What is SBAC revenue?

SBA Communications Corporation (SBAC) reported $2.85B of revenue for the twelve months ended Sep 30, 2026. That is up 2.3% from the year before. Revenue for fiscal 2025 was $2.82B.

Yes. SBA Communications Corporation earned $985.20M in net income for the twelve months ended Sep 30, 2026, a net margin of 34.5%.

How much cash and debt does SBAC have?

SBA Communications Corporation reported $417.53M in cash and cash equivalents and $12.90B of debt on its most recent balance sheet in SEC filings.

How fast is SBAC revenue growing?

SBA Communications Corporation's revenue changed +5.1% in fiscal 2025, to $2.82B. Its compound annual growth rate was +6.2% over 5 years and +5.6% over 10 years.

What is SBAC gross margin?

SBA Communications Corporation's gross profit was $2.16B on $2.85B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 75.7%.

What is SBAC free cash flow?

SBA Communications Corporation generated $1.05B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.30B less capital expenditures.

What is SBAC earnings per share?

Diluted earnings per share were $9.27 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.

When did SBAC last report financial results?

The latest statements here come from SBA Communications Corporation's 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.

Financials · SBAC

SBA Communications Corporation (SBAC) financials

For the twelve months ended Sep 30, 2026, SBA Communications Corporation reported $2.85B of revenue and $985.20M of net income.

Revenue, TTM: $2.85B
Revenue growth, YoY: +2.3%
Net income, TTM: $985.20M
Net income growth, YoY: +15.0%
Net margin: 34.5%
Free cash flow, TTM: $1.05B
EPS, diluted, TTM: $9.27
EPS growth, YoY: +16.8%
Cash: $417.53M
Total debt: $12.90B
P/E: 20.18
P/S: 6.97
Market cap: $19.88B

Annual revenue$2.82B

FY2016FY2025

Annual net income$1.05B

FY2016FY2025

Annual free cash flow$1.07B

FY2016FY2025

SBAC revenue and earnings growth

SBAC revenueQ3 2026$713.92M

Quarter YoY: -2.5%
QoQ: -0.2%
FY YoY: +5.1%
5Y CAGR: +6.2%
10Y CAGR: +5.6%

SBAC revenue was $713.92M in fiscal Q3 2026 (ended Sep 30, 2026), down 2.5% from a year earlier and down 0.2% from the prior quarter. For the full fiscal 2025 it was $2.82B, up 5.1% from fiscal 2024. Compound annual growth was +6.2% over 5 years and +5.6% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

SBAC net incomeQ3 2026$231.31M

Quarter YoY: -2.3%
QoQ: +16.4%
FY YoY: +40.6%
5Y CAGR: +112.9%

SBAC net income was $231.31M in fiscal Q3 2026 (ended Sep 30, 2026), down 2.3% from a year earlier and up 16.4% from the prior quarter. For the full fiscal 2025 it was $1.05B, up 40.6% from fiscal 2024. Compound annual growth was +112.9% over 5 years. It rose in 7 of the last 9 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

SBAC EPSQ3 2026$2.19

Quarter YoY: -0.5%
QoQ: +17.1%
FY YoY: +41.2%
5Y CAGR: +115.7%

SBAC diluted EPS was $2.19 in fiscal Q3 2026 (ended Sep 30, 2026), down 0.5% from a year earlier and up 17.1% from the prior quarter. For the full fiscal 2025 it was $9.80, up 41.2% from fiscal 2024. Compound annual growth was +115.7% over 5 years.

SBAC free cash flowQ3 2026$259.06M

Quarter YoY: +6.5%
QoQ: -24.9%
FY YoY: -3.6%
5Y CAGR: +1.3%
10Y CAGR: +7.6%

SBAC free cash flow was $259.06M in fiscal Q3 2026 (ended Sep 30, 2026), up 6.5% from a year earlier and down 24.9% from the prior quarter. For the full fiscal 2025 it was $1.07B, down 3.6% from fiscal 2024. Compound annual growth was +1.3% over 5 years and +7.6% over 10 years. It rose in 8 of the last 10 fiscal years.

