SBA Communications Corporation

NasdaqGS:SBAC Stock Report

Market Cap: US$23.8b

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 Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair 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.

Below Fair Value: SBAC ($221.09) is trading below our estimate of fair value ($407.28)

Significantly Below Fair Value: SBAC is trading below fair value by more than 20%.

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 Ratio34.7x
EarningsUS$685.43m
Market CapUS$23.77b

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 Average35.9x
CCI Crown Castle
36.7x6.3%US$45.1b
AMT American Tower
47.3x20.0%US$91.8b
WY Weyerhaeuser
42.1x21.4%US$22.5b
GLPI Gaming and Leisure Properties
17.3x4.6%US$13.9b
SBAC SBA Communications
34.7x11.6%US$23.8b

Price-To-Earnings vs Peers: SBAC is good value based on its Price-To-Earnings Ratio (34.7x) compared to the peer average (35.9x).

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 34.7xIndustry Avg. 27.9xNo. of Companies3PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SBAC is expensive based on its Price-To-Earnings Ratio (34.7x) compared to the US Specialized REITs industry average (27.9x).

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 Ratio34.7x
Fair PE Ratio40.9x

Price-To-Earnings vs Fair Ratio: SBAC is good value based on its Price-To-Earnings Ratio (34.7x) compared to the estimated Fair Price-To-Earnings Ratio (40.9x).

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$221.09
US$260.56
+17.9%
7.0%US$300.00US$225.00n/a16
Nov ’25US$225.59
US$259.94
+15.2%
7.2%US$300.00US$225.00n/a16
Oct ’25US$242.64
US$247.44
+2.0%
7.7%US$285.00US$202.00n/a16
Sep ’25US$226.66
US$241.94
+6.7%
8.7%US$285.00US$202.00n/a16
Aug ’25US$227.16
US$240.06
+5.7%
8.5%US$285.00US$202.00n/a16
Jul ’25US$189.78
US$242.13
+27.6%
8.5%US$298.00US$212.00n/a16
Jun ’25US$196.68
US$244.13
+24.1%
8.0%US$298.00US$214.00n/a15
May ’25US$189.12
US$246.93
+30.6%
8.0%US$298.00US$214.00n/a15
Apr ’25US$213.92
US$259.20
+21.2%
7.9%US$304.00US$220.00n/a15
Mar ’25US$208.29
US$260.33
+25.0%
7.8%US$304.00US$220.00n/a15
Feb ’25US$230.92
US$272.33
+17.9%
10.0%US$343.00US$228.00n/a15
Jan ’25US$253.69
US$267.20
+5.3%
9.5%US$343.00US$228.00n/a15
Dec ’24US$250.57
US$249.50
-0.4%
11.2%US$343.00US$206.00n/a16
Nov ’24US$207.66
US$246.38
+18.6%
11.4%US$327.00US$202.00US$225.5916
Oct ’24US$200.17
US$275.44
+37.6%
10.9%US$327.00US$228.00US$242.6416
Sep ’24US$221.69
US$283.71
+28.0%
9.6%US$330.00US$245.00US$226.6617
Aug ’24US$228.10
US$291.88
+28.0%
8.8%US$330.00US$245.00US$227.1617
Jul ’24US$231.76
US$308.76
+33.2%
8.6%US$350.00US$260.00US$189.7817
Jun ’24US$220.69
US$310.65
+40.8%
8.1%US$350.00US$260.00US$196.6817
May ’24US$261.04
US$318.53
+22.0%
8.4%US$352.00US$255.00US$189.1217
Apr ’24US$261.07
US$322.22
+23.4%
6.9%US$352.00US$255.00US$213.9218
Mar ’24US$254.91
US$322.22
+26.4%
6.9%US$352.00US$255.00US$208.2918
Feb ’24US$301.17
US$327.17
+8.6%
8.2%US$365.00US$250.00US$230.9218
Jan ’24US$280.31
US$329.89
+17.7%
9.4%US$400.00US$250.00US$253.6919
Dec ’23US$301.21
US$327.00
+8.6%
10.0%US$400.00US$250.00US$250.5718
Nov ’23US$275.76
US$330.28
+19.8%
12.8%US$425.00US$250.00US$207.6618

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

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