growth Metrics
SBA Communications Corporation (SBAC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years5.56%
5 Years6.21%
3 Years2.25%
TTM6.27%
Profit CAGR
10 Years-
5 Years112.87%
3 Years31.68%
TTM24.76%
EPS CAGR
10 Years-
5 Years115.68%
3 Years32.43%
TTM25.79%
Return on Capital
10 Years9.45%
5 Years11.69%
3 Years13.3%
Last Year14.45%
SBAC Recent Earnings
SBA Communications Corporation (SBAC) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 4/12 qtrs (33%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
Apr 29, 2026Metric
Actual
Est
EPS
$1.74-2.2%
$1.78
Rev
$703M+1.0%
$696M
Q1 2026
Feb 26, 2026Metric
Actual
Est
EPS
$3.47-10.8%
$3.89
Rev
$720M-0.9%
$726M
Q4 2025
Nov 3, 2025Metric
Actual
Est
EPS
$3.32+9.2%
$3.04
Rev
$732M+0.9%
$726M
Q3 2025
Aug 4, 2025Metric
Actual
Est
EPS
$2.09-33.0%
$3.12
Rev
$699M-0.3%
$701M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 29, 2026 | $1.74vs $1.78-2.2% | $703Mvs $696M+1.0% |
| Q1 2026 | Feb 26, 2026 | $3.47vs $3.89-10.8% | $720Mvs $726M-0.9% |
| Q4 2025 | Nov 3, 2025 | $3.32vs $3.04+9.2% | $732Mvs $726M+0.9% |
| Q3 2025 | Aug 4, 2025 | $2.09vs $3.12-33.0% | $699Mvs $701M-0.3% |
Based on last 12 quarters of dataView full earnings history →
Latest SBAC News
Recent stock market news and headlines for SBA Communications Corporation (SBAC)
Seeking Alpha·Jun 18, 2026
SBA Communications: Churn And Refinancing Pressures Are Already Priced InSBA Communications remains a buy, with the current valuation reflecting industry headwinds and offering upside on potential recovery. Q1 results beat expectations, guidance was raised, and AFFO per share is projected at $11.93–$12.38 for 2026, despite ongoing churn and refinancing pressures. Leverage remains elevated at 6.6x net debt/adj. EBITDA, but management targets investment-grade bond issuance in 2026 and maintains a sustainable dividend payout.
Peers Comparison
Key metrics vs top competitors for SBA Communications Corporation (SBAC)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $183.23 | $19.43B | 18.70 | 5.06% | 37.43% | — | 2.43% | |
| $165.25 | $76.99B | 30.66 | 5.11% | 26.6% | 27.44% | — | |
| $77.22 | $33.7B | 75.71 | -35.06% | 25.13% | — | — | |
| $10.77 | $2.62B | 2.21 | 91.49% | 40.53% | — | — | |
| $6.44 | $6.63B | -3.68 | -5.39% | -14.34% | -79.42% | — | |
| $11.66 | $583.66M | -3.07 | -5.82% | -17.88% | — | — |
Compare SBAC vs Peers
SBA Communications Corporation (SBAC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
SBAC SEC Filings & Documents
SBA Communications Corporation (SBAC) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
Apr 29, 2026·SEC
Material company update
Mar 27, 2026·SEC
Material company update
Feb 26, 2026·SEC
10-K Annual Reports
310-Q Quarterly Reports
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SBAC Frequently Asked Questions
SBA Communications Corporation (SBAC) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is SBA Communications Corporation's revenue?
SBA Communications Corporation (SBAC) reported $2.85B in revenue for fiscal year 2025. This represents a 4730% increase from $59.1M in 1998.
How fast is SBA Communications Corporation growing?
SBA Communications Corporation (SBAC) grew revenue by 5.1% over the past year. This is steady growth.
Is SBAC profitable?
Yes, SBA Communications Corporation (SBAC) is profitable, generating $1.02B in net income for fiscal year 2025 (37.4% net margin).
Dividend & Returns
Does SBAC pay dividends?
Yes, SBA Communications Corporation (SBAC) pays a dividend with a yield of 2.43%. This makes it attractive for income-focused investors.
Industry Metrics
What is SBA Communications Corporation's FFO?
SBA Communications Corporation (SBAC) generated Funds From Operations (FFO) of $1.41B in the trailing twelve months. FFO is the primary profitability metric for REITs.