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SBA Communications Corporation's published Reduce conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.
| Market cap | $19.5B | |
|---|---|---|
| Revenue (ttm) | 2.9B | |
| Net income (ttm) | 990.7M | |
| EPS (ttm) | $9.28 | |
| Shares out | 106.1M | |
| P/E (trailing) | 19.9x | |
| P/E (forward) | 19.4x | |
| Dividend | $5.00 (2.72%) | |
| Volume | 827,977 | |
| Beta | 0.99 |
Recent price action with selectable time range.
| Item | P1 | P2 | P3 | P4 | P5 | Trend |
|---|---|---|---|---|---|---|
| Period | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | Trend |
| Revenue | $204.7M | $296.9M | $194.6M | $152.9M | $244.5M | +4.5% |
| Gross profit | $1.76B | $1.96B | $2.10B | $2.10B | $2.12B | +4.8% |
| Operating income | $782.5M | $925.4M | $923.7M | $1.44B | $1.34B | +14.5% |
| Net income | $237.6M | $461.4M | $501.8M | $749.5M | $1.05B | +45.1% |
| EPS (diluted) | $2.14 | $4.22 | $4.61 | $6.94 | $9.80 | +46.3% |
| EBITDA | $1.51B | $1.68B | $1.79B | $1.79B | $2.00B | +7.2% |
| R&D | $0 | $0 | $0 | — | — | +34.8% |
| SG&A | $220.0M | $261.9M | $267.9M | $258.8M | $277.6M | +6.0% |
Recent company headlines from major financial publishers.
The modal base case path reflects steady operational execution anchored by contractual domestic escalators and international CPI adjustments, delivering steady revenue growth. Sprint consolidation churn and EchoStar churn create near-term domestic revenue headwinds, but normalized operating margins hold steady. The primary forward earnings and discounted cash flow models yield a composite Fair value of $148.18.
In the upside scenario, US carriers rapidly accelerate fifth-generation mid-band cell site densification to alleviate wireless data congestion, driving domestic colocation amendment growth well above historical baselines. Simultaneously, international tower builds exceed targets, delivering robust CPI-linked escalations. Accretive execution under the authorized share repurchase program compounds per-share cash flow, elevating Fair value toward $206.36.
| Ke ↓ / g → | 2.0% | 2.3% | 2.5% | 2.8% | 3.0% |
|---|---|---|---|---|---|
| 7.9% | $156 | $159 | $161 | $164 | $167 |
| 8.4% | $150 | $152 | $154 | $157 | $159 |
| 8.9% | $145 | $146 | $148 | $150 | $152 |
| 9.4% | $140 | $141 | $143 | $145 | $146 |
| 9.9% | $136 | $137 | $138 | $140 | $141 |
Upcoming earnings date and setup when available.
The rating each month's published research edition carried. A rating compares the price at analysis with the Fair value; it is not a record of whether the call was right.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 |
