SBA Communications
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SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. The last earnings update was 11 days ago. More info.
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SBAC Share Price and Events
7 Day Returns
1 Year Returns
SBAC Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| SBA Communications (SBAC) | 0.3% | 6% | 14.4% | 31.4% | 115.1% | 108.7% |
| US REITs | 1.8% | 2.4% | 3.1% | 16.3% | 13.8% | 26.4% |
| US Market | -0.7% | -2% | 2.4% | 3% | 39.2% | 42% |
1 Year Return vs Industry and Market
- SBAC outperformed the REITs industry which returned 16.3% over the past year.
- SBAC outperformed the Market in United States of America which returned 3% over the past year.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
SBA Communications
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for SBA Communications.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations | |
| Levered Adjusted Funds From Operations | Average of 16 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.7% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.53 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (51.51%)) |
0.831 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.83 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.831 * 5.96%) |
7.68% |
Discounted Cash Flow Calculation for NasdaqGS:SBAC using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model
The calculations below outline how an intrinsic value for SBA Communications is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
SBA Communications is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.
| Adjusted Funds From Operations (AFFO) (USD, Millions) | Source |
Present Value Discounted (@ 7.68%) |
|
|---|---|---|---|
| 2019 | 950.01 | Analyst x9 | 882.25 |
| 2020 | 1,036.59 | Analyst x9 | 894.00 |
| 2021 | 1,125.62 | Analyst x5 | 901.54 |
| 2022 | 1,228.34 | Analyst x3 | 913.65 |
| 2023 | 1,292.08 | Analyst x2 | 892.51 |
| 2024 | 1,369.86 | Est @ 6.02% | 878.75 |
| 2025 | 1,438.81 | Est @ 5.03% | 857.15 |
| 2026 | 1,501.28 | Est @ 4.34% | 830.58 |
| 2027 | 1,559.21 | Est @ 3.86% | 801.10 |
| 2028 | 1,614.09 | Est @ 3.52% | 770.15 |
| Present value of next 10 years cash flows | $8,621.70 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $1,614.09 × (1 + 2.73%) ÷ (7.68% – 2.73%) |
$33,498.16 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $33,498.16 ÷ (1 + 7.68%)10 |
$15,983.47 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $8,621.70 + $15,983.47 |
$24,605.17 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $24,605.17 / 113.25 |
$217.26 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $217.26 |
| Current discount | Discount to share price of
$209.98
= -1 x ($209.98 - $217.26) / $217.26 |
3.4% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- SBA Communications's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- SBA Communications's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for SBA Communications's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
SBA Communications's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $0.37 |
| NasdaqGS:SBAC Share Price ** | NasdaqGS (2019-05-17) in USD | $209.98 |
| United States of America REITs Industry PE Ratio | Median Figure of 156 Publicly-Listed REITs Companies | 32.79x |
| United States of America Market PE Ratio | Median Figure of 3,088 Publicly-Listed Companies | 17.89x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of SBA Communications.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NasdaqGS:SBAC Share Price ÷ EPS (both in USD) = 209.98 ÷ 0.37 |
571.19x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- SBA Communications is overvalued based on earnings compared to the US REITs industry average.
- SBA Communications is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
SBA Communications's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 571.19x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts |
31.1%per year |
| United States of America REITs Industry PEG Ratio | Median Figure of 141 Publicly-Listed REITs Companies | 2.4x |
| United States of America Market PEG Ratio | Median Figure of 2,117 Publicly-Listed Companies | 1.56x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 571.19x ÷ 31.1% |
18.36x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- SBA Communications is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
SBA Communications's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $-29.18 |
| NasdaqGS:SBAC Share Price * | NasdaqGS (2019-05-17) in USD | $209.98 |
| United States of America REITs Industry PB Ratio | Median Figure of 191 Publicly-Listed REITs Companies | 1.86x |
| United States of America Market PB Ratio | Median Figure of 5,195 Publicly-Listed Companies | 1.83x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NasdaqGS:SBAC Share Price ÷ Book Value per Share (both in USD) = 209.98 ÷ -29.18 |
-7.2x |
* Primary Listing of SBA Communications.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- SBA Communications has negative assets, we can't compare the value of its assets to the US REITs industry average.
Value checks
We assess SBA Communications's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) SBA Communications has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- SBA Communications's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- SBA Communications's earnings growth is expected to exceed the United States of America market average.
