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
Property Revenue	2,571	2,527	2,517	2,337	2,104
Service and Other Revenue	244.5	152.87	194.65	296.88	204.75
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	492	463	472.69	445.69	386.39
Service and Other Expenses	198.97	118.73	139.94	222.97	159.09
Total Property Expenses	690.97	581.73	612.62	668.65	545.48
Gross Profit	2,124	2,098	2,099	1,965	1,763
Selling, General & Admin	277.61	258.76	267.94	261.85	220.03
Depreciation & Amortization Expenses	292.29	269.52	716.31	707.58	700.16
Other Operating Expenses	211.49	133.87	191.06	69.97	60.67
Operating Income	1,343	1,436	923.66	925.41	782.5
Interest Income	31.68	41.96	18.31	10.13	3.45
Interest Expense	-498.63	-448.7	-456.51	-419.73	-419.59
Other Non-Operating Income (Expense)	366.21	-256.36	63.05	10.03	-113.79
Total Non-Operating Income (Expense)	-100.75	-663.1	-375.16	-399.57	-529.93
Pretax Income	1,242	772.67	548.5	525.84	252.56
Provision for Income Taxes	187.58	23.99	51.09	66.04	14.94
Net Income	1,054	749.54	501.81	461.43	237.62
Minority Interest in Earnings	0.82	-0.86	-4.4	-1.63	-
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%
Shares Outstanding (Basic)	107	108	108	108	109
Shares Outstanding (Diluted)	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%
Free Cash Flow	1,067	1,107	1,308	1,071	1,056
Free Cash Flow Growth	-3.63%	-15.37%	22.07%	1.43%	5.89%
Free Cash Flow Per Share	9.92	10.24	12.01	9.79	9.50
Dividends Per Share	4.440	3.920	3.400	2.840	2.320
Dividend Growth	13.26%	15.29%	19.72%	22.41%	17.47%
Gross Margin	75.46%	78.29%	77.41%	74.61%	76.37%
Operating Margin	47.70%	53.58%	34.06%	35.14%	33.89%
Profit Margin	37.46%	27.94%	18.34%	17.46%	10.29%
FCF Margin	37.88%	41.30%	48.23%	40.68%	45.75%
EBITDA	1,635	1,705	1,640	1,633	1,483
EBITDA Margin	58.08%	63.64%	60.48%	62.01%	64.22%
EBIT	1,343	1,436	923.66	925.41	782.5
EBIT Margin	47.70%	53.58%	34.06%	35.14%	33.89%
Effective Tax Rate	15.10%	3.10%	9.31%	12.56%	5.92%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Real Estate template. Financial Sources.