SBAC Stock Analysis: SBA Communications | NASDAQ
REIT - Specialty | NASDAQ, USA | Market Cap: 19.360m USD | 12M Return: -3.1% | US78410G1040 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 170M
EPS Trend: 94.1%
Qual. Beats: 1
Rev. Trend: 78.0%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
SBA Communications Corporation is an independent owner and operator of wireless communications infrastructure, including towers, rooftops, and other structures that host antennas for wireless service providers. Its core business is site leasing, in which it rents space on its owned or operated assets to wireless carriers and other customers, and it also manages rooftop and tower sites for third-party property owners under contractual arrangements. As of December 31, 2025, the company owned 46,328 towers, with an average of 1.8 tenants per tower. The company was established in 1989 and is incorporated in Florida.
SBAC operates as a Real Estate Investment Trust (REIT) within the telecom infrastructure sub-industry, a business model that typically involves owning long-lived physical assets and generating recurring lease revenue from a small number of large, investment-grade wireless carrier customers. The tower business is characterized by high upfront capital expenditure and significant barriers to entry due to zoning, permitting, and the cost of building new structures, which makes existing portfolios with established tenancy difficult to replicate. SBACs main publicly traded peers in the U.S. tower space are American Tower (AMT) and Crown Castle (CCI).
- 5G deployment by carriers boosts tower tenant additions
- Interest rate hikes pressure REIT cost of capital and AFFO
- Site leasing revenue grows as tenant ratios increase
| Net Income: 990.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA -0.91 > 1.0 |
| NWC/Revenue: -125.1% < 20% (prev -33.25%; Δ -91.88% < -1%) |
| CFO/TA 0.11 > 3% & CFO 1.28b > Net Income 990.7m |
| Net Debt (17.4b) to EBITDA (2.02b): 8.61 < 3 |
| Current Ratio: 0.17 > 1.5 & < 3 |
| Outstanding Shares: last quarter (106.2m) vs 12m ago -1.49% < -2% |
| Gross Margin: 63.89% > 18% (prev 76.02%; Δ -12.12% > 0.5%) |
| Asset Turnover: 25.51% > 50% (prev 25.31%; Δ 0.20% > 0%) |
| Interest Coverage Ratio: 3.35 > 6 (EBIT TTM 1.70b / Interest Expense TTM 506.4m) |
| A: -0.31 (Total Current Assets 744.8m - Total Current Liabilities 4.34b) / Total Assets 11.7b |
| B: -0.61 (Retained Earnings -7.14b / Total Assets 11.7b) |
| C: 0.15 (EBIT TTM 1.70b / Avg Total Assets 11.3b) |
| D: -0.28 (Book Value of Equity -4.63b / Total Liabilities 16.4b) |
| Altman-Z'' = -3.27 = D |
| DSRI: 0.88 (Receivables 176.0m/189.6m, Revenue 2.87b/2.72b) |
| GMI: 1.19 (GM 76.02% / 63.89%) |
| AQI: 1.00 (AQ_t 0.30 / AQ_t-1 0.30) |
| SGI: 1.05 (Revenue 2.87b / 2.72b) |
| TATA: -0.03 (NI 990.7m - CFO 1.28b) / TA 11.7b) |
| Beneish M = -2.92 (Cap -4..+1) = A |
As of October 16, 2026, the stock is trading at USD 183.72 with a total of 791,493 shares traded. Over the past week, the price has changed by +8.06%, over one month by +0.32%, over three months by -1.12% and over the past year by -3.11%.
Current recommended Stop Loss: 172.50 (which is 6.1% or 2 ATR below the current price).
SBA Communications has received a consensus analysts rating of 3.90. Therefore, it is recommended to buy SBAC.