- SBA Communications's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NasdaqGS:SBAC Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts | 31.1% |
| NasdaqGS:SBAC Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts | 5.8% |
| United States of America REITs Industry Earnings Growth Rate | Market Cap Weighted Average | 5.7% |
| United States of America REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 4.3% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.9% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.3% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 16 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 2,451 | 1,303 | 389 | 2 |
| 2022-12-31 | 2,379 | 1,211 | 321 | 3 |
| 2021-12-31 | 2,232 | 1,117 | 280 | 10 |
| 2020-12-31 | 2,088 | 1,024 | 226 | 16 |
| 2019-12-31 | 1,973 | 899 | 119 | 16 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 1,901 | 895 | 42 |
| 2018-12-31 | 1,866 | 851 | 47 |
| 2018-09-30 | 1,825 | 851 | -2 |
| 2018-06-30 | 1,792 | 839 | 31 |
| 2018-03-31 | 1,763 | 825 | 98 |
| 2017-12-31 | 1,728 | 818 | 104 |
| 2017-09-30 | 1,701 | 807 | 101 |
| 2017-06-30 | 1,678 | 792 | 37 |
| 2017-03-31 | 1,657 | 770 | 60 |
| 2016-12-31 | 1,633 | 743 | 76 |
| 2016-09-30 | 1,624 | 716 | 102 |
| 2016-06-30 | 1,623 | 702 | -39 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 16 Analyst Estimates (S&P Global) | See Below |
All data from SBA Communications Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 3.51 | 3.97 | 3.05 | 2.00 |
| 2022-12-31 | 2.88 | 3.36 | 2.40 | 2.00 |
| 2021-12-31 | 2.57 | 3.83 | 1.96 | 9.00 |
| 2020-12-31 | 2.02 | 3.18 | 1.34 | 14.00 |
| 2019-12-31 | 1.05 | 1.16 | 0.90 | 13.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 0.37 |
| 2018-12-31 | 0.41 |
| 2018-09-30 | -0.02 |
| 2018-06-30 | 0.26 |
| 2018-03-31 | 0.82 |
| 2017-12-31 | 0.86 |
| 2017-09-30 | 0.84 |
| 2017-06-30 | 0.30 |
| 2017-03-31 | 0.49 |
| 2016-12-31 | 0.61 |
| 2016-09-30 | 0.81 |
| 2016-06-30 | -0.31 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Unable to establish if SBA Communications will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess SBA Communications's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
SBA Communications has a total score of 3/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has SBA Communications performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- SBA Communications has delivered over 20% year on year earnings growth in the past 5 years.
- SBA Communications's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- SBA Communications's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
All data from SBA Communications Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 1,900.69 | 41.90 | 156.63 | |
| 2018-12-31 | 1,865.70 | 47.45 | 141.72 | |
| 2018-09-30 | 1,824.92 | -2.04 | 137.57 | |
| 2018-06-30 | 1,791.64 | 30.98 | 134.96 | |
| 2018-03-31 | 1,762.61 | 97.60 | 132.13 | |
| 2017-12-31 | 1,727.67 | 103.65 | 129.91 | |
| 2017-09-30 | 1,701.11 | 101.26 | 114.95 | |
| 2017-06-30 | 1,678.48 | 36.72 | 114.55 | |
| 2017-03-31 | 1,656.72 | 60.20 | 128.89 | |
| 2016-12-31 | 1,633.13 | 76.24 | 125.21 | |
| 2016-09-30 | 1,623.56 | 101.99 | 137.39 | |
| 2016-06-30 | 1,622.98 | -38.58 | 133.12 | |
| 2016-03-31 | 1,628.15 | -42.99 | 113.71 | |
| 2015-12-31 | 1,638.47 | -175.66 | 113.19 | |
| 2015-09-30 | 1,636.27 | -206.28 | 110.96 | |
| 2015-06-30 | 1,618.83 | -66.96 | 109.76 | |
| 2015-03-31 | 1,591.54 | -104.73 | 106.98 | |
| 2014-12-31 | 1,527.00 | -24.30 | 101.83 | |
| 2014-09-30 | 1,457.66 | -43.85 | 97.17 | |
| 2014-06-30 | 1,396.46 | -5.70 | 92.53 | |
| 2014-03-31 | 1,337.35 | -32.13 | 88.75 | |
| 2013-12-31 | 1,304.87 | -55.91 | 84.66 | |
| 2013-09-30 | 1,263.31 | -89.18 | 82.21 | |
| 2013-06-30 | 1,169.82 | -164.13 | 78.32 | |
| 2013-03-31 | 1,074.67 | -183.08 | 74.46 | |
| 2012-12-31 | 954.08 | -183.33 | 71.05 | |
| 2012-09-30 | 844.06 | -159.98 | 67.20 | |
| 2012-06-30 | 781.01 | -139.87 | 64.51 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- It is difficult to establish if SBA Communications has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
- SBA Communications used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
- SBA Communications has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess SBA Communications's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
SBA Communications has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is SBA Communications's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up SBA Communications's finances.
