SBAC
SBA Communications CorporationStock · Real EstateUS REITs 1.3% · S&P 500 Equal Weight 0.2% · Nasdaq Composite 0.04% · S&P 500 0.03% · Russell 1000 0.03% · Russell 3000 0.03% · US Stock Market 0.03% · MSCI World 0.02% · MSCI ACWI 0.02%$178.59-1.40%
as of market close, Sep 18, 2026
☾ AH $178.59 +0.00%
SBAC financial statements
The full income statement, balance sheet, and cash-flow statement for SBA Communications Corporation (SBAC), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 107.5M2024-09 107.5M2024-12 107.6M2025-03 107.5M2025-06 107.4M2025-09 106.5M2025-12 105.8M2026-03 106.1M2026-06 106.1M-1.3% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 2.82B+5.1% | 2.68B-1.2% | 2.71B+3.0% | 2.63B+14.1% | 2.31B+10.8% | ||
| Lease income | 2.57B+1.7% | 2.53B+0.4% | 2.52B+7.7% | 2.34B+11.0% | 2.10B+7.7% | |
| 2.12B+1.3% | 2.10B-0.1% | 2.10B+6.8% | 1.96B+11.4% | 1.76B+9.8% | ||
| Cost of revenue | 691M+18.8% | 582M-5.0% | 613M-8.4% | 669M+22.6% | 545M+14.5% | |
| Selling, general & administrative | 278M+7.3% | 259M-3.4% | 268M+2.3% | 262M+19.0% | 220M+13.3% | |
| Amortization of intangibles | 115M+7.5% | 107M-73.0% | 397M-2.2% | 406M-1.4% | 412M-5.2% | |
| Provision for credit losses | 9.37M+154.6% | 3.68M-1.4% | 3.73M+490.3% | 632K+43.6% | 440K-29.0% | |
| Operating income | 1.34B-6.5% | 1.44B+55.4% | 924M-0.2% | 925M+18.3% | 782M+23.5% | |
| Interest & investment income | 31.7M-24.5% | 42.0M+129.2% | 18.3M+80.6% | 10.1M+193.9% | 3.45M+15.7% | |
| Other non-operating income | 366M+246.2% | -250M-497.2% | 63.1M+502.4% | 10.5M+114.1% | -74.3M+66.6% | |
| Pre-tax income | 1.24B+60.7% | 773M+40.9% | 549M+4.3% | 526M+108.2% | 253M+1523.0% | |
| Income tax | 188M+682.0% | 24.0M-53.0% | 51.1M-22.6% | 66.0M+342.1% | 14.9M+135.7% | |
| 1.05B+40.6% | 750M+49.4% | 502M+8.8% | 461M+94.2% | 238M+885.8% | ||
| Net income to non-controlling interest | 824K+195.9% | -859K+80.5% | -4.40M-169.8% | -1.63M | — | |
| $9.80+41.2% | $6.94+50.5% | $4.61+9.2% | $4.22+97.2% | $2.14+919.0% | ||
| EPS (basic) | $9.83+41.2% | $6.96+50.0% | $4.64+8.7% | $4.27+96.8% | $2.17+886.4% | |
| Weighted-avg shares (basic) | 107M-0.4% | 108M-0.5% | 108M+0.2% | 108M-1.3% | 109M-2.0% | |
| Weighted-avg shares (diluted) | 108M-0.5% | 108M-0.8% | 109M-0.4% | 109M-1.6% | 111M-2.0% | |
| Dividends per share | $4.53+14.9% | $3.94+15.2% | $3.42+20.5% | $2.84+20.8% | $2.35+23.7% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 773M-60.9% | 1.98B+308.6% | 484M+0.3% | 483M-21.4% | 614M+29.9% | ||
| Cash & equivalents | 265M+39.4% | 190M-9.0% | 209M+45.1% | 144M-60.9% | 367M+19.0% | |
| Short-term investments | 6.60M-97.4% | 255M+24234.0% | 1.05M-21.4% | 1.33M+71.1% | 778K+11.1% | |
| Accounts receivable | 171M+17.5% | 146M-20.3% | 183M-0.9% | 184M+80.8% | 102M+37.6% | |
| Prepaid expenses | 142M-66.1% | 417M+981.4% | 38.6M+16.4% | 33.1M+7.6% | 30.8M+29.1% | |
