SBA Communications Corporation SBAC
SBA Communications Corporation stands as a premier owner, operator, and provider of crucial wireless communication infrastructure across North, Central, and South America, in addition to South Africa. Guided by its mission to 'Build Better Wireless,' the company primarily earns revenue from two core business areas: the leasing of antenna space and providing comprehensive site development services. Its central activity revolves around renting out capacity on its shared communication towers to various wireless service providers through long-term contractual agreements. For further details, please visit www.sbasite.com.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-02-27 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / AFFO / leverage are from the Q1 2026 earnings release (filed 2026-04-29) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model SBAC yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $2.82B | $1.05B | $292.29M | $2.00B | $1.29B |
| 2024 | $2.68B | $749.54M | $269.52M | $1.79B | $1.33B |
| 2023 | $2.71B | $501.81M | $716.31M | $1.79B | $1.54B |
| 2022 | $2.63B | $461.43M | $707.58M | $1.68B | $1.29B |
| 2021 | $2.31B | $237.62M | $700.16M | $1.51B | $1.19B |
| 2020 | $2.08B | $24.10M | $721.97M | $1.39B | $1.13B |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-08-20 | 2026-08-20 | 2026-09-17 | 2026-08-02 | $1.25 | Quarterly |
| 2026-05-22 | 2026-05-22 | 2026-06-17 | 2026-04-28 | $1.25 | Quarterly |
| 2026-03-13 | 2026-03-13 | 2026-03-27 | 2026-02-25 | $1.25 | Quarterly |
| 2025-11-13 | 2025-11-13 | 2025-12-11 | 2025-11-02 | $1.11 | Quarterly |
| 2025-08-21 | 2025-08-21 | 2025-09-18 | 2025-08-03 | $1.11 | Quarterly |
| 2025-05-22 | 2025-05-22 | 2025-06-17 | 2025-04-28 | $1.11 | Quarterly |
| 2025-03-13 | 2025-03-13 | 2025-03-27 | 2025-02-24 | $1.11 | Quarterly |
| 2024-11-14 | 2024-11-14 | 2024-12-12 | 2024-10-27 | $0.98 | Quarterly |
| 2024-08-22 | 2024-08-22 | 2024-09-18 | 2024-07-29 | $0.98 | Quarterly |
| 2024-05-22 | 2024-05-23 | 2024-06-19 | 2024-04-29 | $0.98 | Quarterly |
| 2024-03-13 | 2024-03-14 | 2024-03-28 | 2024-02-26 | $0.98 | Quarterly |
| 2023-11-15 | 2023-11-16 | 2023-12-14 | 2023-11-02 | $0.85 | Quarterly |
| 2023-08-23 | 2023-08-24 | 2023-09-20 | 2023-07-31 | $0.85 | Quarterly |
| 2023-05-25 | 2023-05-26 | 2023-06-21 | 2023-05-01 | $0.85 | Quarterly |
| 2023-03-09 | 2023-03-10 | 2023-03-24 | 2023-02-21 | $0.85 | Quarterly |
| 2022-11-16 | 2022-11-17 | 2022-12-15 | 2022-10-31 | $0.71 | Quarterly |
| 2022-08-24 | 2022-08-25 | 2022-09-20 | 2022-08-01 | $0.71 | Quarterly |
| 2022-05-18 | 2022-05-19 | 2022-06-14 | 2022-04-25 | $0.71 | Quarterly |
| 2022-03-09 | 2022-03-10 | 2022-03-25 | 2022-02-28 | $0.71 | Quarterly |
| 2021-11-17 | 2021-11-18 | 2021-12-16 | 2021-11-01 | $0.58 | Quarterly |
| 2021-08-25 | 2021-08-26 | 2021-09-23 | 2021-08-02 | $0.58 | Quarterly |
| 2021-05-19 | 2021-05-20 | 2021-06-15 | 2021-04-26 | $0.58 | Quarterly |
| 2021-03-09 | 2021-03-10 | 2021-03-26 | 2021-02-22 | $0.58 | Quarterly |
| 2020-11-18 | 2020-11-19 | 2020-12-17 | 2020-11-02 | $0.47 | Quarterly |
Coverage (payout of operating cash flow): 41.64%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — SBAC
SBA Communications Corporation Sets Date for Third Quarter 2026 Earnings Release
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SBA Communications Corporation (SBAC) Presents at RBC Capital Markets 2026 Global Communications and Infrastructure Conference Transcript
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
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Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.