Export CSV

Income statement

Income statement
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue	$2.82B	$2.68B	$2.71B	$2.63B	$2.31B	$2.08B	$2.01B	$1.87B	$1.73B	$1.63B
Cost of revenue	$690.97M	$581.73M	$612.62M	$668.65M	$545.48M	$476.53M	$493.03M	$468.80M	$446.31M	$420.90M
Gross profit	$2.12B	$2.10B	$2.10B	$1.96B	$1.76B	$1.61B	$1.52B	$1.40B	$1.28B	$1.21B
Selling, general and admin	$277.61M	$258.76M	$267.94M	$261.85M	$220.03M	$194.27M	$192.72M	$142.53M	$130.70M	$143.35M
Operating income	$1.34B	$1.44B	$923.66M	$925.41M	$782.50M	$633.69M	$583.49M	$544.17M	$458.50M	$387.31M
Pre-tax income	$1.24B	$772.67M	$548.50M	$525.84M	$252.56M	-$17.75M	$186.89M	$51.68M	$116.89M	$87.30M
Income tax	$187.58M	$23.99M	$51.09M	$66.04M	$14.94M	-$41.80M	$39.60M	$4.23M	$13.24M	$11.06M
Net income	$1.05B	$749.54M	$501.81M	$461.43M	$237.62M	$24.10M	$146.99M	$47.45M	$103.65M	$76.24M
EPS, basic	$9.83	$6.96	$4.64	$4.27	$2.17	$0.22	$1.30	$0.41	$0.86	$0.61
EPS, diluted	$9.80	$6.94	$4.61	$4.22	$2.14	$0.21	$1.28	$0.41	$0.86	$0.61
Diluted shares	107.5M	108.1M	108.9M	109.4M	111.2M	113.5M	114.7M	116.5M	121.0M	125.1M

Balance sheet

Balance sheet
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Cash and equivalents	$264.57M	$1.40B	$208.55M	$189.28M	$435.63M	$342.81M	$141.12M	$178.30M	$104.30M	$185.97M
Short-term investments	$6.65M	$254.53M	$1.05M	$1.33M	$778.0K	$700.0K	$500.0K	$239.0K	-	$223.0K
Receivables	$171.26M	$145.69M	$182.75M	$184.37M	$101.95M	$74.09M	$132.13M	$111.03M	$90.67M	$78.34M
Current assets	$773.43M	$1.98B	$484.27M	$482.73M	$614.45M	$472.99M	$334.27M	$373.85M	$259.53M	$324.57M
Total assets	$11.58B	$11.42B	$10.18B	$10.59B	$9.80B	$9.16B	$9.76B	$7.21B	$7.32B	$7.36B
Current liabilities	$2.68B	$1.80B	$1.36B	$696.76M	$616.33M	$614.80M	$1.05B	$1.21B	$278.90M	$873.45M
Short-term debt	$1.94B	$1.19B	$643.14M	$24.00M	$24.00M	$24.00M	$522.09M	$941.73M	$20.00M	$627.16M
Long-term debt	$10.96B	$12.40B	$11.68B	$12.84B	$12.28B	$11.07B	$9.81B	$9.00B	$9.29B	$8.15B
Total debt	$12.90B	$13.59B	$12.32B	$12.87B	$12.30B	$11.10B	$10.33B	$9.94B	$9.31B	$8.78B
Shareholders' equity	-$4.85B	-$5.11B	-$5.17B	-$5.28B	-$5.28B	-$4.82B	-$3.67B	-$3.38B	-$2.60B	-$2.00B

