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SBAC

SBA CommunicationsNasdaqGS:SBAC Stock Report

Last Price

US$321.23

Market Cap

US$34.9b

7D

-5.1%

1Y

17.9%

Updated

19 Jan, 2022

Data

Company Financials +
SBAC fundamental analysis
Snowflake Score
Valuation1/6
Future Growth3/6
Past Performance3/6
Financial Health0/6
Dividends2/6

SBAC Stock Overview

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa.

SBA Communications Competitors

American Tower

NYSE:AMT

US$113.4b

Crown Castle International

NYSE:CCI

US$79.2b

Cellnex Telecom

BME:CLNX

€29.0b

Indus Towers

NSEI:INDUSTOWER

₹729.4b

Price History & Performance

Summary of all time highs, changes and price drops for SBA Communications
Historical stock prices
Current Share PriceUS$321.23
52 Week HighUS$391.15
52 Week LowUS$232.88
Beta0.31
1 Month Change-14.19%
3 Month Change-5.57%
1 Year Change17.87%
3 Year Change83.04%
5 Year Change210.37%
Change since IPO3,519.49%

Recent News & Updates

Shareholder Returns

SBACUS REITsUS Market
7D-5.1%-3.2%-4.6%
1Y17.9%25.7%7.7%

Return vs Industry: SBAC underperformed the US REITs industry which returned 29.9% over the past year.

Return vs Market: SBAC exceeded the US Market which returned 10.2% over the past year.

Price Volatility

Is SBAC's price volatile compared to industry and market?
SBAC volatility
SBAC Average Weekly Movement3.6%
REITs Industry Average Movement4.0%
Market Average Movement6.6%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.4%

Stable Share Price: SBAC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: SBAC's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19891,483Jeff Stoopshttps://www.sbasite.com

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. 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.

SBA Communications Fundamentals Summary

How do SBA Communications's earnings and revenue compare to its market cap?
SBAC fundamental statistics
Market CapUS$34.94b
Earnings (TTM)US$294.50m
Revenue (TTM)US$2.25b

118.7x

P/E Ratio

15.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SBAC income statement (TTM)
RevenueUS$2.25b
Cost of RevenueUS$555.22m
Gross ProfitUS$1.69b
ExpensesUS$1.40b
EarningsUS$294.50m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)2.71
Gross Margin75.32%
Net Profit Margin13.09%
Debt/Equity Ratio-239.7%

How did SBAC perform over the long term?

See historical performance and comparison

Dividends

0.7%

Current Dividend Yield

21%

Payout Ratio

Valuation

Is SBA Communications undervalued compared to its fair value and its price relative to the market?

13.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SBAC ($321.23) is trading below our estimate of fair value ($370.84)

Significantly Below Fair Value: SBAC is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: SBAC is poor value based on its PE Ratio (118.7x) compared to the US REITs industry average (46.3x).

PE vs Market: SBAC is poor value based on its PE Ratio (118.7x) compared to the US market (17x).


Price to Earnings Growth Ratio

PEG Ratio: SBAC is poor value based on its PEG Ratio (5.4x)


Price to Book Ratio

PB vs Industry: SBAC has negative assets, so we can't compare its PB Ratio to the US REITs industry average.


Future Growth

How is SBA Communications forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

21.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SBAC's forecast earnings growth (21.9% per year) is above the savings rate (2%).

Earnings vs Market: SBAC's earnings (21.9% per year) are forecast to grow faster than the US market (13% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SBAC's revenue (4.7% per year) is forecast to grow slower than the US market (9.2% per year).

High Growth Revenue: SBAC's revenue (4.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if SBAC's Return on Equity is forecast to be high in 3 years time


Past Performance

How has SBA Communications performed over the past 5 years?

18.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SBAC has high quality earnings.

Growing Profit Margin: SBAC became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: SBAC's earnings have grown by 18.7% per year over the past 5 years.

Accelerating Growth: SBAC has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: SBAC has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (29.5%).


Return on Equity

High ROE: SBAC's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Financial Health

How is SBA Communications's financial position?


Financial Position Analysis

Short Term Liabilities: SBAC has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: SBAC has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: SBAC has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: SBAC's has negative shareholder equity, so we do not need to check if its debt has reduced over time.

Debt Coverage: SBAC's debt is not well covered by operating cash flow (9.6%).

Interest Coverage: SBAC's interest payments on its debt are not well covered by EBIT (1.9x coverage).


Balance Sheet


Dividend

What is SBA Communications's current dividend yield, its reliability and sustainability?

0.72%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SBAC's dividend (0.72%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: SBAC's dividend (0.72%) is low compared to the top 25% of dividend payers in the US market (3.48%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, SBAC has been paying a dividend for less than 10 years.

Growing Dividend: SBAC's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (21.3%), SBAC's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SBAC's dividends in 3 years are forecast to be well covered by earnings (37.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

13.3yrs

Average management tenure


CEO

Jeff Stoops (62 yo)

21.75yrs

Tenure

US$12,819,044

Compensation

Mr. Jeffrey A. Stoops, also known as Jeff, has been the Chief Executive Officer and President of SBA Communications Corporation since January 1, 2002 and April 2000 respectively. He had been Independent Di...


CEO Compensation Analysis

Compensation vs Market: Jeff's total compensation ($USD12.82M) is about average for companies of similar size in the US market ($USD11.29M).

Compensation vs Earnings: Jeff's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: SBAC's management team is seasoned and experienced (13.3 years average tenure).


Board Members

Experienced Board: SBAC's board of directors are seasoned and experienced ( 14.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

SBA Communications Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: SBA Communications Corporation
  • Ticker: SBAC
  • Exchange: NasdaqGS
  • Founded: 1989
  • Industry: Specialized REITs
  • Sector: Real Estate
  • Implied Market Cap: US$34.944b
  • Shares outstanding: 108.78m
  • Website: https://www.sbasite.com

Number of Employees


Location

  • SBA Communications Corporation
  • 8051 Congress Avenue
  • Boca Raton
  • Florida
  • 33487
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/19 23:31
End of Day Share Price2022/01/19 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


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.