SBA Communications Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	2,571	2,527	2,517	2,337	2,104
Other Revenue	244.5	152.87	194.65	296.88	204.75
Total Revenue	2,815	2,680	2,712	2,633	2,309
Revenue Growth (YoY	5.06%	-1.18%	2.97%	14.06%	10.83%
Property Expenses	718.29	607.67	634.29	695.46	573.11
Selling, General & Administrative	276.74	259.42	267.94	261.85	220.03
Depreciation & Amortization	292.29	269.52	716.31	707.58	700.16
Other Operating Expenses	9.47	17.96	17.91	0.33	1.88
Total Operating Expenses	1,297	1,155	1,636	1,665	1,495
Operating Income	1,518	1,525	1,075	968.24	813.66
Interest Expense	-498.63	-448.7	-456.51	-419.73	-419.59
Interest & Investment Income	31.68	41.96	18.31	10.13	3.45
Currency Exchange Gain (Loss)	121.5	-236.5	-	-	-
Other Non-Operating Income	36.31	-13.92	63.05	10.47	-74.28
EBT Excluding Unusual Items	1,209	867.91	699.98	569.11	323.23
Gain (Loss) on Sale of Assets	208.4	-	-	-	-
Asset Writedown	-175.57	-89.3	-151.48	-42.83	-31.16
Other Unusual Items	-	-5.94	-	-0.44	-39.5
Pretax Income	1,242	772.67	548.5	525.84	252.56
Income Tax Expense	187.58	23.99	51.09	66.04	14.94
Earnings From Continuing Operations	1,054	748.68	497.42	459.8	237.62
Minority Interest in Earnings	-0.82	0.86	4.4	1.63	-
Net Income	1,054	749.54	501.81	461.43	237.62
Net Income to Common	1,054	749.54	501.81	461.43	237.62
Net Income Growth	40.57%	49.37%	8.75%	94.19%	885.83%
Basic Shares Outstanding	107	108	108	108	109
Diluted Shares Outstanding	108	108	109	109	111
Shares Change (YoY)	-0.51%	-0.76%	-0.44%	-1.61%	-2.02%
EPS (Basic)	9.83	6.96	4.64	4.27	2.17
EPS (Diluted)	9.80	6.94	4.61	4.22	2.14
EPS Growth	41.21%	50.54%	9.24%	97.20%	919.05%
Dividend Per Share	4.440	3.920	3.400	2.840	2.320
Dividend Growth	13.26%	15.29%	19.72%	22.41%	17.47%
Operating Margin	53.94%	56.91%	39.65%	36.77%	35.24%
Profit Margin	37.43%	27.97%	18.51%	17.52%	10.29%
EBITDA	1,811	1,795	1,791	1,676	1,514
EBITDA Margin	64.32%	66.97%	66.07%	63.64%	65.57%
D&A For Ebitda	292.29	269.52	716.31	707.58	700.16
EBIT	1,518	1,525	1,075	968.24	813.66
EBIT Margin	53.94%	56.91%	39.65%	36.77%	35.24%
Effective Tax Rate	15.10%	3.10%	9.31%	12.56%	5.92%
Revenue as Reported	2,815	2,680	2,712	2,633	2,309

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.