The net worth of a company is the difference between its assets and liabilities.
- SBA Communications's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- SBA Communications's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- SBA Communications has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from SBA Communications Company Filings, last reported 1 month ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | -3,302.78 | 12,249.93 | 117.61 |
| 2018-12-31 | -3,376.82 | 9,938.55 | 143.44 |
| 2018-09-30 | -3,145.08 | 9,734.15 | 136.22 |
| 2018-06-30 | -3,042.14 | 9,699.74 | 134.65 |
| 2018-03-31 | -2,588.24 | 9,383.69 | 109.35 |
| 2017-12-31 | -2,599.11 | 9,310.69 | 68.78 |
| 2017-09-30 | -2,257.80 | 8,958.80 | 139.71 |
| 2017-06-30 | -1,985.68 | 8,678.71 | 164.52 |
| 2017-03-31 | -1,916.49 | 8,666.17 | 132.22 |
| 2016-12-31 | -1,995.92 | 8,775.58 | 146.11 |
| 2016-09-30 | -1,669.06 | 9,031.27 | 165.23 |
| 2016-06-30 | -1,607.58 | 8,482.80 | 133.96 |
| 2016-03-31 | -1,630.56 | 8,472.27 | 103.27 |
| 2015-12-31 | -1,706.14 | 8,452.07 | 118.04 |
| 2015-09-30 | -1,697.66 | 8,486.85 | 73.27 |
| 2015-06-30 | -1,133.23 | 8,256.40 | 69.85 |
| 2015-03-31 | -1,036.79 | 7,963.58 | 62.37 |
| 2014-12-31 | -660.80 | 7,860.80 | 39.44 |
| 2014-09-30 | -297.62 | 7,550.09 | 450.26 |
| 2014-06-30 | 159.29 | 6,859.09 | 107.65 |
| 2014-03-31 | 396.19 | 6,869.76 | 322.91 |
| 2013-12-31 | 356.97 | 5,876.61 | 122.11 |
| 2013-09-30 | 448.43 | 5,648.33 | 189.41 |
| 2013-06-30 | 435.74 | 5,641.21 | 189.44 |
| 2013-03-31 | 696.65 | 5,363.79 | 122.23 |
| 2012-12-31 | 664.70 | 5,356.10 | 233.10 |
| 2012-09-30 | 452.34 | 5,306.03 | 1,441.05 |
| 2012-06-30 | 492.26 | 4,009.39 | 86.74 |
- SBA Communications has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
- Irrelevant to check if SBA Communications's debt level has increased considering it has negative shareholder equity.
- Debt is not well covered by operating cash flow (7.3%, less than 20% of total debt).
- Interest payments on debt are not well covered by earnings (EBIT is 1.4x annual interest expense, ideally 3x coverage).
Financial health checks
We assess SBA Communications's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) SBA Communications has a total score of 0/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is SBA Communications's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
SBA Communications
shares you are expected to receive
$0
in your first year as a dividend.
Dividend Amount
- Unable to evaluate SBA Communications's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
- Unable to evaluate SBA Communications's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 16 Analyst Estimates (S&P Global) | See Below |
| United States of America REITs Industry Average Dividend Yield | Market Cap Weighted Average of 184 Stocks | 3.9% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2000 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 8.63 | 1.00 |
| 2022-12-31 | 6.25 | 2.00 |
| 2021-12-31 | 4.42 | 4.00 |
| 2020-12-31 | 0.00 | 6.00 |
| 2019-12-31 | 0.00 | 7.00 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to perform a dividend volatility check as SBA Communications has not reported any payouts.
- Unable to verify if SBA Communications's dividend has been increasing as the company has not reported any payouts.
Income/ dividend checks
We assess SBA Communications's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can SBA Communications afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) SBA Communications has a total score of 1/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | $8,205,344 |
| AGE | 59 |
| TENURE AS CEO | 17.3 years |
CEO Bio
Mr. Jeffrey A. Stoops, also known as Jeff, has been the Chief Executive Officer and President of SBA Communications Corporation (REIT) and SBA Communications Corp. since January 1, 2002 and April 2000 respectively. Mr. Stoops joined SBA Communications Corporation in April 1997. He served as Chief Financial Officer at SBA Communications Corporation. Prior to joining SBA Communications Corporation, Mr. Stoops was a Partner with Gunster, Yoakley & Stewart, P.S., a South Florida Law Firm, where he practiced for 13 Years in the corporate, securities and mergers and acquisitions areas. He has been a Director of SBA Communications Corporation since August 1999. Mr. Stoops is a member of the Florida Bar.
