Is SBA Communications (SBAC) overvalued or fairly valued?

MarketChacha shows SBA Communications's valuation in context — a trailing P/E of about 19.7, a forward P/E of about 22.6 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does SBA Communications's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.81×) from reported figures — education, not a rating.

What is SBA Communications's revenue?

SBA Communications reported revenue of $244.5M for FY2025, with net profit of $1.1B, per official filings.

What is the share price of SBA Communications (SBAC)?

SBA Communications last traded at $182.55 (-0.3% on the day), as of 10/20/2026 — a delayed quote shown for education, not investment advice.

SBA Communications

SBAC · NYSE · Real Estate · United States

Snapshot

TickerSBAC

ExchangeNYSE

SectorReal Estate

IndustryREIT - Specialty

CountryUnited States

Employees1,844

HeadquartersBoca Raton, United States

Websitewww.sbasite.com

Filings tracked15

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure, including tower structures, rooftops and other structures that support antennas used for wireless communications. In our site leasing business, we lease space to wireless service providers and other customers on assets we own or operate, and manage rooftop and tower sites for property owners under various contractual arrangements. As of December 31, 2025, we owned 46,328 towers, a substantial portion of which were built by us or by other tower owners or operators who, like us, build towers to lease space to multiple wireless service providers. As of December 31, 2025, each of our towers had an average of 1.8 tenants. SBA Communications Corporation was established in 1989 and was incorporated in Florida.

Who owns it

Insiders0.8%
Institutions99.2%
Public & other0.0%

1,009 institutional holders

Ownership breakdown from public market data.

Top holders

Dodge & Cox Inc.11.62%
Blackrock Inc.9.56%
Vanguard Portfolio Management LLC9.25%
Vanguard Capital Management LLC6.54%
State Street Corporation4.83%
Cohen & Steers Inc.3.06%
Geode Capital Management, LLC2.99%
JPMORGAN CHASE & CO2.55%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Profit has grown much faster than revenue while recent results carried sizeable one-off items — some of the profit growth may not repeat.

Cash conversion1.81×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Operating margin trend474.5% → 549.2%

Margin has expanded by about 74.7 points — the business is getting more profitable.

Growth qualityrev 12% · PAT 45%

Profit has grown much faster than revenue while recent results carried sizeable one-off items — some of the profit growth may not repeat.

One-off items3 of last 3 yrs

Recent reported profit includes sizeable one-off / non-operating items — the underlying operating trend may differ from the headline.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $720.9M · EPS 1.98

Est. earnings growth -42.9%

Next fiscal year

Rev $2.9B · EPS 8.10

Est. earnings growth +5.3%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$244.5M

Revenue CAGR (2y)

+12.1%

Profit CAGR (2y)

+44.9%

EPS (FY2025)

9.80

Net profit (FY2025)

$1.1B

Ask MarketChacha about SBAC

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS
FY2025	$244.5M	$1.1B*	9.80
FY2024	$152.9M	$749.5M*	6.94
FY2023	$194.6M	$501.8M*	4.61

* Net profit includes one-off / non-operating items (e.g. a settlement or accounting gain), so it doesn’t reflect operating performance — net margin is hidden for that period.

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$51.4M	$198.8M*	1.87	—
2026Q1	$47.3M	$184.8M*	1.74	—
2025Q4	$719.6M	$370.3M	3.47	51.5%
2025Q3	$75.9M	$236.8M*	2.20	—
2025Q2	$67.2M	$225.8M*	2.09	—
2025Q1	$48.0M	$220.7M*	2.04	—
2024Q4	$693.7M	$173.6M	1.61	25.0%
2024Q3	$41.9M	$258.5M*	2.40	—
2024Q2	$34.0M	$162.8M*	1.51	—
2024Q1	$29.6M	$154.5M*	1.42	—
2023Q4	$675.0M	$109.5M	1.01	16.2%
2023Q3	$45.1M	$87.4M*	0.80	—
2023Q2	$52.4M	$203.6M*	1.87	—

* Net profit includes one-off / non-operating items (e.g. a settlement or accounting gain), so it doesn’t reflect operating performance — net margin is hidden for that period.

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

10-Q filing
SEC8/6/2026
8-K — Results of operations, Exhibits
SEC8/3/2026material
8-K — Material agreement, Termination of agreement, Material financial obligation, Exhibits
SEC7/24/2026material
8-K — Other events, Exhibits
SEC7/23/2026material
8-K — Material agreement, Exhibits
SEC7/15/2026material
8-K — Shareholder vote results
SEC5/22/2026material
10-Q filing
SEC5/5/2026
8-K — Results of operations, Exhibits
SEC4/29/2026material
8-K — Executive/director change
SEC3/27/2026material
10-K filing
SEC2/27/2026
8-K — Results of operations, Exhibits
SEC2/26/2026material

2025

10-Q filing
SEC11/6/2025
8-K — Results of operations, Exhibits
SEC11/3/2025material
10-Q filing
SEC8/7/2025
8-K — Results of operations, Exhibits
SEC8/4/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.