SBA Communications (SBAC) financials
SBA Communications revenue and earnings by year
SBA Communications's revenue was $2.82 billion in the fiscal year to December 31, 2025, up 5.1% from the year before. Net income was $1.05 billion, 37.4% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 6.2% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2.82 | 2.68 | 2.71 | 2.63 | 2.31 | 2.08 | 2.01 | 1.87 | 1.73 | 1.63 |
| Revenue growth | 5.1% | -1.2% | 3.0% | 14.1% | 10.8% | 3.4% | 8.0% | 8.0% | 5.8% | — |
| Operating income | 1.34 | 1.44 | 0.92 | 0.93 | 0.78 | 0.63 | 0.58 | 0.54 | 0.46 | 0.39 |
| Operating margin | 47.7% | 53.6% | 34.1% | 35.1% | 33.9% | 30.4% | 29.0% | 29.2% | 26.5% | 23.7% |
| Net income | 1.05 | 0.75 | 0.50 | 0.46 | 0.24 | 0.02 | 0.15 | 0.05 | 0.10 | 0.08 |
| Net margin | 37.4% | 28.0% | 18.5% | 17.5% | 10.3% | 1.2% | 7.3% | 2.5% | 6.0% | 4.7% |
| Diluted EPS | $9.80 | $6.94 | $4.61 | $4.21 | $2.13 | $0.20 | $1.29 | $0.41 | $0.86 | $0.61 |
| Free cash flow | 1.19 | 1.11 | 1.31 | 1.07 | 1.06 | 1.00 | 0.82 | 0.70 | 0.67 | 0.60 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open SBAC in Markets.
How SBA Communications makes money
Revenue by segment in the quarter to June 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Domestic Site Leasing Revenue | $452M | 63.3% |
| International Site Leasing Revenue | $211M | 29.6% |
| Site Development Construction | $51.4M | 7.2% |
See also: SBAC valuation and P/E history · SBAC returns
No forecast, no recommendation. This page describes SBA Communications from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.