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SBA Communications Corp Stock Research

SBAC

258.44USD+2.09(+0.82%)Delayed

Market Summary

USD258.44+2.09
Delayed
0.82%

SBAC Alerts

SBAC Stock Price

SBAC RSI Chart

SBAC Valuation

Market Cap

27.9B

Price/Earnings (Trailing)

60.49

Price/Sales (Trailing)

10.6

EV/EBITDA

17.2

Price/Free Cashflow

26.05

SBAC Price/Sales (Trailing)

SBAC Profitability

EBT Margin

19.97%

Return on Assets

4.36%

Free Cashflow Yield

3.84%

SBAC Fundamentals

SBAC Revenue

Revenue (TTM)

2.6B

Revenue Y/Y

15.26%

Revenue Q/Q

1.56%

SBAC Earnings

Earnings (TTM)

461.4M

Earnings Y/Y

111.2%

Earnings Q/Q

3.27%

Price Action

52 Week Range

235.63377.44
(Low)(High)

Last 7 days

2.6%

Last 30 days

-12.1%

Last 90 days

-11.2%

Trailing 12 Months

-19.9%

SBAC Financial Health

Current Ratio

0.69

SBAC Investor Care

Buy Backs (1Y)

0.88%

Diluted EPS (TTM)

4.21

Peers (Alternatives to SBA Communications)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
95.5B
10.7B
-6.88% -12.74%
56.27
8.91
14.47% -33.92%
65.1B
7.3B
-5.94% 0.45%
92.39
8.96
9.46% 40.82%
57.4B
7.0B
-6.38% -22.51%
34.26
8.21
10.19% 52.83%
51.7B
4.2B
-4.61% -14.88%
11.88
12.36
22.43% 122.66%
27.9B
2.6B
-12.07% -19.91%
60.49
10.6
14.06% 94.18%
13.2B
1.7B
-4.07% -13.87%
104.43
7.61
26.61% -85.07%
MID-CAP
7.7B
1.1B
-13.38% -14.77%
20.08
7.2
12.95% 47.42%
4.3B
802.0M
-9.03% -5.22%
-341.02
5.37
114.83% 84.36%
2.9B
1.8B
-31.59% -62.57%
-8.47
1.63
13.26% -296.88%
2.1B
859.2M
-25.44% -29.31%
-31.63
2.43
1.38% -563.21%
SMALL-CAP
1.9B
421.4M
-3.41% 12.84%
22.56
4.55
3.35% 1705.32%
1.7B
826.7M
-30.54% -63.53%
-22.04
2.08
-2.04% -117.36%
1.0B
190.3M
-7.76% -1.93%
11.27
5.46
12.08% 1950.56%
983.2M
740.4M
-22.73% -54.50%
-27.01
1.33
1.87% -78.85%

Financials for SBA Communications

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue3.6%2,6332,5432,4562,3802,309
  S&GA Expenses2.8%262255240231220
Costs and Expenses3.2%1,7081,6541,5991,5541,526
EBITDA9.0%1,6121,4791,4301,554-
EBITDA Margin5.3%0.61*0.58*0.58*0.65*-
Earnings Before Taxes18.1%526445380514253
EBT Margin14.0%0.20*0.18*0.15*0.22*-
Interest Expenses11.8%379339358349360
Net Income13.4%461407355438238
Net Income Margin9.4%0.18*0.16*0.14*0.18*-
Free Cahsflow-3.0%1,0711,1041,0471,050-
Balance Sheet
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets6.4%10,5859,94910,01210,1429,802
  Current Assets-8.9%483530495539614
    Cash Equivalents-5.9%189201183264367
  Net PPE2.1%2,7142,6582,6782,6752,575
  Current Liabilities-47.9%6971,3381,3181,279616
    LT Debt, Current-96.4%24.0066366366224.00
    LT Debt, Non Current9.8%12,84411,69611,81811,96912,279
  Retained Earnings0.3%-7,482-7,508-7,531-7,523-7,203
  Additional Paid-In Capital1.4%2,7952,7562,7182,6892,681
Shares Outstanding0.0%108108108108109
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations-0.8%1,2861,2961,2161,1971,190
  Share Based Compensation0.5%10099.0091.0089.0084.00
Cashflow From Investing-89.2%-1,393-736-724-602-1,423
Cashflow From Financing74.7%-135-535-582-513339
  Dividend Payments4.6%307293280267254
  Buy Backs-40.9%432730845845583

Risks for SBAC

What is the probability of a big loss on SBAC?

