SBAC
SBA Communications
$184.94
▲ 1.3%Updated Today 11:30 AM ET
SBAC at a glance — five pillars scored 0–100 from real filed financials.
Overall: Neutral · 57/100. A wider, greener shape means more pillars look healthy. Dividends scores 0 when a company pays none — that is a choice, not a flaw.
▼ Down 18.2% over the last 12 months
Market Cap
$19.57B
P/E
19.27x
Forward P/E (est.)
15.31x
ROE
-1.7%
Revenue Growth
6.3%
EPS Growth
25.9%
Profit Margin
35.7%
FCF Yield
5.1%
Debt / Equity
16.46x
ROIC
13.0%
Interest Coverage
6.84x
Current Ratio
0.23x
Dividend Yield
2.6%
Implied Growth (rev. DCF)
3.4%
Rating Score
57/100
SBA Communications (SBAC) is a large-cap company in the Telecom Tower REITs industry, part of the Real Estate sector of the S&P 500, with a market value around $19.57B.
In its latest reported year it generated about $2.82B in revenue and $1.05B in net profit.
Our model rates SBAC Neutral (57/100) on growth, profitability, financial health, and valuation. The summary below is built from its filed financials and current ratios and refreshes automatically.
Evidence of durable competitive advantage in the filed financials (10 years of history).
The filed history looks like a business competitors struggle to attack: high and steady margins, revenue that grows through cycles, and strong returns on capital.
77.1% average over the last 3 years
±1.4 pts around 75.8% across 10 years
grew in 8 of the last 9 year-over-year periods
positive in 10 of 10 years
13.0% latest fiscal year
A moat can't be proven by numbers alone — this scores the evidence a durable advantage leaves behind (pricing power, consistency, returns on capital), computed the same way for every stock. Pair it with the business overview before concluding anything.
Technical analysis reads price and volume to judge momentum and timing. It complements the fundamentals above — it does not replace them. Here is what SBAC's chart says today, with each tool explained.
Trend — moving averages. A moving average is the average closing price over a window, which smooths out daily noise. SBAC trades near $184.94, below its 50-day average ($203.26) and 200-day average ($195.56). Price below both averages is a downtrend — momentum is against buyers for now.
Momentum — RSI. The Relative Strength Index runs 0–100 and measures how strong recent gains are versus losses. Above 70 is "overbought", below 30 "oversold". At 30 it is in neutral territory — neither stretched nor washed out.
MACD. MACD compares two moving averages to flag shifts in momentum. Its histogram is currently negative — short-term momentum is fading.
Volatility — ATR. Average True Range is the typical daily move. SBAC's is $6.10 (~3.3% of price), so swings of about that size each day are normal — handy for setting a stop that isn't too tight.
Support & resistance. Over the last month SBAC found buyers near $174.16 (support) and sellers near $210.88 (resistance); its 52-week range is $162.41–$243.16. A decisive break beyond either edge often marks the next move.
Volume. The latest session traded 1.4× the 20-day average — heavier than usual, which adds conviction to the move. Rising volume on up-days suggests real buying; on down-days, real selling.
Educational information to help you read a chart — not a recommendation or a forecast. It updates daily as the price and indicators change.
4Y CAGR
5.1%
Revenue moved from $1.63B in 2016 to $2.82B in 2025, a 6.2% compound annual growth rate. The most recent year grew a steady 6.3% year over year. Slower, mature growth is common for established businesses.
Gross Margin
75.5%
Operating Margin
47.7%
Net Margin
37.4%
ROE
-1.7%
SBA Communications keeps about 35.7% of each sales dollar as net profit, with a 75.5% gross margin and 47.7% operating margin. Return on equity is -1.7% and return on invested capital about 13.0%. Margins this wide usually signal pricing power or a cost advantage.
Total Debt
$12.96B
Net Debt
$12.69B
Net Debt / EBITDA
9.45x
Debt / Equity
16.46x
Leverage: debt-to-equity is 16.5x, and operating profit covers interest about 6.8x, with a current ratio of 0.2x. That is elevated leverage, which raises risk if earnings or rates move against it. It carries roughly $12.96B of total debt against $269.06M of cash.
Operating CF
$1.29B
Free Cash Flow
$1.07B
FCF Margin
37.9%
In the latest year SBA Communications produced about $1.29B of operating cash flow and $1.07B of free cash flow after capital spending. That is a free-cash-flow yield of about 5.1% on today's price. Strong cash generation funds dividends, buybacks, and reinvestment.
Can the payout survive a bad year? Scored from filed cash flow, earnings coverage, and the raise/cut record.
The payout is comfortably covered by cash the business actually generates, with a raise habit behind it.
Dividend yield
2.6%
Total paid (latest FY)
$479.01M
History on record
7 years
dividend uses 45% of free cash flow
45% of net income paid out
total dividends increased 6 years in a row
no cuts in the last 7 years on record
Coverage uses the latest fiscal year as filed with the SEC; the streak counts total dollars paid (per-share figures can carry split artifacts). Educational information, not income advice.
P/E
19.27x
P/S
7.37x
P/B
30.53x
EV / EBITDA
—
SBAC trades at 19.3x trailing earnings (about 15.3x on estimated forward earnings), 7.4x sales, and 30.5x book value. Reverse-engineering today's price implies the market expects roughly 3.4% long-term free-cash-flow growth. That is a fairly typical valuation for a profitable company.
