SBA Communications Corporation (SBAC)

SBA Communications Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Property Revenue	2,611	2,571	2,527	2,517	2,337	2,104
Service and Other Revenue	243.75	244.5	152.87	194.65	296.88	204.75
Revenue	2,854	2,815	2,680	2,712	2,633	2,309
Revenue Growth (YoY)	6.27%	5.06%	-1.18%	2.97%	14.06%	10.83%
Property Expenses	508.43	492	463	472.69	445.69	386.39
Service and Other Expenses	200.21	198.97	118.73	139.94	222.97	159.09
Total Property Expenses	708.64	690.97	581.73	612.62	668.65	545.48
Gross Profit	2,146	2,124	2,098	2,099	1,965	1,763
Selling, General & Admin	281.94	277.61	258.76	267.94	261.85	220.03
Depreciation & Amortization Expenses	308.55	292.29	269.52	716.31	707.58	700.16
Other Operating Expenses	204.47	211.49	133.87	191.06	69.97	60.67
Operating Income	1,351	1,343	1,436	923.66	925.41	782.5
Interest Income	26.1	31.68	41.96	18.31	10.13	3.45
Interest Expense	-515.26	-498.63	-448.7	-456.51	-419.73	-419.59
Other Non-Operating Income (Expense)	356.57	366.21	-256.36	63.05	10.03	-113.79
Total Non-Operating Income (Expense)	-132.6	-100.75	-663.1	-375.16	-399.57	-529.93
Pretax Income	1,218	1,242	772.67	548.5	525.84	252.56
Provision for Income Taxes	196.68	187.58	23.99	51.09	66.04	14.94
Net Income	1,018	1,054	749.54	501.81	461.43	237.62
Minority Interest in Earnings	3.72	0.82	-0.86	-4.4	-1.63	-
Net Income to Common	1,018	1,054	749.54	501.81	461.43	237.62
Net Income Growth	24.76%	40.57%	49.37%	8.75%	94.19%	885.83%
Shares Outstanding (Basic)	107	107	108	108	108	109
Shares Outstanding (Diluted)	107	108	108	109	109	111
Shares Change (YoY)	-0.84%	-0.51%	-0.76%	-0.44%	-1.61%	-2.02%
EPS (Basic)	9.54	9.83	6.96	4.64	4.27	2.17
EPS (Diluted)	9.50	9.80	6.94	4.61	4.22	2.14
EPS Growth	25.66%	41.21%	50.54%	9.24%	97.20%	919.05%
Shares Outstanding	106.06	105.67	107.56	108.05	108	108.96
Free Cash Flow	1,018	1,067	1,107	1,308	1,071	1,056
Free Cash Flow Growth	-4.53%	-3.63%	-15.37%	22.07%	1.43%	5.89%
Free Cash Flow Per Share	9.51	9.92	10.24	12.01	9.79	9.50
Dividends Per Share	4.580	4.440	3.920	3.400	2.840	2.320
Dividend Growth	3.15%	13.26%	15.29%	19.72%	22.41%	17.47%
Gross Margin	75.17%	75.46%	78.29%	77.41%	74.61%	76.37%
Operating Margin	47.32%	47.70%	53.58%	34.06%	35.14%	33.89%
Profit Margin	35.79%	37.46%	27.94%	18.34%	17.46%	10.29%
FCF Margin	35.67%	37.88%	41.30%	48.23%	40.68%	45.75%
EBITDA	1,659	1,635	1,705	1,640	1,633	1,483
EBITDA Margin	58.13%	58.08%	63.64%	60.48%	62.01%	64.22%
EBIT	1,351	1,343	1,436	923.66	925.41	782.5
EBIT Margin	47.32%	47.70%	53.58%	34.06%	35.14%	33.89%
Effective Tax Rate	16.15%	15.10%	3.10%	9.31%	12.56%	5.92%

Updated May 5, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q