54.2%


Probability that SBA Communications stock will be more than 20% underwater in next one year

9.2%


Probability that SBA Communications stock will be more than 30% underwater in next one year.

0%


Probability that SBA Communications stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does SBAC drawdown profile look like?

Y-axis is the maximum loss one would have experienced if SBA Communications was unfortunately bought at previous high price.

Drawdowns

Returns for SBAC

Cumulative Returns on SBAC

14.0%


10-Year Cumulative Returns

15.6%


7-Year Cumulative Returns

9.3%


5-Year Cumulative Returns

-2.4%


3-Year Cumulative Returns

What are the long-term rolling returns for SBAC?

FIve years rolling returns for SBA Communications.

Annualized Returns

Which funds bought or sold SBAC recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-15
B. Riley Wealth Advisors, Inc.
reduced
-43.72
-432,623
537,377
0.01%
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
added
1.23
-606,011
191,216,000
0.21%
2023-03-06
NORTH STAR ASSET MANAGEMENT INC
unchanged
-
-3,358
218,642
0.01%
2023-03-06
Rockefeller Capital Management L.P.
reduced
-14.63
-176,000
924,000
-%
2023-03-02
LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA
new
-
10,652
10,652
-%
2023-03-02
OLIVER LAGORE VANVALIN INVESTMENT GROUP
new
-
9,250
9,250
-%
2023-02-28
Voya Investment Management LLC
added
5.42
5,767,430
156,960,000
0.22%
2023-02-24
NATIXIS
added
262
23,898,700
33,216,700
0.19%
2023-02-24
SRS Capital Advisors, Inc.
added
1.35
-334
210,666
0.03%
2023-02-24
National Pension Service
added
6.64
3,112,720
55,852,600
0.11%

1–10 of 50

Latest Funds Activity

Are funds buying SBAC calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own SBAC
No. of Funds

SBA Communications News

MarketBeat

Teachers Retirement System of The State of Kentucky Invests $2.83 ....

MarketBeat,
6 hours ago

Seeking Alpha

It's Hard To Beat A Cell Tower REIT.

Seeking Alpha,
11 days ago

Seeking Alpha

Losers Of REIT Earnings Season.

Seeking Alpha,
18 days ago

Yahoo Finance

Schedule 13G FIlings of SBA Communications

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 09, 2023
vanguard group inc
16.21%
17,498,803
SC 13G/A
Jan 25, 2023
blackrock inc.
8.9%
9,568,779
SC 13G
Feb 01, 2022
blackrock inc.
9.1%
9,895,814
SC 13G/A
Feb 10, 2021
vanguard group inc
15.67%
17,407,642
SC 13G/A
Feb 01, 2021
blackrock inc.
9.1%
10,073,364
SC 13G/A
Mar 09, 2020
blackrock inc.
10.4%
11,596,081
SC 13G/A
Mar 09, 2020
blackrock inc.
10.4%
11,596,081
SC 13G/A
Feb 11, 2020
vanguard group inc
16.48%
18,557,149
SC 13G/A
Feb 06, 2020
blackrock inc.
9.9%
11,148,165
SC 13G/A
Feb 06, 2020
blackrock inc.
9.9%
11,148,165
SC 13G/A

SBAC Fair Value

SBA Communications fair value in different scenarios

The table shows the Fair Value estimates for SBA Communications for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

45.19

-82.51%

55.56

-78.50%

74.16

-71.30%

94.30

-63.51%

110.45

-57.26%
Current Inflation

41.19

-84.06%

49.93

-80.68%

65.41

-74.69%

82.12

-68.22%

95.47

-63.06%
Very High Inflation

36.29

-85.96%

43.17

-83.30%

55.15

-78.66%

68.06

-73.67%

78.33

-69.69%

Historical SBA Communications Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of SBA Communications

View All Filings
Date Filed Form Type Document
Mar 07, 2023
4
Insider Trading
Mar 07, 2023
4
Insider Trading
Mar 07, 2023
4
Insider Trading
Mar 07, 2023
4
Insider Trading
Mar 07, 2023
4
Insider Trading
Mar 07, 2023
4
Insider Trading
Mar 07, 2023
4
Insider Trading
Mar 07, 2023
4
Insider Trading
Mar 01, 2023
10-K
Annual Report
Mar 01, 2023
4
Insider Trading

