SBA Communications (SBAC) Stock Analysis
This is a peer-relative look at SBA Communications (SBAC): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Equity Real Estate Investment Trusts (REITs) peers, so every number reads in context rather than in isolation.
Company Profile
SBA Communications (SBAC) is a REIT, a distribution-oriented structure — read its payout ratio and P/E alongside FFO (funds from operations) rather than at face value.
| Profile Item | SBAC |
|---|---|
| Name | SBA Communications Corporation |
| Country/Region | United States |
| GICS Sector | Real Estate |
| GICS Industry Group | Equity Real Estate Investment Trusts (REITs) |
| GICS Industry | Specialized REITs |
| GICS Sub-Industry | Telecom Tower REITs |
| Market Capitalization | 19.78 billion USD |
| Currency | USD |
| Exchange | Nasdaq |
| Listing Date | June 16, 1999 |
| Security Type | REIT |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | Current stock: SBAC | Industry group median |
|---|---|---|
| Total Return (1Y) | -0.77% | 12.32% |
| Total Return (3Y, Annualized) | -2.37% | 12.70% |
| Total Return (5Y, Annualized) | -9.88% | 0.76% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | Current stock: SBAC | Industry group median |
|---|---|---|
| Volatility (1Y, Annualized) | 36.62% | 23.60% |
| Beta (5Y) | 0.96 | 0.93 |
| Max Drawdown (5Y) | -55.90% | -42.02% |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | Current stock: SBAC | Industry group median |
|---|---|---|
| Sharpe Ratio (1Y) | -0.14 | 0.37 |
| Sortino Ratio (1Y) | -0.24 | 0.55 |
Profitability
ROE (TTM)
No usable ROE is available for SBA Communications (SBAC) this period, so the shareholder-equity return read is skipped.
SBAC
Equity Real Estate Investment Trusts (REITs) industry group
--
Group distribution
- Max
- 22.74%
- Q3
- 10.54%
- Median
- 6.38%
- Q1
- 1.69%
- Min
- -10.86%
- SBAC
- --
Largest peers
- SPG
- 129.35%
- AMT
- 32.96%
- EQIX
- 11.45%
- PLD
- 7.71%
- WELL
- 3.92%
- DLR
- 3.34%
- SBAC
- --
Net Margin (TTM)
net margin is set aside for SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs): heavy depreciation can make net income a poor proxy for cash profitability, so FFO-based measures usually carry the read.
Operating Margin (TTM)
operating margin is set aside for SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs): the operating-income line is not a clean boundary for this business model, so net margin, ROE, FFO, or industry-specific measures may be more useful.
Profitability Metrics
| Metric | Current stock: SBAC | Industry group median |
|---|---|---|
| ROE (TTM) | -- | 6.38% |
| ROA (TTM) | 8.17% | 2.44% |
| Net Margin (TTM) | -- | -- |
| Operating Margin (TTM) | -- | -- |
| Gross Margin (TTM) | -- | -- |
Growth
Revenue Growth
SBA Communications (SBAC) grew revenue 5.06%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.
EPS Growth
EPS growth is not assessed for SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs): under this industry convention, per-share earnings need a different yardstick.
Growth Metrics
| Metric | Current stock: SBAC | Industry group median |
|---|---|---|
| Revenue Growth (YoY) | 5.06% | 5.25% |
| Revenue Growth (3Y CAGR) | 2.25% | 5.09% |
| EPS Growth (YoY) | -- | -- |
| EPS Growth (3Y CAGR) | -- | -- |
Financial Strength
Current Ratio (MRQ)
SBA Communications (SBAC) has current ratio of 0.19, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.
SBAC
Equity Real Estate Investment Trusts (REITs) industry group
0.19
Group distribution
- Max
- 4.19
- Q3
- 2.11
- Median
- 1.31
- Q1
- 0.62
- SBAC
- 0.19
- Min
- 0.06
Largest peers
- WELL
- 1.66
- EQIX
- 1.04
- PLD
- 0.73
- DLR
- 0.58
- SPG
- 0.39
- AMT
- 0.35
- SBAC
- 0.19
Debt / Equity (MRQ)
No usable debt-to-equity ratio is available for SBA Communications (SBAC) this period, so the balance-sheet leverage read is skipped.