- StrongBuy: 8
- Buy: 3
- Hold: 10
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 226.2 | 23.1% |
P/E Trailing = 19.6861
P/E Forward = 19.3798
P/S = 6.7442
P/B = 91.0391
P/EG = 10.7669
Revenue TTM = 2.87b USD
EBIT TTM = 1.70b USD
EBITDA TTM = 2.02b USD
Long Term Debt = 9.15b USD (from longTermDebt, last quarter)
Short Term Debt = 3.89b USD (from shortTermDebt, last quarter)
Debt = 17.7b USD (from shortLongTermDebtTotal, last quarter) + Leases 2.48b
Net Debt = 17.4b USD (calculated: Debt 17.7b - CCE 327.1m)
Enterprise Value = 36.7b USD (19.4b + Debt 17.7b - CCE 327.1m)
Interest Coverage Ratio = 3.35 (Ebit TTM 1.70b / Interest Expense TTM 506.4m)
EV/FCF = 34.95x (Enterprise Value 36.7b / FCF TTM 1.05b)
FCF Yield = 2.86% (FCF TTM 1.05b / Enterprise Value 36.7b)
FCF Margin = 36.60% (FCF TTM 1.05b / Revenue TTM 2.87b)
Net Margin = 34.51% (Net Income TTM 990.7m / Revenue TTM 2.87b)
Gross Margin = 63.89% ((Revenue TTM 2.87b - Cost of Revenue TTM 1.04b) / Revenue TTM)
Gross Margin QoQ = 75.39% (prev 75.64%)
Tobins Q-Ratio = 3.13 (Enterprise Value 36.7b / Total Assets 11.7b)
Interest Expense / Debt = 2.86% (Interest Expense 506.4m / Debt 17.7b)
Taxrate = 10.56% (125.6m / 1.19b)
NOPAT = 1.52b (EBIT 1.70b * (1 - 10.56%))
Current Ratio = 0.17 (Total Current Assets 744.8m / Total Current Liabilities 4.34b)
Debt / Equity = -3.82 (negative equity) (Debt 17.7b / totalStockholderEquity, last quarter -4.63b)
Debt / EBITDA = 8.61 (Net Debt 17.4b / EBITDA 2.02b)
Debt / FCF = 16.52 (Net Debt 17.4b / FCF TTM 1.05b)
Total Stockholder Equity = -4.79b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.80% (Net Income 990.7m / Total Assets 11.7b)
RoE = -20.67% (negative equity) (Net Income TTM 990.7m / Total Stockholder Equity -4.79b)
RoCE = 38.92% (EBIT 1.70b / Capital Employed (Equity -4.79b + L.T.Debt 9.15b))
RoIC = 13.61% (NOPAT 1.52b / Invested Capital 11.1b)
WACC = 4.24% (E(19.4b)/V(37.0b) * Re(5.77%) + D(17.7b)/V(37.0b) * Rd(2.86%) * (1-Tc(0.11)))
Discount Rate = 5.77% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -85.17 | Cagr: -1.00%
[DCF] Terminal Value 75.30% ; FCFF base≈1.06b ; Y1≈1.05b ; Y5≈1.09b
[DCF] Fair Price = N/A (negative equity: EV 17.0b - Net Debt 17.4b = -324.0m; debt exceeds intrinsic value)
EPS Correlation: 94.07 | EPS CAGR: 36.16% | SUE: 1.28 | # QB: 1
Revenue Correlation: 77.96 | Revenue CAGR: 2.31% | SUE: 0.89 | # QB: 1
EPS current Quarter (2026-09-30): EPS=2.09 | Chg30d=+0.00% | Revisions=-25% | Analysts=9
EPS current Year (2026-12-31): EPS=7.71 | Chg30d=-0.01% | Revisions=-25% | GrowthEPS=-21.3% | GrowthRev=+1.8%
EPS next Year (2027-12-31): EPS=8.18 | Chg30d=-0.05% | Revisions=-25% | GrowthEPS=+6.1% | GrowthRev=+2.5%
[Analyst] Revisions Ratio: -50% (up=0, down=3)