SBA Communications/$SBAC

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About SBA Communications

SBA Communications owns a portfolio of about 45,000 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 being generated by the top few mobile carriers. It owns more than 17,000 towers in the US, which account for about 75% of leasing revenue. Internationally, SBA's largest presence is in Brazil, where it owns roughly 10,000 towers. SBA operates as a real estate investment trust.

Ticker

$SBAC
Primary listing

Employees

1,720

SBAC Metrics

BasicAdvanced
$20B
23.02
$8.15
0.79
$4.31
2.37%

What the Analysts think about SBAC

Analyst ratings (Buy, Hold, Sell) for SBA Communications stock.

Bulls say / Bears say

After strong Q1 performance, SBA raised its full-year 2025 outlook, increasing site leasing revenue guidance to $2,536–$2,561 million (midpoint +$6 million) and AFFO per share to $12.53–$12.90. (SBA Communications Press Release)
The balance sheet remains robust with a net debt/Adjusted EBITDA ratio of 6.4×, no 2025 maturities, and over $600 million in cash, providing ample liquidity for growth. (SBA Communications Press Release)
SBA agreed to sell its Canadian tower business to CVC DIF for C$446 million, unlocking capital to redeploy into higher-growth U.S. and South American markets. (IPE Real Assets)
Leverage rose in Q2 2025 to 6.5× net debt/EBITDA from 6.4× in Q1, intensifying financial risk amid SBA’s heavy debt load of $12.3 billion. (Market Chameleon)
International site leasing revenue fell 6.9% YoY in Q1 2025 to $155.2 million, highlighting softness in key Latin American markets and FX headwinds. (SBA Communications Press Release)
Adjusted EBITDA margin contracted 220 bps YoY in Q1 2025 to 69.0%, reflecting rising interest expenses and operational cost pressures. (SBA Communications Press Release)
Data summarised monthly by Lightyear AI. Last updated on 4 Oct 2025.

SBAC Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

SBAC Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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