| Other current assets | 34.7M+52.5% | 22.8M+37.1% | 16.6M+23.4% | 13.4M-13.8% | 15.6M+23.9% | |
| 11.6B+1.4% | 11.4B+12.2% | 10.2B-3.8% | 10.6B+8.0% | 9.80B+7.0% | ||
| Property, plant & equipment | 3.40B+21.8% | 2.79B+3.0% | 2.71B-0.1% | 2.71B+5.4% | 2.58B-3.8% | |
| Operating lease right-of-use | 2.54B+10.8% | 2.29B+2.3% | 2.24B-5.9% | 2.38B+5.0% | 2.27B-4.3% | |
| Intangible assets | 2.88B+20.7% | 2.39B-2.7% | 2.46B-11.6% | 2.78B-1.0% | 2.80B-11.2% | |
| Long-term investments | 21.1M+1.5% | 20.8M-15.3% | 24.5M-39.7% | 40.7M-15.0% | 47.9M-16.8% | |
| Other non-current assets | 652M-0.8% | 657M-19.1% | 812M+12.5% | 722M+25.5% | 576M+20.4% | |
| 2.68B+49.0% | 1.80B+31.9% | 1.36B+95.7% | 697M+13.1% | 616M+0.2% | ||
| Accounts payable | 73.0M+22.6% | 59.5M+41.1% | 42.2M-17.9% | 51.4M+51.0% | 34.1M-69.0% | |
| Accrued liabilities | 93.5M+14.1% | 82.0M-11.5% | 92.6M-8.7% | 101M+49.1% | 68.1M+8.0% | |
| Deferred revenue | 7.18M+35.7% | 5.29M-5.4% | 5.60M-77.8% | 25.2M+345.5% | 5.65M+215.2% | |
| Short-term & current debt | 1.94B+63.0% | 1.19B+84.7% | 643M+2579.8% | 24.0M+0.0% | 24.0M+0.0% | |
| Current lease liability | 297M+14.4% | 260M-4.4% | 272M+4.5% | 260M+9.8% | 237M+0.9% | |
| Other current liabilities | 94.0M+424.3% | 17.9M-3.9% | 18.7M-61.7% | 48.8M+167.6% | 18.2M+27.5% | |
| Finance lease liability (current) | 2.49M+98.8% | 1.25M-25.1% | 1.67M-26.8% | 2.28M+34.8% | 1.69M+18.2% | |
| Long-term debt | 11.0B-11.6% | 12.4B+6.2% | 11.7B-9.1% | 12.8B+4.6% | 12.3B+10.9% | |
| Non-current lease liability | 2.11B+11.2% | 1.90B+2.1% | 1.86B-8.6% | 2.04B+2.9% | 1.98B-5.4% | |
| Operating lease liability (total) | 2.41B+11.6% | 2.16B+1.3% | 2.13B-7.1% | 2.30B+3.7% | 2.22B-4.8% | |
| Finance lease liability (total) | 6.97M+122.2% | 3.14M-35.3% | 4.85M-10.5% | 5.42M+42.2% | 3.81M+10.6% | |
| Finance lease liability | 4.48M+137.7% | 1.89M-40.7% | 3.18M+1.4% | 3.13M+48.2% | 2.11M+5.2% | |
| Other non-current liabilities | 588M+59.9% | 368M-9.0% | 404M+62.9% | 248M+29.6% | 191M+2.8% | |
| Total non-current liabilities | 13.7B-6.8% | 14.7B+5.2% | 14.0B-7.8% | 15.1B+4.7% | 14.5B+8.2% | |
| -4.85B+5.0% | -5.11B+1.2% | -5.17B+2.0% | -5.28B+0.1% | -5.28B-9.5% | ||
| Common stock | 1.06M-1.8% | 1.08M-0.4% | 1.08M+0.0% | 1.08M-0.8% | 1.09M-0.8% | |
| Additional paid-in capital | 3.06B+2.8% | 2.98B+2.8% | 2.89B+3.5% | 2.80B+4.2% | 2.68B+3.7% | |
| Retained earnings | -7.25B+1.0% | -7.33B+1.7% | -7.45B+0.4% | -7.48B-3.9% | -7.20B-9.1% | |
| Accumulated other comprehensive income | -664M+12.7% | -760M-23.6% | -615M-4.2% | -591M+22.5% | -762M+5.6% | |
| Total liabilities & equity | 11.6B+1.4% | 11.4B+12.2% | 10.2B-3.8% | 10.6B+8.0% | 9.80B+7.0% | |
| Common shares issued | 106M-1.8% | 108M-0.5% | 108M+0.0% | 108M-0.9% | 109M-0.8% | |
| Common shares outstanding | 106M-1.8% | 108M-0.5% | 108M+0.0% | 108M-0.9% | 109M-0.8% | |
