SBA COMMUNICATIONS CORP
SBACNasdaqReal Estate · Real Estate Investment Trusts · FL · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $244.5M | $152.9M | $194.6M | $296.9M | $204.7M | $128.7M |
| Operating income | $334.9M | $323.4M | $923.7M | $925.4M | $782.5M | $633.7M |
| Net income | $220.7M | $154.5M | $501.8M | $461.4M | $237.6M | $24.1M |
| Total assets | $11.58B | $11.42B | $10.18B | $10.59B | $9.80B | $9.16B |
| Total liabilities | — | — | — | — | — | — |
| Equity | −$4.85B | −$5.11B | −$5.17B | −$5.28B | −$5.28B | −$4.82B |
| EPS (diluted) | $2.04 | $1.42 | $4.61 | $4.22 | $2.14 | $0.21 |
| Shares out. | 107.6M | 108.1M | 108.0M | 107.9M | 109.3M | 111.9M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- 137.0%
- Net margin
- 90.3%
- Return on equity
- −4.5%
- Return on assets
- 1.9%
- Return on capital (ROCE)
- 3.8%
- Liabilities / assets
- —
- Debt / equity
- —
- Book value / share
- $-45.10
- Revenue growth (YoY)
- 59.9%
- Net income growth (YoY)
- 42.8%
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Accruals / assets
- −9.2%clean
- Piotroski F-Score
- 6/8mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →
Signs
● 1 severe● 4 good- Negative shareholder equity
- Operating margin is positive
- Revenue is growing year-over-year
- Positive operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Vanguard Capital Management LlcPassive (13G)Apr 30, 2026
- Vanguard Portfolio Management LlcPassive (13G)Apr 29, 2026
- Vanguard Group IncPassive (13G)Mar 27, 2026
- Dodge & CoxPassive (13G)Nov 6, 2025
- Jpmorgan Chase & CoPassive (13G)Oct 31, 2025
- Blackrock, Inc.Passive (13G)Feb 5, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 2.4M | 3.0 | -13.8% |
| Apr 30, 2026 | 2.8M | 2.7 | -19.1% |
| Apr 15, 2026 | 3.4M | 1.5 | +23.8% |
| Mar 31, 2026 | 2.8M | 3.1 | +8.9% |
| Mar 13, 2026 | 2.6M | 2.5 | +0.8% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Shareholder voteMay 22, 2026
- Results of operationsApr 29, 2026
- Director / officer changeMar 27, 2026
- Results of operationsFeb 26, 2026
- Results of operationsNov 3, 2025
- Results of operationsAug 4, 2025
- Shareholder voteMay 23, 2025
- Results of operationsApr 28, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗Event-driven situations (1)
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