SBA Communications financials
$162.81−0.38%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.82B | $2.68B | $2.71B | $2.63B | $2.31B | $2.08B | $2.01B | $1.87B | $1.73B | $1.63B |
| Gross profit | $2.12B | $2.10B | $2.10B | $1.96B | $1.76B | $1.61B | $1.52B | $1.40B | $1.28B | $1.21B |
| Gross margin | 75.5% | 78.3% | 77.4% | 74.6% | 76.4% | 77.1% | 75.5% | 74.9% | 74.2% | 74.2% |
| Operating income | $1.34B | $1.44B | $923.7M | $925.4M | $782.5M | $633.7M | $583.5M | $544.2M | $458.5M | $387.3M |
| Net income | $1.05B | $749.5M | $501.8M | $461.4M | $237.6M | $24.1M | $147.0M | $47.5M | $103.7M | $76.2M |
| Net margin | 37.4% | 28.0% | 18.5% | 17.5% | 10.3% | 1.2% | 7.3% | 2.5% | 6.0% | 4.7% |
| Diluted EPS | $9.80 | $6.94 | $4.61 | $4.22 | $2.14 | $0.21 | $1.28 | $0.41 | $0.86 | $0.61 |
| EBITDA | $1.85B | $1.84B | $1.83B | $1.70B | $1.54B | $1.41B | $1.33B | $1.25B | $1.15B | $1.07B |
| Operating cash flow | $1.29B | $1.33B | $1.54B | $1.29B | $1.19B | $1.13B | $970.0M | $850.6M | $818.5M | $742.5M |
| Free cash flow | $1.07B | $1.11B | $1.31B | $1.07B | $1.06B | $997.5M | $815.8M | $700.8M | $671.4M | $602.5M |
| Diluted shares | 107.5M | 108.1M | 108.9M | 109.4M | 111.2M | 113.5M | 114.7M | 116.5M | 121.0M | 125.1M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $264.6M | $189.8M | $208.5M | $143.7M | $367.3M | $308.6M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| Total debt | $12.97B | $13.65B | $12.38B | $12.92B | $12.35B | $11.39B |
| Total assets | $11.58B | $11.42B | $10.18B | $10.59B | $9.80B | $9.16B |
| Total liabilities | $16.35B | $16.47B | $15.31B | $15.83B | $15.07B | $13.97B |
| Shareholders' equity | -$4.85B | -$5.11B | -$5.17B | -$5.28B | -$5.28B | -$4.82B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology