SBA Communications Corp
SBACNasdaqCIK 1034054Real Estate / REITsfiscal year ends December69 quarters since 2009
Latest quarter Q2 FY2026, filed August 6, 2026. Trailing figures sum the latest four quarters. Market values at the latest close, from a market data vendor.
The last 16 quarters
Q3 FY2022 to Q2 FY2026, through the filing of August 6, 2026.
Net income losses drawn in red.
Operating cash flow less capital expenditures; negative quarters in red.
Positions at each quarter end, as filed; short-term investments are not included.
Income statement
Last eight quarters, newest first, through Q2 FY2026 filed August 6, 2026.
| Millions of dollars | Q2 FY2026ended Jun 30, 2026filed Aug 6, 2026 | Q1 FY2026ended Mar 31, 2026filed May 5, 2026 | Q4 FY2025ended Dec 31, 2025filed Feb 27, 2026 | Q3 FY2025ended Sep 30, 2025filed Nov 6, 2025 | Q2 FY2025ended Jun 30, 2025filed Aug 7, 2025 | Q1 FY2025ended Mar 31, 2025filed May 1, 2025 | Q4 FY2024ended Dec 31, 2024filed Feb 26, 2025 | Q3 FY2024ended Sep 30, 2024filed Nov 1, 2024 | YoYQ2 FY2026vs Q2 FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 715 | 703 | 720 | 732 | 699 | 664 | 694 | 668 | +2.3% |
| Cost of revenue | 176 | 171 | 175 | 190 | 172 | 154 | 152 | 150 | +2.3% |
| Gross profit | 539 | 532 | 544 | 543 | 527 | 511 | 542 | 517 | +2.4% |
| Research and development | — | — | — | — | — | — | — | — | — |
| Selling, general and administrative | 78 | 71 | 74 | 66 | 71 | 66 | 68 | 60 | +9.2% |
| Operating income | 352 | 343 | 299 | 374 | 335 | 335 | 382 | 376 | +5.1% |
| Other income (expense) | (119) | (107) | 133 | (85) | (74) | (75) | (226) | (77) | −61.3% |
| Pretax income | 232 | 236 | 432 | 289 | 261 | 260 | 156 | 298 | −10.8% |
| Income tax | 36 | 51 | 62 | 49 | 35 | 42 | (23) | 42 | +2.7% |
| Net income | 199 | 185 | 370 | 237 | 226 | 221 | 174 | 259 | −12.0% |
| Diluted EPS ($) | 1.87 | 1.74 | 3.47 | 2.20 | 2.09 | 2.04 | 1.61 | 2.40 | −10.5% |
| Diluted shares (millions) | 106 | 106 | — | 108 | 108 | 108 | — | 108 | — |
Fourth quarters are the fiscal year less the first nine months when the filer reports no discrete fourth quarter, and are marked. Diluted EPS is never derived, so a derived quarter shows none. Italic figures are derived.
Balance sheet
Last eight quarters, newest first, through Q2 FY2026 filed August 6, 2026.
| Millions of dollars | Q2 FY2026ended Jun 30, 2026filed Aug 6, 2026 | Q1 FY2026ended Mar 31, 2026filed May 5, 2026 | Q4 FY2025ended Dec 31, 2025filed Feb 27, 2026 | Q3 FY2025ended Sep 30, 2025filed Nov 6, 2025 | Q2 FY2025ended Jun 30, 2025filed Aug 7, 2025 | Q1 FY2025ended Mar 31, 2025filed May 1, 2025 | Q4 FY2024ended Dec 31, 2024filed Feb 26, 2025 | Q3 FY2024ended Sep 30, 2024filed Nov 1, 2024 | YoYQ2 FY2026vs Q2 FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 327 | 269 | 265 | 430 | 275 | 636 | 190 | 186 | +18.8% |
| Short-term investments | 29 | 112 | 7 | 1 | 2 | 66 | 255 | 16 | +1762.4% |
| Total current assets | 745 | 767 | 773 | 813 | 524 | 933 | 1,979 | 450 | +42.2% |
| Total assets | 11,742 | 11,721 | 11,575 | 11,260 | 10,766 | 10,443 | 11,417 | 10,202 | +9.1% |
| Total current liabilities | 4,337 | 3,346 | 2,678 | 1,611 | 1,430 | 1,343 | 1,798 | 668 | +203.3% |
| Long-term debt | 9,151 | 10,276 | 10,964 | 11,933 | 11,739 | 11,654 | 12,404 | 12,296 | −22.1% |
| Total liabilities | — | — | — | — | — | — | — | — | — |
| Stockholders’ equity | (4,630) | (4,752) | (4,854) | (4,934) | (4,939) | (4,971) | (5,110) | (5,175) | +6.3% |
| Shares outstanding (millions) | 106 | 106 | 106 | 107 | 107 | 107 | 108 | 108 | — |
Positions at each period end. Nothing on this statement is derived. Long-term debt is the filed noncurrent line only; no total-debt composite is constructed across filers. Italic figures are derived.
Cash flow statement
Last eight quarters, newest first, through Q2 FY2026 filed August 6, 2026.
| Millions of dollars | Q2 FY2026ended Jun 30, 2026filed Aug 6, 2026 | Q1 FY2026ended Mar 31, 2026filed May 5, 2026 | Q4 FY2025ended Dec 31, 2025filed Feb 27, 2026 | Q3 FY2025ended Sep 30, 2025filed Nov 6, 2025 | Q2 FY2025ended Jun 30, 2025filed Aug 7, 2025 | Q1 FY2025ended Mar 31, 2025filed May 1, 2025 | Q4 FY2024ended Dec 31, 2024filed Feb 26, 2025 | Q3 FY2024ended Sep 30, 2024filed Nov 1, 2024 | YoYQ2 FY2026vs Q2 FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 407 | 255 | 304 | 318 | 368 | 301 | 310 | 305 | +10.6% |
| Capital expenditures | 62 | 48 | withheld | withheld | withheld | withheld | withheld | withheld | — |
| Free cash flow (CFO − capex) | 345 | 207 | — | — | — | — | — | — | — |
| Depreciation and amortization | 81 | 81 | 80 | 77 | 70 | 65 | 65 | 64 | +16.3% |
| Share repurchases | — | — | 216 | 151 | — | — | 0 | 0 | — |
| Dividends paid | 133 | 135 | 118 | 119 | 119 | 122 | 105 | 105 | +11.1% |
10-Qs file cash flows as year-to-date totals, so quarterly figures are differenced from consecutive filings and marked. Free cash flow is operating cash flow less capital expenditures, computed from the two filed lines. Italic figures are derived.
Annual statements
Every fiscal year filed, newest first, through FY2025 filed February 27, 2026.
Income statement
| Millions of dollars | FY2025ended Dec 31, 2025filed Feb 27, 2026 | FY2024ended Dec 31, 2024filed Feb 26, 2025 | FY2023ended Dec 31, 2023filed Feb 28, 2024 | FY2022ended Dec 31, 2022filed Mar 1, 2023 | FY2021ended Dec 31, 2021filed Mar 1, 2022 | FY2020ended Dec 31, 2020filed Feb 25, 2021 | FY2019ended Dec 31, 2019filed Feb 24, 2020 | FY2018ended Dec 31, 2018filed Feb 28, 2019 | FY2017ended Dec 31, 2017filed Mar 1, 2018 | FY2016ended Dec 31, 2016filed Mar 1, 2017 | FY2015ended Dec 31, 2015filed Feb 26, 2016 | FY2014ended Dec 31, 2014filed Mar 2, 2015 | FY2013ended Dec 31, 2013filed Feb 27, 2014 | FY2012ended Dec 31, 2012filed Feb 27, 2013 | FY2011ended Dec 31, 2011filed Feb 27, 2012 | FY2010ended Dec 31, 2010filed Feb 25, 2011 | FY2009ended Dec 31, 2009filed Aug 4, 2010 | FY2008ended Dec 31, 2008filed Aug 4, 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,815 | 2,680 | 2,712 | 2,633 | 2,309 | 2,083 | 2,015 | 1,866 | 1,728 | 1,633 | 1,638 | 1,527 | 1,305 | 954 | 698 | 627 | 556 | 475 |
| Cost of revenue | 691 | 582 | 613 | 669 | 545 | 477 | 493 | 469 | 446 | 421 | 444 | 428 | 408 | 280 | 203 | 0 | 0 | — |
| Gross profit | 2,124 | 2,098 | 2,099 | 1,965 | 1,763 | 1,607 | 1,522 | 1,397 | 1,281 | 1,212 | 1,194 | 1,099 | 897 | 675 | — | — | — | — |
| Research and development | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Selling, general and administrative | 278 | 259 | 268 | 262 | 220 | 194 | 193 | 143 | 131 | 143 | 115 | 103 | 85 | 72 | 63 | 58 | 53 | 49 |
| Operating income | 1,343 | 1,436 | 924 | 925 | 782 | 634 | 583 | 544 | 459 | 387 | 312 | 337 | 230 | 147 | 111 | 74 | 55 | 46 |
| Other income (expense) | (101) | (663) | (375) | (400) | (530) | (651) | (397) | (492) | (342) | (300) | (479) | (352) | (287) | (324) | (235) | (268) | (196) | (112) |
| Pretax income | 1,242 | 773 | 549 | 526 | 253 | (18) | 187 | 52 | 117 | 87 | (167) | (16) | (57) | (177) | (125) | (193) | (141) | (66) |
| Income tax | 188 | 24 | 51 | 66 | 15 | (42) | 40 | 4 | 13 | 11 | 9 | 9 | (1) | 7 | 2 | 1 | 0 | 1 |
| Net income | 1,054 | 750 | 502 | 461 | 238 | 24 | 147 | 47 | 104 | 76 | (176) | (24) | (56) | (181) | (126) | (195) | (141) | (67) |
| Diluted EPS ($) | 9.80 | 6.94 | 4.61 | 4.22 | 2.14 | 0.21 | 1.28 | 0.41 | 0.86 | 0.61 | (1.37) | (0.19) | — | — | — | — | — | — |
| Diluted shares (millions) | 108 | 108 | 109 | 109 | 111 | 113 | 115 | 117 | 121 | 125 | 128 | 129 | — | — | — | — | — | — |
Balance sheet
| Millions of dollars | FY2025ended Dec 31, 2025filed Feb 27, 2026 | FY2024ended Dec 31, 2024filed Feb 26, 2025 | FY2023ended Dec 31, 2023filed Feb 28, 2024 | FY2022ended Dec 31, 2022filed Mar 1, 2023 | FY2021ended Dec 31, 2021filed Mar 1, 2022 | FY2020ended Dec 31, 2020filed Feb 25, 2021 | FY2019ended Dec 31, 2019filed Feb 24, 2020 | FY2018ended Dec 31, 2018filed Feb 28, 2019 | FY2017ended Dec 31, 2017filed Mar 1, 2018 | FY2016ended Dec 31, 2016filed Mar 1, 2017 | FY2015ended Dec 31, 2015filed Feb 26, 2016 | FY2014ended Dec 31, 2014filed Mar 2, 2015 | FY2013ended Dec 31, 2013filed Feb 27, 2014 | FY2012ended Dec 31, 2012filed Feb 27, 2013 | FY2011ended Dec 31, 2011filed Feb 27, 2012 | FY2010ended Dec 31, 2010filed Feb 25, 2011 | FY2009ended Dec 31, 2009filed Aug 4, 2010 | FY2008ended Dec 31, 2008filed Aug 4, 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 265 | 190 | 209 | 144 | 367 | 309 | 108 | 143 | 69 | 146 | 118 | 39 | 122 | 233 | 47 | 64 | 161 | 79 |
| Short-term investments | 7 | 255 | 1 | 1 | 1 | 1 | 1 | 0 | — | 0 | 1 | 6 | 5 | 5 | 6 | 4 | 5 | — |
| Total current assets | 773 | 1,979 | 484 | 483 | 614 | 473 | 334 | 374 | 260 | 325 | 294 | 327 | 344 | 389 | 129 | 147 | 237 | — |
| Total assets | 11,575 | 11,417 | 10,178 | 10,585 | 9,802 | 9,158 | 9,760 | 7,214 | 7,320 | 7,361 | 7,313 | 7,841 | 6,783 | 6,616 | 3,606 | 3,400 | 3,314 | — |
| Total current liabilities | 2,678 | 1,798 | 1,363 | 697 | 616 | 615 | 1,048 | 1,206 | 279 | 873 | 273 | 331 | 748 | 864 | 127 | 131 | 159 | — |
| Long-term debt | 10,964 | 12,404 | 11,681 | 12,844 | 12,279 | 11,072 | 9,812 | 8,997 | 9,291 | 8,148 | 8,432 | 7,828 | 5,395 | 4,881 | 3,349 | 2,827 | 2,460 | — |
| Total liabilities | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Stockholders’ equity | (4,854) | (5,110) | (5,171) | (5,276) | (5,283) | (4,824) | (3,667) | (3,377) | (2,599) | (1,996) | (1,706) | (661) | 357 | 653 | (11) | 317 | 600 | 651 |
| Shares outstanding (millions) | 106 | 108 | 108 | 108 | 108 | 109 | 112 | 113 | 117 | 121 | 125 | 129 | 129 | 127 | 110 | 115 | — | — |
Cash flow statement
| Millions of dollars | FY2025ended Dec 31, 2025filed Feb 27, 2026 | FY2024ended Dec 31, 2024filed Feb 26, 2025 | FY2023ended Dec 31, 2023filed Feb 28, 2024 | FY2022ended Dec 31, 2022filed Mar 1, 2023 | FY2021ended Dec 31, 2021filed Mar 1, 2022 | FY2020ended Dec 31, 2020filed Feb 25, 2021 | FY2019ended Dec 31, 2019filed Feb 24, 2020 | FY2018ended Dec 31, 2018filed Feb 28, 2019 | FY2017ended Dec 31, 2017filed Mar 1, 2018 | FY2016ended Dec 31, 2016filed Mar 1, 2017 | FY2015ended Dec 31, 2015filed Feb 26, 2016 | FY2014ended Dec 31, 2014filed Mar 2, 2015 | FY2013ended Dec 31, 2013filed Feb 27, 2014 | FY2012ended Dec 31, 2012filed Feb 27, 2013 | FY2011ended Dec 31, 2011filed Feb 27, 2012 | FY2010ended Dec 31, 2010filed Feb 25, 2011 | FY2009ended Dec 31, 2009filed Aug 4, 2010 | FY2008ended Dec 31, 2008filed Aug 4, 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 1,291 | 1,335 | 1,544 | 1,286 | 1,190 | 1,126 | 970 | 851 | 818 | 743 | 723 | — | 498 | 341 | 249 | 201 | 223 | 174 |
| Capital expenditures | 225 | 228 | 237 | 214 | 134 | 129 | 154 | 150 | 147 | 140 | 209 | 211 | 169 | 113 | 127 | 67 | 47 | 36 |
| Free cash flow (CFO − capex) | 1,067 | 1,107 | 1,308 | 1,071 | 1,056 | 997 | 816 | 701 | 671 | 603 | 514 | — | 329 | 228 | 122 | 135 | 176 | 138 |
| Depreciation and amortization | 292 | 270 | 716 | 708 | 700 | 722 | 697 | 672 | 643 | 638 | 660 | 627 | 533 | 408 | 309 | 279 | 259 | 211 |
| Share repurchases | 498 | 200 | 100 | 432 | 583 | 859 | 467 | 796 | 855 | 546 | 450 | — | — | — | 225 | 107 | 52 | 120 |
| Dividends paid | 479 | 424 | 370 | 307 | 254 | 208 | 83 | — | — | — | — | — | — | — | — | — | — | — |
Insider activity
Form 4 filings by officers, directors and 10% owners, November 1, 2024 to November 1, 2026. Only open-market purchases and sales count as buys and sells; awards, exercises, tax withholding and gifts are listed in grey and never counted.
The last 25 transactions
| Traded | Insider | Role | Transaction | Shares | Price | Value | Held after | Filed |
|---|---|---|---|---|---|---|---|---|
| Oct 17, 2026 | Montagner Marc | EVP - CHIEF FINANCIAL OFFICER | option exercise | 1,588 | $0.00 | — | 7,784 | Oct 20, 2026 |
| Oct 17, 2026 | Montagner Marc | EVP - CHIEF FINANCIAL OFFICER | tax withholding | 625 | $187.06 | $117K | 7,159 | Oct 20, 2026 |
| Aug 17, 2026 | Krouse George R Jr | Director | open-market sale | 300 | $182.67 | $55K | 8,512 | Aug 19, 2026 |
| Aug 1, 2026 | Day Donald | EVP - SITE LEASING | option exercise | 457 | $0.00 | — | 10,163 | Aug 4, 2026 |
| Aug 1, 2026 | Day Donald | EVP - SITE LEASING | tax withholding | 171 | $180.98 | $31K | 9,992 | Aug 4, 2026 |
| May 13, 2026 | Krouse George R Jr | Director | option exercise | 501 | $212.31 | $106K | 9,312 | May 15, 2026 |
| May 13, 2026 | Krouse George R Jr | Director | tax withholding | 500 | $213.61 | $107K | 8,812 | May 15, 2026 |
| May 13, 2026 | Langer Jack | Director | option exercise | 1,501 | $212.31 | $319K | 10,200 | May 15, 2026 |
| May 13, 2026 | Langer Jack | Director | tax withholding | 1,496 | $213.61 | $320K | 8,704 | May 15, 2026 |
| May 13, 2026 | Beebe Kevin L | Director | option exercise | 1,501 | $212.31 | $319K | 18,136 | May 15, 2026 |
| May 13, 2026 | Beebe Kevin L | Director | tax withholding | 1,492 | $213.61 | $319K | 16,644 | May 15, 2026 |
| May 13, 2026 | Bernstein Steven E | Director | option exercise | 1,501 | $212.31 | $319K | 8,636 | May 15, 2026 |
| May 13, 2026 | Bernstein Steven E | Director | tax withholding | 1,496 | $213.61 | $320K | 7,140 | May 15, 2026 |
| May 1, 2026 | Langer Jack | Director | option exercise | 248 | — | — | 8,392 | May 5, 2026 |
| May 1, 2026 | Langer Jack | Director | option exercise | 302 | — | — | 8,694 | May 5, 2026 |
| May 1, 2026 | Langer Jack | Director | option exercise | 331 | — | — | 9,025 | May 5, 2026 |
| May 1, 2026 | Langer Jack | Director | tax withholding | 326 | $221.20 | $72K | 8,699 | May 5, 2026 |
| May 1, 2026 | Bernstein Steven E | Director | option exercise | 248 | — | — | 6,502 | May 5, 2026 |
| May 1, 2026 | Bernstein Steven E | Director | option exercise | 302 | — | — | 6,804 | May 5, 2026 |
| May 1, 2026 | Bernstein Steven E | Director | option exercise | 331 | — | — | 7,135 | May 5, 2026 |
