Crown Castle Inc. (CCI) vs SBA Communications Corporation (SBAC)

Crown Castle Inc. and SBA Communications Corporation are both Reit Specialty companies. Crown Castle Inc. is the larger, with a market value of $28.7B against $17.6B — 1.6× the size. SBA Communications Corporation trades at the lower P/E: 17.8× against 34.3×. SBA Communications Corporation grew revenue faster over the last twelve months: 5.36% against −4.56%. SBA Communications Corporation has the higher net margin (34.5% vs 20.7%) and the higher return on invested capital (11.0% vs 9.03%). Both pay a dividend; Crown Castle Inc. yields more (5.82% vs 1.59%). Across the 22 metrics below, SBA Communications Corporation leads on 13 and Crown Castle Inc. on 9.

Valuation

Metric CCI SBAC Reit Specialty median
P/E 34.26 17.85 26.27
P/S 7.06 6.14 5.86
P/B n/m n/m 2.19
Price to free cash flow 12.21 13.09 14.62
EV/EBITDA 17.21 17.55 16.22
EV/Sales 11.14 10.45 8.93
Earnings yield 2.92% 5.60% 3.43%
Free cash flow yield 8.19% 7.64% 5.37%

Profitability

Metric CCI SBAC Reit Specialty median
Gross margin 73.73% 75.18% 67.43%
Operating margin 47.66% 47.65% 21.38%
Net margin 20.72% 34.51% 16.14%
Free cash flow margin 57.82% 46.89% 31.07%
Return on equity (37.06%) (20.71%) 4.76%
Return on assets 3.24% 8.80% 3.29%
Return on invested capital 9.03% 11.04% 4.19%

Growth

Metric CCI SBAC Reit Specialty median
Revenue growth (TTM) (4.56%) 5.36% 5.36%
EPS growth (last fiscal year) 111.25% 41.21% —
Revenue growth, 5-year CAGR (6.10%) 6.21% 6.70%
Net income growth, 5-year CAGR (14.97%) 112.87% 0.00%

Health

Metric CCI SBAC Reit Specialty median
Debt to equity (5.58) (2.75) 0.62
Current ratio 0.52 0.17 0.70
Net debt to EBITDA 8.60 7.52 4.47

Dividend

Metric CCI SBAC Reit Specialty median
Dividend yield 5.82% 1.59% 3.88%
Payout ratio 1.57 0.67 1.14

Size

Metric CCI SBAC Reit Specialty median
Market cap 28.72b 17.62b 8.48b

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