SBAC
Equity Real Estate Investment Trusts (REITs) industry group
--
Group distribution
- Max
- 2.72
- Q3
- 1.59
- Median
- 0.99
- Q1
- 0.72
- Min
- 0.20
- SBAC
- --
Largest peers
- SPG
- 5.67
- AMT
- 4.64
- EQIX
- 1.81
- DLR
- 0.69
- PLD
- 0.62
- WELL
- 0.42
- SBAC
- --
Financial Strength Metrics
| Metric | Current stock: SBAC | Industry group median |
|---|---|---|
| Current Ratio (MRQ) | 0.19 | 1.31 |
| Debt / Equity (MRQ) | -- | 0.99 |
| Net Debt / EBITDA | 8.14 | 5.82 |
Dividends
Dividend Yield (TTM)
SBA Communications (SBAC) has dividend yield of 2.52%, in the lower peer-yield quartile. Dividend income is lighter than at most industry peers, which may reflect a greater tilt toward reinvestment, buybacks, or growth.
SBAC
Equity Real Estate Investment Trusts (REITs) industry group
2.52%
Group distribution
- Max
- 8.62%
- Q3
- 5.95%
- Median
- 4.34%
- Q1
- 3.26%
- SBAC
- 2.52%
- Min
- 0.00%
Largest peers
- AMT
- 3.64%
- PLD
- 3.28%
- DLR
- 2.79%
- SBAC
- 2.52%
- EQIX
- 2.02%
- WELL
- 1.30%
- SPG
- 0.97%
Dividend Payout Ratio (TTM)
payout ratio is not assessed for SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs): distributions in this industry are better read against FFO or cash-flow measures than accounting earnings.
Dividend Metrics
| Metric | Current stock: SBAC | Industry group median |
|---|---|---|
| Dividend Yield (TTM) | 2.52% | 4.34% |
| Dividend Payout Ratio (TTM) | -- | -- |
Valuation
P/E Ratio (TTM)
P/E ratio is not assessed for SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs): depreciation can depress accounting earnings in this industry, so price-to-FFO is the more relevant valuation yardstick.
P/S Ratio (TTM)
SBA Communications (SBAC) trades at 6.94 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.
SBAC
Equity Real Estate Investment Trusts (REITs) industry group
6.94
Group distribution
- Max
- 14.47
- Q3
- 8.02
- SBAC
- 6.94
- Median
- 5.98
- Q1
- 3.27
- Min
- 0.43
Largest peers
- WELL
- 13.03
- PLD
- 12.48
- SPG
- 12.09
- EQIX
- 9.88
- DLR
- 9.47
- AMT
- 7.95
- SBAC
- 6.94
P/B Ratio (MRQ)
SBA Communications (SBAC) has negative P/B ratio of -4.09, which means reported book equity is negative. Price-to-book breaks down in this situation and should not be used as a valuation signal.
SBAC
Equity Real Estate Investment Trusts (REITs) industry group
-4.09
Group distribution
- Max
- 4.06
- Q3
- 2.53
- Median
- 1.64
- Q1
- 1.06
- Min
- 0.21
- SBAC
- -4.09
Largest peers
- AMT
- 24.92
- SPG
- 19.38
- EQIX
- 6.90
- WELL
- 3.69
- DLR
- 2.39
- PLD
- 2.16
- SBAC
- -4.09
Valuation Metrics
| Metric | Current stock: SBAC | Industry group median |
|---|---|---|
| P/E Ratio (TTM) | -- | -- |
| P/S Ratio (TTM) | 6.94 | 5.98 |
| P/B Ratio (MRQ) | -4.09 | 1.64 |
| Free Cash Flow Yield (TTM) | -- | -- |