# SBA Communications Corporation (SBAC) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Real Estate / Equity Real Estate Investment Trusts (REITs). Price $189.44, market value $20.1 billion.

## Valuation
- **P/E (trailing): 20.5×** (5-yr avg 66.2×, 3-yr avg 33.4×). SBA Communications Corporation trades at 20.5× trailing earnings, well below its own five-year average of 66.2×: cheap by its own standards. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 23.1×, higher than trailing, so analysts expect earnings to fall.
- **PEG: 0.56**. A PEG of 0.56 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 22.5×**. Each dollar of revenue is priced at 22.5×, a level that requires very high margins or very fast growth to justify.
- **EV / EBITDA: 19.4×**. Enterprise value is 19.4× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 5.2%** (5-yr avg 4.3%). Free cash flow equals 5.2% of the market value, above its five-year average of 4.3%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 4.9%**. The inverse of the P/E: 4.9% of the price is earned each year.

## Profitability
- **Operating margin: 153.4%**. 153.4% of revenue is left after running the business, an exceptional level.
- **Net margin: 430.9%**. 430.9% of each dollar of sales reaches the bottom line.
- **Return on equity: -21.7%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 13.9%**. Return on all capital, debt included, is 13.9%.
- **Return on assets: 8.6%**. Each dollar of assets produces 8.6% of profit.

## Growth
- **Revenue growth (1 yr): 59.9%** (3-yr -6.3%/yr, 5-yr 13.7%/yr). Revenue grew 59.9% over the last year, against 13.7% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 41.2%** (3-yr 32.4%/yr, 5-yr 115.7%/yr). Earnings per share rose 41.2%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -0.1%/yr**. Free cash flow has compounded at -0.1% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Net debt / EBITDA: 7.5×**. It would take 7.5 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 2.64%** ($4.72 per share, trailing). SBA Communications Corporation yields 2.64%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 45%** (48% of free cash flow). 45% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 7**. 7 straight years of increases.
- **Dividend growth (5 yr): 19.0%/yr** (1-yr 13.3%). The dividend has compounded at 19.0% a year over five years, doubling roughly every 4 years at that pace.

## Analyst view
- **Analyst consensus: buy** (20 analysts). 20 analysts cover SBA Communications Corporation; the consensus is buy, with an average price target of $226.40 (+20% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -1.1%** (YTD -0.8%, 3-mo -8.9%). The shares are down 1.1% over twelve months including dividends.
- **From 52-week high: -15.6%** (16.6% above the low). Trading 16% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 56**. An RSI of 56 is neutral.
- **Beta (1 yr): 0.07** (volatility 34%). Beta of 0.07 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=SBAC · Page: https://foliofundamentals.com/stocks/sbac

Not investment advice.