SBA Communications Corporation

NasdaqGS:SBAC Stock Report

Market Cap: US$20.9b

SBA Communications Valuation

Is SBAC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of SBAC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: SBAC ($196.43) is trading below our estimate of future cash flow value ($231.86)

Significantly Below Future Cash Flow Value: SBAC is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SBAC?

Key metric: As SBAC is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for SBAC. This is calculated by dividing SBAC's market cap by their current earnings.
What is SBAC's PE Ratio?
PE Ratio19.7x
EarningsUS$1.05b
Market CapUS$20.88b

Price to Earnings Ratio vs Peers

How does SBAC's PE Ratio compare to its peers?

The above table shows the PE ratio for SBAC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average37.6x
CCI Crown Castle
36x9.56%US$39.4b
AMT American Tower
35.2x9.36%US$88.7b
WY Weyerhaeuser
55.2x28.45%US$17.9b
LAMR Lamar Advertising
24x6.61%US$14.1b
SBAC SBA Communications
19.7x-3.06%US$20.9b

Price-To-Earnings vs Peers: SBAC is good value based on its Price-To-Earnings Ratio (19.7x) compared to the peer average (37.6x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does SBAC's PE Ratio compare vs other companies in the US Specialized REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
SBAC 19.7xIndustry Avg. 30.0xNo. of Companies4PE020406080100+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SBAC is good value based on its Price-To-Earnings Ratio (19.7x) compared to the North American Specialized REITs industry average (30x).

Price to Earnings Ratio vs Fair Ratio

What is SBAC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SBAC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.7x
Fair PE Ratio30.1x

Price-To-Earnings vs Fair Ratio: SBAC is good value based on its Price-To-Earnings Ratio (19.7x) compared to the estimated Fair Price-To-Earnings Ratio (30.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SBAC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$196.43
US$225.56
+14.83%
11.06%US$280.00US$182.00n/a18
Feb ’27US$184.11
US$227.72
+23.69%
10.91%US$280.00US$182.00n/a18
Jan ’27US$193.43
US$233.71
+20.82%
10.57%US$280.00US$182.00n/a17
Dec ’26US$188.57
US$234.88
+24.56%
9.77%US$280.00US$192.00n/a17
Nov ’26US$191.48
US$238.24
+24.42%
9.53%US$280.00US$198.00n/a17
Oct ’26US$191.79
US$248.88
+29.77%
7.29%US$285.00US$220.00n/a17
Sep ’26US$204.85
US$256.29
+25.11%
5.98%US$285.00US$230.00n/a17
Aug ’26US$228.57
US$256.83
+12.37%
5.64%US$285.00US$225.00n/a18
Jul ’26US$238.74
US$254.94
+6.79%
6.16%US$280.00US$225.00n/a17
Jun ’26US$231.89
US$254.94
+9.94%
6.16%US$280.00US$225.00n/a17
May ’26US$240.74
US$253.24
+5.19%
6.62%US$280.00US$225.00n/a17
Apr ’26US$220.42
US$249.35
+13.13%
6.86%US$280.00US$221.00n/a17
Mar ’26US$217.90
US$249.24
+14.38%
7.18%US$280.00US$220.00US$201.1617
Feb ’26US$197.56
US$253.53
+28.33%
9.72%US$300.00US$205.00US$184.1117
Jan ’26US$203.80
US$256.88
+26.04%
8.93%US$300.00US$205.00US$193.4316
Dec ’25US$226.25
US$260.63
+15.19%
7.03%US$300.00US$225.00US$188.5716
Nov ’25US$225.59
US$259.94
+15.23%
7.18%US$300.00US$225.00US$191.4816
Oct ’25US$242.64
US$247.44
+1.98%
7.67%US$285.00US$202.00US$191.7916
Sep ’25US$226.66
US$241.94
+6.74%
8.65%US$285.00US$202.00US$204.8516
Aug ’25US$227.16
US$240.06
+5.68%
8.51%US$285.00US$202.00US$228.5716
Jul ’25US$189.78
US$242.13
+27.58%
8.48%US$298.00US$212.00US$238.7416
Jun ’25US$196.68
US$244.13
+24.13%
8.04%US$298.00US$214.00US$231.8915
May ’25US$189.12
US$246.93
+30.57%
8.00%US$298.00US$214.00US$240.7415
Apr ’25US$213.92
US$259.20
+21.17%
7.92%US$304.00US$220.00US$220.4215
Mar ’25US$208.29
US$260.33
+24.99%
7.85%US$304.00US$220.00US$217.9015
US$225.56
Fair Value
12.9% undervalued intrinsic discount
18
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/04 23:04
End of Day Share Price 2026/03/04 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

SBA Communications Corporation is covered by 38 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Amir RozwadowskiBarclays
Brendan LynchBarclays
Clayton MoranBenchmark Company