Cash flow

Cash flow
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Operating cash flow	$1.29B	$1.33B	$1.54B	$1.29B	$1.19B	$1.13B	$970.04M	$850.62M	$818.47M	$742.52M
Capital expenditures	$224.82M	$228.15M	$236.70M	$214.44M	$133.69M	$128.57M	$154.24M	$149.81M	$147.04M	$139.98M
Free cash flow	$1.07B	$1.11B	$1.31B	$1.07B	$1.06B	$997.47M	$815.81M	$700.81M	$671.43M	$602.54M
Investing cash flow	-$601.83M	-$809.31M	-$468.25M	-$1.39B	-$1.42B	-$446.37M	-$947.16M	-$618.35M	-$605.11M	-$428.24M
Financing cash flow	-$1.66B	$645.74M	-$1.02B	-$135.47M	$339.26M	-$469.02M	-$62.31M	-$148.54M	-$294.57M	-$288.56M
Dividends paid	$479.01M	$424.19M	$369.96M	$306.77M	$253.58M	$207.69M	$83.39M	-	-	-
Share repurchases	$497.81M	$200.02M	$100.01M	$431.67M	$582.58M	$859.34M	$466.98M	$795.58M	$854.53M	$545.69M
Stock-based compensation	$75.73M	$74.37M	$87.92M	$99.91M	$84.40M	$68.89M	$73.21M	$42.33M	$38.25M	$32.91M
Depreciation and amortization	$292.29M	$269.52M	$716.31M	$707.58M	$700.16M	$721.97M	$697.08M	$672.11M	$643.10M	$638.19M

Key ratios

Key ratios
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue growth, YoY	5.1%	-1.2%	3.0%	14.1%	10.8%	3.4%	8.0%	8.0%	5.8%	-0.3%
Net income growth, YoY	40.6%	49.4%	8.8%	94.2%	885.8%	-83.6%	209.8%	-54.2%	36.0%	-
EPS growth, YoY	41.2%	50.5%	9.2%	97.2%	919.0%	-83.6%	212.2%	-52.3%	41.0%	-
Gross margin	75.5%	78.3%	77.4%	74.6%	76.4%	77.1%	75.5%	74.9%	74.2%	74.2%
Operating margin	47.7%	53.6%	34.1%	35.1%	33.9%	30.4%	29.0%	29.2%	26.5%	23.7%
Net margin	37.4%	28.0%	18.5%	17.5%	10.3%	1.2%	7.3%	2.5%	6.0%	4.7%
Free cash flow margin	37.9%	41.3%	48.2%	40.7%	45.7%	47.9%	40.5%	37.6%	38.9%	36.9%
Return on assets	9.1%	6.6%	4.9%	4.4%	2.4%	0.3%	1.5%	0.7%	1.4%	1.0%
Current ratio	0.29	1.10	0.36	0.69	1.00	0.77	0.32	0.31	0.93	0.37

Income statement

Income statement
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025 Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024 Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023 Dec 31, 2023
Revenue	$713.92M	$715.27M	$703.44M	$719.58M	$732.33M	$698.98M	$664.25M	$693.70M	$667.60M	$660.48M	$657.86M	$675.02M
Cost of revenue	$171.52M	$176.00M	$171.34M	$175.42M	$189.79M	$172.10M	$153.67M	$152.13M	$150.34M	$141.27M	$137.99M	$144.30M
Gross profit	$542.40M	$539.27M	$532.10M	$544.16M	$542.54M	$526.88M	$510.58M	$541.57M	$517.26M	$519.21M	$519.87M	$530.73M
Selling, general and admin	$68.01M	$77.55M	$70.55M	$74.36M	$66.01M	$71.02M	$66.22M	$67.59M	$60.09M	$62.38M	$68.70M	$67.52M
Operating income	$367.74M	$351.86M	$342.85M	$298.93M	$374.17M	$334.78M	$334.91M	$382.34M	$375.60M	$354.47M	$323.36M	$209.69M
Pre-tax income	$254.59M	$232.47M	$236.01M	$432.28M	$289.08M	$260.75M	$259.93M	$155.87M	$298.21M	$147.12M	$171.47M	$138.42M
Income tax	$22.23M	$35.99M	$51.11M	$61.85M	$48.65M	$35.06M	$42.02M	-$22.92M	$42.32M	-$12.34M	$16.93M	$28.90M
Net income	$231.31M	$198.78M	$184.83M	$370.29M	$236.82M	$225.79M	$220.73M	$173.63M	$258.53M	$162.83M	$154.54M	$109.53M
EPS, basic	$2.19	$1.87	$1.75	$3.48	$2.21	$2.10	$2.05	$1.61	$2.41	$1.52	$1.43	$1.01
EPS, diluted	$2.19	$1.87	$1.74	$3.47	$2.20	$2.09	$2.04	$1.61	$2.40	$1.51	$1.42	$1.01
Diluted shares	105.7M	106.3M	106.1M	-	107.6M	107.8M	108.1M	-	107.9M	107.7M	108.6M	-

