SBA Communications Cash Flow 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
Net Income	1,054	748.68	497.42	459.8	237.62
Depreciation & Amortization	292.29	269.52	716.31	707.58	700.16
Stock-Based Compensation	75.73	74.37	87.92	99.91	84.4
Other Adjustments	48.48	385.35	178.28	131.54	202.84
Change in Receivables	-56.25	18.11	44.39	-81.35	-38.24
Changes in Accounts Payable	-17.52	-4.4	-66.32	25.12	-0.47
Changes in Other Operating Activities	-105.86	-156.76	86.41	-56.89	3.58
Operating Cash Flow	1,291	1,335	1,544	1,286	1,190
Operating Cash Flow Growth	-3.26%	-13.57%	20.12%	8.05%	5.67%
Capital Expenditures	-224.82	-228.15	-236.7	-214.44	-133.69
Sale of Property, Plant & Equipment	330.65	0.33	3.72	-	-
Purchases of Investments	-1,166	-1,801	-1,339	-881.78	-1,731
Proceeds from Sale of Investments	1,404	1,537	1,338	878.14	1,730
Payments for Business Acquisitions	-1,059	-299.81	-129.96	-1,176	-1,258
Other Investing Activities	113.22	-17.75	-104.63	0.52	-31.23
Investing Cash Flow	-601.83	-809.31	-468.25	-1,394	-1,423
Short-Term Debt Issued	695	370	190	975	1,935
Short-Term Debt Repaid	-220	-550	-730	-605	-1,965
Net Short-Term Debt Issued (Repaid)	475	-180	-540	370	-30
Long-Term Debt Issued	-	4,333	-	839.89	4,409
Long-Term Debt Repaid	-1,188	-2,913	-24	-664	-3,206
Net Long-Term Debt Issued (Repaid)	-1,188	1,420	-24	175.89	1,203
Issuance of Common Stock	55.55	35.99	44.2	38.3	86.69
Repurchase of Common Stock	-523.31	-218.82	-127.49	-441.62	-654.48
Net Common Stock Issued (Repurchased)	-467.76	-182.83	-83.3	-403.32	-567.79
Common Dividends Paid	-479.01	-424.19	-369.96	-306.77	-253.58
Other Financing Activities	-3.81	12.58	0.04	28.73	-12.83
Financing Cash Flow	-1,664	645.74	-1,017	-135.47	339.26
Effect of Exchange Rate Changes on Cash and Cash Equivalents	10.44	-21.59	2.73	-2.92	-13.08
Net Cash Flow	-963.64	1,150	61.66	-246.34	92.82
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%
FCF Margin	37.88%	41.30%	48.23%	40.68%	45.75%
Free Cash Flow Per Share	9.92	10.24	12.01	9.79	9.50
Levered Free Cash Flow	284.72	1,870	437.51	1,469	1,981
Unlevered Free Cash Flow	1,084	1,271	1,337	1,271	1,306

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