SBA Communications
Market Cap
US$29.3b
Last Updated
2020/03/30 00:56 UTC
Data Sources
Company Financials +
Executive Summary
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.
Rewards
Risk Analysis
No risks detected for SBAC from our risk checks.
Snowflake Analysis
Solid track record with moderate growth potential.
Similar Companies
Share Price & News
How has SBA Communications's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SBAC has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
21.3%
SBAC
20.4%
US REITs
12.5%
US Market
1 Year Return
32.1%
SBAC
-19.8%
US REITs
-12.7%
US Market
Return vs Industry: SBAC exceeded the US REITs industry which returned -19.8% over the past year.
Return vs Market: SBAC exceeded the US Market which returned -12.7% over the past year.
Shareholder returns
| SBAC | Industry | Market | |
|---|---|---|---|
| 7 Day | 21.3% | 20.4% | 12.5% |
| 30 Day | -1.4% | -19.3% | -14.7% |
| 90 Day | 8.5% | -24.5% | -21.5% |
| 1 Year | 32.7%32.1% | -16.8%-19.8% | -10.9%-12.7% |
| 3 Year | 119.6%118.6% | -0.8%-12.9% | 12.6%5.4% |
| 5 Year | 117.7%116.8% | 12.1%-10.8% | 31.9%17.5% |
Price Volatility Vs. Market
How volatile is SBA Communications's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 weeks ago | Simply Wall St
Steven Bernstein Is The Founder & Chairman of SBA Communications Corporation (NASDAQ:SBAC) And They Just Sold 38% Of Their Shares1 month ago | Simply Wall St
SBA Communications Corporation Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next1 month ago | Simply Wall St
Shareholders Are Thrilled That The SBA Communications (NASDAQ:SBAC) Share Price Increased 172%Valuation
Is SBA Communications undervalued compared to its fair value and its price relative to the market?
7.8%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SBAC ($261.38) is trading below our estimate of fair value ($283.62)
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 (200.6x) compared to the REITs industry average (24.1x).
PE vs Market: SBAC is poor value based on its PE Ratio (200.6x) compared to the US market (13x).
Price to Earnings Growth Ratio
PEG Ratio: SBAC is poor value based on its PEG Ratio (9.3x)
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.
Next Steps
Future Growth
How is SBA Communications forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?
21.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SBAC's forecast earnings growth (21.6% per year) is above the savings rate (1.7%).
Earnings vs Market: SBAC's earnings (21.6% per year) are forecast to grow faster than the US market (12.3% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: SBAC's revenue (6.1% per year) is forecast to grow slower than the US market (7.3% per year).
High Growth Revenue: SBAC's revenue (6.1% 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
Next Steps
Past Performance
How has SBA Communications performed over the past 5 years?
56.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SBAC has high quality earnings.
Growing Profit Margin: SBAC's current net profit margins (7.3%) are higher than last year (2.5%).
Past Earnings Growth Analysis
Earnings Trend: SBAC has become profitable over the past 5 years, growing earnings by 56% per year.
Accelerating Growth: SBAC's earnings growth over the past year (209.8%) exceeds its 5-year average (56% per year).
Earnings vs Industry: SBAC earnings growth over the past year (209.8%) exceeded the REITs industry 5%.
Return on Equity
High ROE: SBAC's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.
Next Steps
Financial Health
How is SBA Communications's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: SBAC has a high level of physical assets or inventory.
Debt Coverage by Assets: SBAC has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: SBAC is profitable, therefore cash runway is not a concern.
Forecast Cash Runway: SBAC is profitable, therefore cash runway is not a concern.
Financial Institutions Analysis
Asset Level: SBAC's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if SBAC has a sufficient allowance for bad loans.
Low Risk Liabilities: SBAC reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if SBAC has an acceptable proportion of non-loan assets held.
Low Risk Deposits: SBAC has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if SBAC has an appropriate level of bad loans.
Next Steps
Dividend
What is SBA Communications's current dividend yield, its reliability and sustainability?
0.71%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SBAC's dividend (0.71%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.98%).
