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Saturday 17 October 2026 Export SBAC’s income statement to Excel — free account

SBA Communications Corporation

SBAC Real Estate Reit Specialty

SBA Communications Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.8 billion, up 5.06% from fiscal 2024. In the quarter to June 2026, revenue grew 2.33%, EPS fell 11.0%, free cash flow grew 11.3% and total debt rose 1.74%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for five consecutive years.

187.06 3.34 +1.82%
Market cap
$19.5B
P/E
20.1×
Fwd P/E
27.6×
Dividend yield
2.60%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

SBA Communications Corporation (SBAC) Operating margin

Alert me on Operating margin

SBA Communications Corporation's operating margin over the twelve months to 30 June 2026 was 47.7%, down 0.1 percentage points from fiscal 2025 (47.7%). Over the past ten years it has ranged from 19.1% (fiscal 2015) to 53.6% (fiscal 2024); the current reading is higher than 91% of that period. That is above the Reit Specialty industry median of 21.4% and above the Real Estate sector median of 18.8%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 47.7% (5.88)
FY2024 53.6% 19.52
FY2023 34.1% (1.08)
FY2022 35.1% 1.25
FY2021 33.9% 3.47
FY2020 30.4% 1.46
FY2019 29.0% (0.21)
FY2018 29.2% 2.63
FY2017 26.5% 2.82
FY2016 23.7% 4.65

Quarterly newest first

Period Operating margin Change (points)
Jun 2026 49.2% 0.45
Mar 2026 48.7% 7.20
Dec 2025 41.5% (9.55)
Sep 2025 51.1% 3.19
42 more quarters

Against its own ten years

Low 19.1% High 53.6%
Ten-year median 30.4%
Current reading's percentile 88

Operating margin against peers

Company Operating margin
GLPI Gaming and Leisure Properties, Inc. compare 82.6%
CCI Crown Castle Inc. compare 47.7%
SBAC SBA Communications Corporation 47.7%
LAMR Lamar Advertising Company compare 31.8%
OUT OUTFRONT Media Inc. compare 20.5%
IRM Iron Mountain Incorporated compare 18.8%
WY Weyerhaeuser Company compare 12.3%
RYN Rayonier Inc. compare 5.96%
DLR Digital Realty Trust, Inc. compare 0.79%
Reit Specialty industry median 21.4%
Real Estate sector median 18.8%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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