| Shares outstanding (cover) | 106M-1.7% | 108M-0.5% | 108M+0.1% | 108M+0.1% | 108M-1.3% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.29B-3.3% | 1.33B-13.6% | 1.54B+20.1% | 1.29B+8.1% | 1.19B+5.7% | ||
| Depreciation & amortization | 292M+8.4% | 270M-62.4% | 716M+1.2% | 708M+1.1% | 700M-3.0% | |
| Intangible amortization | 115M+7.5% | 107M-73.0% | 397M-2.2% | 406M-1.4% | 412M-5.2% | |
| Share-based compensation | 75.7M+1.8% | 74.4M-15.4% | 87.9M-12.0% | 99.9M+18.4% | 84.4M+22.5% | |
| Deferred income taxes | 104M+898.1% | -13.1M-382.7% | 4.63M-85.9% | 32.9M+486.6% | -8.51M+86.5% | |
| -602M+25.6% | -809M-72.8% | -468M+66.4% | -1.39B+2.1% | -1.42B-218.9% | ||
| Capital expenditure | 225M-1.5% | 228M-3.6% | 237M+10.4% | 214M+60.4% | 134M+4.0% | |
| Free cash flow | 1.07B-3.6% | 1.11B-15.4% | 1.31B+22.1% | 1.07B+1.4% | 1.06B+5.9% | |
| Acquisitions | 1.06B+253.2% | 300M+130.7% | 130M-88.9% | 1.18B-6.5% | 1.26B+363.4% | |
| Purchases of investments | 1.17B-35.2% | 1.80B+34.5% | 1.34B+51.9% | 882M-49.1% | 1.73B+34.3% | |
| Sales/maturities of investments | 1.40B-8.6% | 1.54B+14.8% | 1.34B+52.4% | 878M-49.3% | 1.73B+39.6% | |
| Other investing activities | 1.78M-73.2% | 6.65M+60.7% | 4.14M+889.9% | -524K-101.7% | 31.2M+1101.9% | |
| -1.66B-357.6% | 646M+163.5% | -1.02B-650.9% | -135M-139.9% | 339M+172.3% | ||
| Long-term debt issued | 0.00-100.0% | 2.28B | 0.00 | 0.00-100.0% | 1.49B+0.4% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 498M+148.9% | 200M+100.0% | 100M-76.8% | 432M-25.9% | 583M-32.2% | |
| Dividends paid | 479M+12.9% | 424M+14.7% | 370M+20.6% | 307M+21.0% | 254M+22.1% | |
| Other financing activities | -3.81M-130.2% | 12.6M+33897.3% | 37.0K-99.9% | 28.7M+323.9% | -12.8M+50.8% | |
| FX effect on cash | 10.4M+148.4% | -21.6M-889.6% | 2.73M+193.8% | -2.92M+77.7% | -13.1M-46.0% | |
| Net change in cash | -964M-183.8% | 1.15B+1764.5% | 61.7M+125.0% | -246M-365.4% | 92.8M-54.0% | |
| Interest paid | 467M+18.3% | 395M-0.4% | 397M+14.1% | 348M-3.6% | 361M+2.5% | |
| Income taxes paid | 52.8M+24.4% | 42.4M+65.8% | 25.6M-20.9% | 32.3M+26.4% | 25.6M+26.1% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 20.5B-6.7% | 21.9B-19.9% | 27.4B-9.6% | 30.3B-27.9% | 42.0B+36.1% | |
| P/E | 19.4×-33.6% | 29.3×-47.0% | 55.2×-25.7% | 74.3×-57.9% | 176.7×-86.2% | |
| P/S | 7.3×-11.2% | 8.2×-18.6% | 10.1×-15.5% | 11.9×-34.5% | 18.2×+22.8% | |
| P/FCF | 19.2×-3.2% | 19.8×-16.0% | 23.6×-14.0% | 27.4×-31.0% | 39.7×+28.5% | |
| Earnings yield | 5.1%+50.7% | 3.4%+88.7% | 1.8%+34.6% | 1.3%+137.6% | 0.57%+624.3% | |
| FCF yield | 5.2%+3.3% | 5.0%+19.0% | 4.2%+16.2% | 3.6%+45.0% | 2.5%-22.2% | |
| Dividend yield | 2.3%+21.0% | 1.9%+43.4% | 1.3%+33.2% | 1.0%+67.7% | 0.60%-10.3% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: SBAC’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all SBAC filings on SEC EDGAR → Not investment advice.