Latest Insider Trading transactions for SBAC

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-03-06
KOENIG JOSHUA
acquired
-
-
212
executive vp/general counsel
2023-03-06
Ciarfella Mark R
acquired
-
-
693
evp - operations
2023-03-06
Cavanagh Brendan Thomas
acquired
-
-
1,296
executive vice president & cfo
2023-03-06
Lazarus Brian D
acquired
-
-
547
svp & chief accounting officer
2023-03-06
STOOPS JEFFREY
sold (taxes)
-946,437
260
-3,635
chief executive officer & pres
2023-03-06
Patel Dipan D
sold (taxes)
-146,192
260
-561
evp tech., strat. & new bus.
2023-03-06
Ciarfella Mark R
sold (taxes)
-190,732
260
-732
evp - operations
2023-03-06
Patel Dipan D
acquired
-
-
472
evp tech., strat. & new bus.
2023-03-06
KOENIG JOSHUA
sold (taxes)
-63,789
260
-245
executive vp/general counsel
2023-03-06
Lazarus Brian D
sold (taxes)
-161,355
260
-619
svp & chief accounting officer

1–10 of 50

Jeffrey A. Stoops
1600
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By “Building Better Wireless,” SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts. For more information please visit: www.sbasite.com.

SBAC Income Statement

2022-12-31
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:   
Site leasing$ 2,336,575$ 2,104,087$ 1,954,472
Site development296,879204,747128,666
Total revenues2,633,4542,308,8342,083,138
Cost of revenues (exclusive of depreciation, accretion, and amortization shown below):   
Cost of site leasing445,685386,391373,778
Cost of site development222,965159,093102,750
Selling, general, and administrative expenses261,853220,029194,267
Acquisition and new business initiatives related adjustments and expenses26,80727,62116,582
Asset impairment and decommission costs43,16033,04440,097
Depreciation, accretion, and amortization707,576700,161721,970
Total operating expenses1,708,0461,526,3391,449,444
Operating income925,408782,495633,694
Other income (expense):   
Interest income10,1333,4482,981
Interest expense(353,784)(352,919)(367,874)
Non-cash interest expense(46,109)(47,085)(24,870)
Amortization of deferred financing fees(19,835)(19,589)(20,058)
Loss from extinguishment of debt, net(437)(39,502)(19,463)
Other income (expense), net10,467(74,284)(222,159)
Total other expense, net(399,565)(529,931)(651,443)
Income (loss) before income taxes525,843252,564(17,749)
(Provision) benefit for income taxes(66,044)(14,940)41,796
Net income459,799237,62424,047
Net loss attributable to noncontrolling interests1,630 57
Net income attributable to SBA Communications Corporation$ 461,429$ 237,624$ 24,104
Net income per common share attributable to SBA Communications Corporation:   
Basic$ 4.27$ 2.17$ 0.22
Diluted$ 4.22$ 2.14$ 0.21
Weighted average number of common shares   
Basic107,957109,328111,532
Diluted109,386111,177113,465

SBAC Balance Sheet

2022-12-31
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:  
Cash and cash equivalents$ 143,708$ 367,278
Restricted cash41,95965,561
Accounts receivable, net184,368101,950
Costs and estimated earnings in excess of billings on uncompleted contracts79,54948,844
Prepaid expenses and other current assets33,14930,813
Total current assets482,733614,446
Property and equipment, net2,713,7272,575,487
Intangible assets, net2,776,4722,803,247
Operating lease right-of-use assets, net2,381,9552,268,470
Acquired and other right-of-use assets, net1,507,781964,405
Other assets722,373575,644
Total assets10,585,0419,801,699
Current Liabilities:  
Accounts payable51,42734,066
Accrued expenses101,48468,070
Current maturities of long-term debt24,00024,000
Deferred revenue154,553184,380
Accrued interest54,17349,096
Current lease liabilities262,365238,497
Other current liabilities48,76218,222
Total current liabilities696,764616,331
Long-term liabilities:  
Long-term debt, net12,844,16212,278,694
Long-term lease liabilities2,040,6281,981,353
Other long-term liabilities248,067191,475
Total long-term liabilities15,132,85714,451,522
Redeemable noncontrolling interests31,73517,250
Shareholders' deficit:  
Preferred stock - par value $0.01, 30,000 shares authorized, no shares issued or outstanding
Common stock - Class A, par value $0.01, 400,000 shares authorized, 107,997 shares and 108,956 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively1,0801,089
Additional paid-in capital2,795,1762,681,347
Accumulated deficit(7,482,061)(7,203,531)
Accumulated other comprehensive loss, net(590,510)(762,309)
Total shareholders' deficit(5,276,315)(5,283,404)
Total liabilities, redeemable noncontrolling interests, and shareholders' deficit$ 10,585,041$ 9,801,699