Balance sheet

Balance sheet
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025 Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024 Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023 Dec 31, 2023
Cash and equivalents	$417.53M	$327.05M	$269.06M	$264.57M	$465.39M	$300.52M	$664.11M	$1.40B	$251.49M	$283.14M	$264.33M	$208.55M
Short-term investments	$25.98M	$28.89M	$112.06M	$6.65M	$761.0K	$1.55M	$65.73M	$254.53M	$16.25M	$30.40M	$1.58M	$1.05M
Receivables	$151.41M	$175.98M	$161.47M	$171.26M	$158.13M	$139.89M	$129.85M	$145.69M	$111.02M	$88.65M	$126.53M	$182.75M
Current assets	$844.57M	$744.77M	$767.49M	$773.43M	$812.52M	$523.81M	$933.32M	$1.98B	$450.27M	$460.01M	$447.60M	$484.27M
Total assets	$11.62B	$11.74B	$11.72B	$11.58B	$11.26B	$10.77B	$10.44B	$11.42B	$10.20B	$9.79B	$10.00B	$10.18B
Current liabilities	$4.31B	$4.34B	$3.35B	$2.68B	$1.61B	$1.43B	$1.34B	$1.80B	$667.84M	$2.46B	$2.41B	$1.36B
Short-term debt	$3.56B	$3.58B	$2.68B	$1.94B	$772.56M	$772.18M	$771.80M	$1.19B	$23.00M	$1.81B	$1.81B	$643.14M
Long-term debt	$9.34B	$9.15B	$10.28B	$10.96B	$11.93B	$11.74B	$11.65B	$12.40B	$12.30B	$10.47B	$10.55B	$11.68B
Total debt	$12.90B	$12.73B	$12.96B	$12.90B	$12.71B	$12.51B	$12.43B	$13.59B	$12.32B	$12.28B	$12.36B	$12.32B
Shareholders' equity	-$4.83B	-$4.63B	-$4.75B	-$4.85B	-$4.93B	-$4.94B	-$4.97B	-$5.11B	-$5.17B	-$5.32B	-$5.22B	-$5.17B

Cash flow

Cash flow
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025 Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024 Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023 Dec 31, 2023
Operating cash flow	$331.84M	$407.18M	$255.09M	$304.02M	$318.03M	$368.10M	$301.18M	$310.17M	$304.65M	$425.59M	$294.45M	$432.61M
Capital expenditures	$72.78M	$62.42M	$48.40M	$62.73M	$74.72M	$646.93M	$46.17M	$55.55M	$272.30M	$91.59M	$57.87M	$62.72M
Free cash flow	$259.06M	$344.76M	$206.69M	$241.30M	$243.31M	-$278.83M	$255.00M	$254.62M	$32.35M	$334.00M	$236.58M	$369.89M
Investing cash flow	$40.05M	-$13.72M	-$296.77M	-$180.82M	-$78.31M	-$580.96M	$238.27M	-$328.89M	-$273.90M	-$121.21M	-$85.31M	-$106.37M
Financing cash flow	-$291.01M	-$366.73M	-$69.61M	-$143.36M	-$79.80M	-$158.28M	-$1.28B	$1.18B	-$65.91M	-$276.52M	-$191.41M	-$311.55M
Dividends paid	$131.26M	$132.65M	$135.19M	$118.23M	$119.14M	$119.36M	$122.28M	$105.38M	$105.34M	$105.33M	$108.14M	$91.76M
Share repurchases	$300.03M	-	-	$216.27M	$150.84M	-	-	$0	$0	$93.86M	$106.16M	$46.36M
Stock-based compensation	$17.96M	$26.80M	$18.94M	$19.18M	$19.32M	$21.52M	$15.71M	$17.93M	$16.37M	$18.60M	$21.47M	$22.09M
Depreciation and amortization	$84.43M	$81.37M	$81.32M	$80.39M	$76.88M	$69.96M	$65.05M	$65.07M	$63.52M	$64.18M	$76.75M	$171.40M

