SBA COMMUNICATIONS CORP
About SBA COMMUNICATIONS CORP
SBA Communications owns a portfolio of about 46,000 wireless towers throughout North America, South America, and Africa. It leases space on its towers to wireless service providers, who install equipment to support their wireless networks. The company has a very concentrated customer base, with most revenue in each market generated by the top three or four mobile carriers. It owns more than 17,000 towers in the US, which account for about 70% of leasing revenue. Internationally, SBA's largest markets are Brazil and Guatemala, where it owns roughly 12,000 and 5,000 towers, respectively. SBA operates as a real estate investment trust.
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Financial summary
- Revenue FY2025
- $244.5M
- Net income
- $1.1B
- Total assets
- $11.6B
- Market cap
- $22.1B
- Gross margin
- 75.5%
- Operating margin
- 47.7%
- Net margin
- 37.5%
Source: SEC EDGAR · updated Jun 7, 2026
Revenue & profit trend
Financial statements
Income statement
- Revenue
- $2.8B
- Cost of revenue
- $691.0M
- Gross profit
- $2.1B
- Operating expenses
- $781.4M
- Operating income
- $1.3B
- Income tax
- $187.6M
- Net income
- $1.1B
- EPS (basic)
- $9.83
- EPS (diluted)
- $9.80
Balance sheet
- Total assets
- $11.6B
- Current assets
- $773.4M
- Total liabilities
- $16.4B
- Current liabilities
- $2.7B
- Shareholders’ equity
- -$4.9B
Cash flow
- Operating cash flow
- $1.3B
- Investing cash flow
- -$601.8M
- Financing cash flow
- -$1.7B
- Net cash flow
- -$963.6M
Statements via Polygon.io (SEC filings)
15-minute delayed · data by Polygon.io
Past year
52-week range
- Market cap
- $22.1B
- P/E ratio
- 20.4
- EPS (diluted)
- $9.8
- Dividend yield
- 2.5%
- Shares outstanding
- 110.3M
- Open
- —
- Day range
- –
- Prev close
- —
- Volume
- —
- IPO date
- Jun 16, 1999
Market data by Polygon.io · prices are 15-minute delayed
At a glance
- Profitable — net income of $1.1B in FY2025.
- Revenue grew 22% from FY2021 to FY2025.
- Gross margin of 75.5%, net margin 37.5%.
- Trading 18% below its 52-week high.
- Pays a dividend yielding about 2.5% annually.
- Valued at a price-to-earnings (P/E) ratio of 20.4.
Automatically generated from public filings and market data. Informational only — not investment advice or a recommendation to buy or sell any security.
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