CEO Compensation
- Jeff's compensation has been consistent with company performance over the past year.
- Jeff's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the SBA Communications management team in years:
- The average tenure for the SBA Communications management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Steven Bernstein
Founder & Chairman
$282K
57
Jeff Stoops
President
$8M
59
17.3 yrs
Brendan Cavanagh
Executive VP & CFO
$3M
46
10.7 yrs
Tom Hunt
Executive VP
$3M
60
12 yrs
Kurt Bagwell
Executive VP & President of International
$4M
53
17.3 yrs
Jason Silberstein
Executive Vice President of Site Leasing
$3M
49
10.3 yrs
Mark Ciarfella
Executive Vice President of Operations
52
5.3 yrs
Brian Lazarus
Senior VP & Chief Accounting Officer
46
10.7 yrs
Jorge Grau
Chief Information Officer & Senior VP
55
13.3 yrs
Bill Bates
Vice President of Business Development
17.5 yrs
Board of Directors Tenure
Average tenure and age of the SBA Communications board of directors in years:
- The average tenure for the SBA Communications board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors
Jeff Stoops
President
$8M
59
19.8 yrs
Jack Langer
Lead Independent Director
$280K
69
5.3 yrs
Steven Bernstein
Founder & Chairman
$282K
57
30.3 yrs
Duncan Cocroft
Director
$260K
74
14.8 yrs
George Krouse
Director
$250K
72
9.6 yrs
Brian Carr
Director
$240K
56
15 yrs
Kevin Beebe
Director
$240K
59
9.6 yrs
Mary Chan
Director
$240K
55
4 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 10. May 19 | Sell | Brian Carr | Individual | 09. May 19 | 09. May 19 | -700 | $206.50 | $-144,550 | ||
| 19. Mar 19 | Sell | Jason Silberstein | Individual | 15. Mar 19 | 15. Mar 19 | -4,404 | $190.85 | $-840,503 | ||
| 12. Mar 19 | Sell | Kurt Bagwell | Individual | 08. Mar 19 | 12. Mar 19 | -7,000 | $186.70 | $-1,296,878 | ||
| 07. Mar 19 | Sell | Steven Bernstein | Individual | 05. Mar 19 | 05. Mar 19 | -30,241 | $182.92 | $-5,525,348 | ||
| 21. Nov 18 | Sell | Duncan Cocroft | Individual | 19. Nov 18 | 19. Nov 18 | -12,543 | $171.85 | $-2,155,515 | ||
| 20. Nov 18 | Sell | Thomas Hunt | Individual | 19. Nov 18 | 19. Nov 18 | -79,908 | $173.18 | $-13,781,420 | ||
| 20. Nov 18 | Sell | Brendan Cavanagh | Individual | 16. Nov 18 | 19. Nov 18 | -21,047 | $173.46 | $-3,629,395 | ||
| 13. Nov 18 | Sell | Brian Carr | Individual | 09. Nov 18 | 09. Nov 18 | -249 | $171.98 | $-42,823 | ||
| 10. Nov 18 | Sell | Calculated Risk Partners L.P. | Company | 09. Nov 18 | 09. Nov 18 | -40,000 | $171.93 | $-6,868,806 | ||
| 10. Nov 18 | Sell | Jeffrey Stoops | Individual | 08. Nov 18 | 08. Nov 18 | -40,000 | $170.47 | $-6,818,800 | ||
| 18. Sep 18 | Sell | Kurt Bagwell | Individual | 14. Sep 18 | 14. Sep 18 | -5 | $160.50 | $-803 | ||
| 17. Aug 18 | Sell | Brian Carr | Individual | 15. Aug 18 | 15. Aug 18 | -800 | $155.00 | $-124,000 | ||
Management checks
We assess SBA Communications's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) SBA Communications has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Is SBA Communications Corporation's (NASDAQ:SBAC) CEO Pay Justified?
First, this article will compare CEO compensation with compensation at other large companies. … Next, we'll consider growth that the business demonstrates. … How Does Jeff Stoops's Compensation Compare With Similar Sized Companies?
Simply Wall St - – Full articleShould You Invest In SBA Communications Corporation (NASDAQ:SBAC)?