High Dividend: SBAC's dividend (0.71%) is low compared to the top 25% of dividend payers in the US market (5.49%).
Stability and Growth of Payments
Stable Dividend: SBAC is not paying a notable dividend for the US market, therefore no need to check if payments are stable.
Growing Dividend: SBAC is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.
Current Payout to Shareholders
Dividend Coverage: SBAC is not paying a notable dividend for the US market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of SBAC's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
11.5yrs
Average management tenure
CEO
Jeff Stoops (60yo)
18.17s
Tenure
US$9,101,986
Compensation
Mr. Jeffrey A. Stoops, also known as Jeff, has been the Chief Executive Officer and President of SBA Communications Corporation (REIT) and SBA Communications Corp. since January 1, 2002 and April 2000 resp ...
CEO Compensation Analysis
Compensation vs Market: Jeff's total compensation ($USD9.10M) is about average for companies of similar size in the US market ($USD11.74M).
Compensation vs Earnings: Jeff's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 18.17yrs | US$9.10m | 0.72% $211.0m | |
| Executive VP & CFO | 11.5yrs | US$3.61m | 0.043% $12.5m | |
| Executive VP | 12.83yrs | US$3.82m | 0.15% $43.9m | |
| Executive Vice President of Site Leasing | 11yrs | US$3.05m | 0.011% $3.1m | |
| Executive VP & President of International | 9.42yrs | US$3.88m | 0.044% $13.0m | |
| Executive Vice President of Operations | 6.17yrs | no data | 0.017% $4.9m | |
| Senior VP & Chief Accounting Officer | 11.5yrs | no data | 0.017% $4.9m | |
| Chief Information Officer & Senior VP | 14.17yrs | no data | no data | |
| Vice President of Business Development | 18.33yrs | no data | no data | |
| Chief Human Resources Officer and Senior Vice President | 6.17yrs | no data | no data |
11.5yrs
Average Tenure
54yo
Average Age
Experienced Management: SBAC's management team is seasoned and experienced (11.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 18.17yrs | US$9.10m | 0.72% $211.0m | |
| Founder & Chairman | 31.17yrs | US$312.96k | 0.092% $26.9m | |
| Independent Director | 10.42yrs | US$233.80k | 0.011% $3.3m | |
| Independent Director | 15.83yrs | US$233.80k | 0.0026% $754.8k | |
| Lead Independent Director | 6.17yrs | US$273.80k | 0.013% $3.9m | |
| Independent Director | 15.58yrs | US$253.80k | 0.062% $18.2m | |
| Independent Director | 4.83yrs | US$233.80k | 0.0021% $626.1k | |
| Independent Director | 0.17yr | no data | no data | |
| Independent Director | 10.42yrs | US$243.80k | 0.0089% $2.6m |
10.4yrs
Average Tenure
60yo
Average Age
Experienced Board: SBAC's board of directors are seasoned and experienced ( 10.4 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: SBAC insiders have only sold shares 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 company bio, 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
- Market Cap: US$29.256b
- Shares outstanding: 111.93m
- Website: https://www.sbasite.com
Number of Employees
Location
- SBA Communications Corporation
- 8051 Congress Avenue
- Boca Raton
- Florida
- 33487
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SBAC | NasdaqGS (Nasdaq Global Select) | Yes | Class A Common Stock | US | USD | Jun 1999 |
| 4SB | DB (Deutsche Boerse AG) | Yes | Class A Common Stock | DE | EUR | Jun 1999 |
| 0KYZ | LSE (London Stock Exchange) | Yes | Class A Common Stock | GB | USD | Jun 1999 |
| SBAC * | BMV (Bolsa Mexicana de Valores) | Yes | Class A Common Stock | MX | MXN | Jun 1999 |
| S1BA34 | BOVESPA (Bolsa de Valores de Sao Paulo) | BDR EACH 5 REPR 1 COM | BR | BRL | Jan 2020 |
Biography
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.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/03/30 00:56 |
| End of Day Share Price | 2020/03/27 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.