A two-stage discounted cash flow on real SEC-filed free cash flow — the intrinsic-value anchor professional analysts triangulate from.
DCF fair value / share
$196.22
Current price
$184.94
Starting FCF (latest 10-K)
$1.07B
Growth, years 1–5
6.3%
Fade to terminal, years 6–10
2.5%
Discount rate
9.0%
Cash flows grow at the stage-1 rate (trailing revenue growth, capped at 20%) for five years, fade to 2.5% by year 10, and continue at that rate forever (Gordon terminal value), all discounted at 9.0%. Small changes in assumptions move the result a lot — treat this as one reference point, not a target price. Educational only, not investment advice.
Where SBAC sits versus its Real Estate sector peers in the S&P 500.
Bands show the middle half (25th–75th percentile) of the 33 Real Estate companies in the S&P 500 — the peer-relative anchor professional comps analysis uses. Context only — not investment advice.
How SBAC stacks up against its Real Estate peers — valuation, profitability, and growth versus the sector median.
In the Real Estate sector (41 S&P 500 companies), SBAC ranks #12 of 41 by our overall rating. It trades at a discount versus the sector on earnings (19.3x P/E vs. 32.4x median) with a lower return on equity (-1.7% vs. 8.0%) and faster revenue growth (6.3% vs. 5.3%).
P/E vs sector
19.3x
median 32.4x
ROE vs sector
-1.7%
median 8.0%
Growth vs sector
6.3%
median 5.3%
Sector rank
#12
of 41 by rating
Valuation vs. quality map
The sweet spot is upper-left: more profitable (higher ROE) for a lower P/E. Dashed lines mark the sector median.
Peers are the closest Real Estate companies by sub-industry and size. Sector median is across all 41 S&P 500 names in the sector. Educational, not a recommendation.
Project revenue → earnings → price. Edit the assumptions to build your own case.
2030 price target (Base Case)
$0.00 – $0.00
vs. $184.94 today · expected CAGR -5% – 6%
| Metric | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|
| Revenue | $2.98B | $3.16B | $3.35B | $3.55B | $3.77B |
| Net income | $1.10B | $1.17B | $1.24B | $1.31B | $1.39B |
| EPS | $10.43 | $11.06 | $11.72 | $12.42 | $13.17 |
| Share price (low) | $114.74 | $121.63 | $128.93 | $136.66 | $144.86 |
| Share price (high) | $198.19 | $210.09 | $222.69 | $236.05 | $250.22 |
| CAGR (low–high) | -38% / 7% | -19% / 7% | -11% / 6% | -7% / 6% | -5% / 6% |
Educational model on sample fundamentals — not a forecast or investment advice. Outputs are only as good as your assumptions.
The case for SBAC:
- High net margins (35.7%) point to pricing power or efficiency.
- Healthy free-cash-flow yield (~5.1%) funds buybacks and dividends.
- Pays a 2.6% dividend on top of any price gains.
The case against SBAC:
- Elevated leverage (debt/equity 16.5x) adds financial risk.
- Like any single stock, it is exposed to competition, the economic cycle, and shifts in its end markets.
Balance-sheet risk — debt/equity of 16.5x magnifies the impact of higher rates or weaker earnings.
Market risk — sector rotation, the economic cycle, and broad sentiment move the stock regardless of fundamentals.
On balance, the picture is mixed: SBA Communications is a large-cap real estate business growing at a mature pace, with solid profitability, and a heavier debt load to watch. It trades at 19.3x earnings, which our model scores Neutral (57/100). Weigh this against your own goals and time horizon — this is educational information, not a recommendation.
Analyst Ratings
What 27 Wall Street analysts covering SBAC recommend (August 2026). Consensus is a useful sanity check — not a substitute for your own homework.
Analysts have turned more positive over the last three months (+4 pts of buy ratings).
Latest SEC Filings
SBAC's most recent filings, straight from SEC EDGAR. Annual and quarterly reports are the deep dives; 8-Ks flag material events the moment they happen.
In the Idea Lab
SBAC — frequently asked questions
Is SBAC a good stock to buy?
We don't give buy or sell advice. Our model rates SBA Communications Neutral (57/100) based on its growth, profitability, financial health, and valuation — use that as a research starting point and make your own decision.
What is SBAC's rating on The Stocks School?
SBA Communications currently scores 57/100 (Neutral) on our transparent model, which weighs real fundamentals: growth, margins, returns on capital, balance-sheet strength, and valuation.
How our ratings work →Where does SBAC's data come from?
Live price data plus real fundamentals and 5-year financials pulled directly from SBA Communications's SEC filings — refreshed automatically, not hand-entered.
How is the 5-year projection for SBAC calculated?
It's a scenario model: it grows revenue at an assumed rate, applies a profit margin and a valuation multiple, and shows the resulting share-price range. The assumptions are yours to change — it's a tool for thinking, not a prediction.
Is this SBAC analysis financial advice?
No. Everything on this page is educational research, not financial advice or a recommendation to buy or sell SBAC. Always do your own research and consider a licensed professional.
Data notice. Fundamentals and financial statements are sourced from company filings (SEC EDGAR) and market-data providers; prices and market caps refresh on trading days and may be delayed. Ratings, projections, technical signals, and written summaries are model- or rule-generated for education and may simplify or lag the latest filings.
Not advice. Nothing on this page is investment advice or a recommendation to buy, hold, or sell any security. Do your own research and consult a licensed financial professional before investing.