| May 1, 2026 | Krouse George R Jr | Director | option exercise | 248 | — | — | 8,504 | May 5, 2026 |
| May 1, 2026 | Krouse George R Jr | Director | option exercise | 302 | — | — | 8,806 | May 5, 2026 |
| May 1, 2026 | Krouse George R Jr | Director | option exercise | 331 | — | — | 9,137 | May 5, 2026 |
| May 1, 2026 | Krouse George R Jr | Director | tax withholding | 326 | $221.20 | $72K | 8,811 | May 5, 2026 |
| May 1, 2026 | Beebe Kevin L | Director | option exercise | 248 | — | — | 16,002 | May 5, 2026 |
Full insider history for SBA Communications Corp, or insider activity across all companies. A record of filings, not a recommendation.
Tracked funds holding it
1 of the tracked managers held SBAC in their latest 13F filing, through August 14, 2026. Weight is the share of the fund’s reported portfolio. How the funds have traded SBAC by quarter.
| Fund | Manager | Quarter | Value | Shares | Weight | Move |
|---|---|---|---|---|---|---|
| Baron Capital Group | Ron Baron | Q2 2026 | $106K | 600 | 0.00% | held |
Sources
Fiscal year ends in month 12; periods are labeled with the issuer's own fiscal calendar. Values are as most recently filed (restatements apply; per-share values are on current split basis per the connector's split table, flagged in adjusted). Flow items flagged in `derived` were computed (Q4 = FY − nine months; quarterly cash flow differenced from year-to-date filings) rather than read from a filing. `reconciliation.repaired` lists periods where a full-year figure was filed in a quarter slot: that row was dropped and the quarter rebuilt from the annual figure. `reconciliation.quarantined` lists periods where four filed quarters do not sum to the filed year — those quarterly values are withheld, so a blank there is a withholding rather than an absence of reporting.
- Filer
- SBA COMMUNICATIONS CORPORATION, CIK 1034054 on EDGAR
- Extract generated
- November 1, 2026
- Withheld
- 13 line-years whose four quarters do not sum to the filed year: depreciation amortization FY2011, capex FY2013, capex FY2014, capex FY2015, capex FY2016, capex FY2017, capex FY2019, capex FY2020, capex FY2021, capex FY2022, capex FY2023, capex FY2024, capex FY2025
- Repaired
- 6 quarters where a full-year figure was filed in a quarter slot and the quarter was rebuilt: capex FY2015, capex FY2018, capex FY2019, income tax FY2020, capex FY2024, capex FY2025
XBRL concepts behind each line
Income statement
RevenuesCostOfGoodsAndServicesSold, CostOfRevenueGrossProfitSellingGeneralAndAdministrativeExpenseOperatingIncomeLossNonoperatingIncomeExpenseIncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest, IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestmentsIncomeTaxExpenseBenefitNetIncomeLossEarningsPerShareDilutedWeightedAverageNumberOfDilutedSharesOutstandingBalance sheet
CashAndCashEquivalentsAtCarryingValueMarketableSecuritiesCurrent, ShortTermInvestmentsAssetsCurrentAssetsLiabilitiesCurrentLongTermDebtNoncurrentStockholdersEquitydei:EntityCommonStockSharesOutstandingCash flow statement
NetCashProvidedByUsedInOperatingActivitiesPaymentsToAcquireProductiveAssets, PaymentsToAcquirePropertyPlantAndEquipmentDepreciationAmortizationAndAccretionNetPaymentsForRepurchaseOfCommonStockPaymentsOfDividendsThe data
The statements on this page as files, generated November 1, 2026.
- JSON file
/data/financials/SBAC.json