Key ratios

Key ratios
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025 Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024 Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023 Dec 31, 2023
Revenue growth, YoY	-2.5%	2.3%	5.9%	3.7%	9.7%	5.8%	1.0%	2.8%	-2.2%	-2.7%	-2.6%	-1.6%
Net income growth, YoY	-2.3%	-12.0%	-16.3%	113.3%	-8.4%	38.7%	42.8%	58.5%	195.7%	-20.0%	52.7%	6.0%
EPS growth, YoY	-0.5%	-10.5%	-14.7%	115.5%	-8.3%	38.4%	43.7%	59.4%	200.0%	-19.3%	52.7%	7.4%
Gross margin	76.0%	75.4%	75.6%	75.6%	74.1%	75.4%	76.9%	78.1%	77.5%	78.6%	79.0%	78.6%
Operating margin	51.5%	49.2%	48.7%	41.5%	51.1%	47.9%	50.4%	55.1%	56.3%	53.7%	49.2%	31.1%
Net margin	32.4%	27.8%	26.3%	51.5%	32.3%	32.3%	33.2%	25.0%	38.7%	24.7%	23.5%	16.2%
Free cash flow margin	36.3%	48.2%	29.4%	33.5%	33.2%	-39.9%	38.4%	36.7%	4.8%	50.6%	36.0%	54.8%
Current ratio	0.20	0.17	0.23	0.29	0.50	0.37	0.69	1.10	0.67	0.19	0.19	0.36

Source: XBRL data SBA Communications Corporation files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

SBAC peers

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SBAC	$2.85B	+2.3%	$985.20M	34.5%	$19.88B
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PLDPrologis Inc.	$8.95B	+6.7%	$3.71B	41.5%	$124.09B
EQIXEquinix Inc.	$10.06B	+11.1%	$1.65B	16.4%	$104.38B
AMTAmerican Tower Corporation (REIT)	$11.01B	+5.3%	$3.31B	30.1%	$87.65B
SPGSimon Property Group Inc.	$7.15B	+16.2%	$4.51B	63.0%	$75.39B
DLRDigital Realty Trust Inc.	$6.34B	+12.6%	$1.38B	21.7%	$68.13B
PSAPublic Storage	$5.03B	+5.2%	$1.90B	37.8%	$63.18B
ORealty Income Corporation	$6.21B	+10.8%	$1.36B	21.8%	$56.58B

SBAC FAQ

9 questions

What is SBAC revenue?
SBA Communications Corporation (SBAC) reported $2.85B of revenue for the twelve months ended Sep 30, 2026. That is up 2.3% from the year before. Revenue for fiscal 2025 was $2.82B.
Is SBAC profitable?
Yes. SBA Communications Corporation earned $985.20M in net income for the twelve months ended Sep 30, 2026, a net margin of 34.5%.
How much cash and debt does SBAC have?
SBA Communications Corporation reported $417.53M in cash and cash equivalents and $12.90B of debt on its most recent balance sheet in SEC filings.
How fast is SBAC revenue growing?
SBA Communications Corporation's revenue changed +5.1% in fiscal 2025, to $2.82B. Its compound annual growth rate was +6.2% over 5 years and +5.6% over 10 years.
What is SBAC gross margin?
SBA Communications Corporation's gross profit was $2.16B on $2.85B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 75.7%.
What is SBAC free cash flow?
SBA Communications Corporation generated $1.05B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.30B less capital expenditures.
What is SBAC earnings per share?
Diluted earnings per share were $9.27 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
When did SBAC last report financial results?
The latest statements here come from SBA Communications Corporation's 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
Where does this SBAC financial data come from?
Quantisnow builds these statements from the structured XBRL data SBA Communications Corporation files with the SEC. It is provided for information only and is not investment advice.