The structure of SBAC is unique and it has to adhere to different requirements compared to other non-REIT stocks. … A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent … FFO is a cleaner and more representative figure of how much SBAC actually makes from its day-to-day operations, compared to net income, which can be affected by one-off activities or non-cash items such as depreciation
Simply Wall St - – Full articleCan You Imagine How SBA Communications's Shareholders Feel About The 93% Share Price Increase?
Given that SBA Communications only made minimal earnings in the last twelve months, we'll focus on revenue to gauge its business development. … Many high growth companies focus on growing revenue before profits, but if revenue is the focus, it really needs to grow. … For the last half decade, SBA Communications can boast revenue growth at a rate of 5.6% per year.
Simply Wall St - – Full articleHave Insiders Been Selling SBA Communications Corporation (NASDAQ:SBAC) Shares This Year?
So shareholders might well want to know whether insiders have been buying or selling shares in SBA Communications Corporation (NASDAQ:SBAC). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … We generally consider it a negative if insiders have been selling on market, especially if they did so below the current price
Simply Wall St - – Full articleIs SBA Communications Corporation (NASDAQ:SBAC) A Healthy REIT?
real estate investment trust (REIT) based in Boca Raton, United States. … Below, I'll look at a few important metrics to keep in mind as part of your research on SBAC. … This term is very common in the REIT investing world as it provides a cleaner look at its cash flow from daily operations by excluding impact of one-off activities or non-cash items such as depreciation
Simply Wall St - – Full articleShould You Worry About SBA Communications Corporation's (NASDAQ:SBAC) CEO Salary Level?
This analysis aims first to contrast CEO compensation with other large companies. … According to our data, SBA Communications Corporation has a market capitalization of US$19b, and pays its CEO total annual compensation worth US$8.2m. … When we examined a group of companies with market caps over US$8.0b, we found that their median CEO compensation was US$11m
Simply Wall St - – Full articleIs It Time To Consider Buying SBA Communications Corporation (NASDAQ:SBAC)?
received a lot of attention from a substantial price movement on the NasdaqGS over the last few months, increasing to $165.49 at one point, and dropping to the lows of $146.65. … A question to answer is whether SBA Communications's current trading price of $153.31 reflective of the actual value of the? … Let’s take a look at SBA Communications’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change
Simply Wall St - – Full articleSBA Communications Corporation's (NASDAQ:SBAC) Insiders Just Sold Shares - Should You?
some insider selling over the past three months, with insiders divesting from. … Generally, insiders selling shares in their own firm sends a bearish signal. … A research published in The MIT Press (1998) concluded that stocks following insider selling fell 2.7% compared to the market
Simply Wall St - – Full articleIs SBA Communications Corporation's (NASDAQ:SBAC) Stock Available For A Good Price After Accounting For Growth?
SBA Communications Corporation (NASDAQ:SBAC) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of $156.17 is based on unrealistic expectations. … What can we expect from SBA Communications in the future. … One reason why investors are attracted to SBAC is the high growth potential in the near future
Simply Wall St - – Full articleWhat Can We Expect for SBA Communications Corporation (NASDAQ:SBAC) Moving Forward?
SBA Communications Corporation (NASDAQ:SBAC), a US$18.19B large-cap, operates in the real estate industry which is the most prevalent industry in the global economy, and as an asset class, it has continued to play a crucial role in the portfolios of various investors. … Real estate analysts are forecasting for the entire industry, negative growth in the upcoming year , and an overall negative growth rate in the next couple of years. … Unsuprisingly, this is below the growth rate of the US stock market as a whole.
Simply Wall St - – Full articleCompany Info
Description
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By “Building Better Wireless,” SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
Details
| Name: | SBA Communications Corporation |
| SBAC | |
| Exchange: | NasdaqGS |
| Founded: | 1989 |
| $23,780,471,227 | |
| 113,251,125 | |
| Website: | http://www.sbasite.com |
| Address: |
SBA Communications Corporation 8051 Congress Avenue, Boca Raton, Florida, 33487, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NasdaqGS | SBAC | Class A Common Stock | Nasdaq Global Select | US | USD | 16. Jun 1999 | |
| LSE | 0KYZ | Class A Common Stock | London Stock Exchange | GB | USD | 16. Jun 1999 | |
| BMV | SBAC * | Class A Common Stock | Bolsa Mexicana de Valores | MX | MXN | 16. Jun 1999 |
Number of employees
Current staff
Industry
| Specialized REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/20 01:40 |
| End of day share price update: | 2019/05/17 00:00 |
| Last estimates confirmation: | 2019/05/06 |
| Last earnings filing: | 2019/05/09 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
