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SBA Communications

Nasdaq:SBAC
Snowflake Description

Solid track record with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SBAC
Nasdaq
$29B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

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 12 days ago. More info.


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SBAC Share Price and Events
7 Day Returns
2.4%
NasdaqGS:SBAC
0.2%
US REITs
-1%
US Market
1 Year Returns
64.9%
NasdaqGS:SBAC
8.1%
US REITs
-0.4%
US Market
SBAC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
SBA Communications (SBAC) 2.4% 14% 28.1% 64.9% 129.9% 139.7%
US REITs 0.2% 2.8% 3.7% 8.1% 8.6% 25%
US Market -1% -3.3% 0.8% -0.4% 30.4% 37.1%
1 Year Return vs Industry and Market
  • SBAC outperformed the REITs industry which returned 8.1% over the past year.
  • SBAC outperformed the Market in United States of America which returned -0.4% over the past year.
Price Volatility
SBAC
Industry
5yr Volatility vs Market

Value

 Is SBA Communications undervalued based on future cash flows and its price relative to the stock market?

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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for SBA Communications.

NasdaqGS:SBAC Discounted Cash Flow Data Sources
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 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
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.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:SBAC
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 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.475 (1 + (1- 21%) (41.48%))
0.752
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NasdaqGS:SBAC using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

NasdaqGS:SBAC Discount to Share Price
Calculation Result
Value per share (USD) From above. $239.27
Current discount Discount to share price of $260.29
= -1 x ($260.29 - $239.27) / $239.27
-8.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of SBA Communications is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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?
Raw Data
NasdaqGS:SBAC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $1.16
NasdaqGS:SBAC Share Price ** NasdaqGS (2019-08-16) in USD $260.29
United States of America REITs Industry PE Ratio Median Figure of 153 Publicly-Listed REITs Companies 33.56x
United States of America Market PE Ratio Median Figure of 3,096 Publicly-Listed Companies 17.26x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of SBA Communications.

NasdaqGS:SBAC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:SBAC Share Price ÷ EPS (both in USD)

= 260.29 ÷ 1.16

225.07x

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?
Raw Data
NasdaqGS:SBAC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 225.07x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
26.1%per year
United States of America REITs Industry PEG Ratio Median Figure of 140 Publicly-Listed REITs Companies 2.14x
United States of America Market PEG Ratio Median Figure of 2,126 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

NasdaqGS:SBAC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 225.07x ÷ 26.1%

8.62x

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?
Raw Data
NasdaqGS:SBAC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $-29.53
NasdaqGS:SBAC Share Price * NasdaqGS (2019-08-16) in USD $260.29
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.93x
United States of America Market PB Ratio Median Figure of 5,273 Publicly-Listed Companies 1.7x
NasdaqGS:SBAC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:SBAC Share Price ÷ Book Value per Share (both in USD)

= 260.29 ÷ -29.53

-8.81x

* 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.
X
Value checks
We assess SBA Communications's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. 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

 How is SBA Communications expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

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!
Annual Growth Rate
26.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is SBA Communications expected to grow at an attractive rate?
  • 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
Raw Data
NasdaqGS:SBAC Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:SBAC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 26.1%
NasdaqGS:SBAC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 5.5%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 6.6%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*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
Raw Data
NasdaqGS:SBAC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:SBAC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 2,489 1,310 404 2
2022-12-31 2,365 1,214 329 3
2021-12-31 2,237 1,115 314 7
2020-12-31 2,118 1,033 239 14
2019-12-31 2,001 940 145 13
NasdaqGS:SBAC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 1,945 892 131
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

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • SBA Communications's earnings are expected to grow significantly at over 20% yearly.
  • SBA Communications's revenue is expected to grow by 5.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:SBAC 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 14 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.

NasdaqGS:SBAC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 3.61 4.03 3.19 2.00
2022-12-31 2.93 3.31 2.55 2.00
2021-12-31 2.83 4.14 2.18 6.00
2020-12-31 2.11 2.91 1.50 11.00
2019-12-31 1.25 1.39 1.11 12.00
NasdaqGS:SBAC Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 1.16
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

*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.
X
Future performance checks
We assess SBA Communications's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
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
Below we compare SBA Communications's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • SBA Communications has delivered over 20% year on year earnings growth in the past 5 years.
  • SBA Communications's 1-year earnings growth exceeds its 5-year average (323.7% vs 51%)
  • SBA Communications's earnings growth has exceeded the US REITs industry average in the past year (323.7% vs 16.9%).
Earnings and Revenue History
SBA Communications's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from SBA Communications Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:SBAC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 1,944.51 131.26 176.20
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

*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).
X
Past performance checks
We assess SBA Communications's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
SBA Communications has a total score of 5/6, 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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of SBA Communications's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • 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.
Raw Data

All data from SBA Communications Company Filings, last reported 1 month ago.

NasdaqGS:SBAC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 -3,339.35 9,744.21 101.84
2019-03-31 -3,302.78 9,738.35 117.61
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
  • 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 (9.2%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.5x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess SBA Communications's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. SBA Communications has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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
Dividend payments
0.57%
Current annual income from SBA Communications dividends. Estimated to be 0.54% next year.
If you bought $2,000 of SBA Communications shares you are expected to receive $11 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • SBA Communications's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).
  • SBA Communications's dividend is below the markets top 25% of dividend payers in United States of America (3.84%).
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.
Raw Data
NasdaqGS:SBAC Annualized Past and Future Dividends
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 14 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 183 Stocks 3.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2010 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 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:SBAC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 3.07 1.00
2022-12-31 2.64 2.00
2021-12-31 2.21 5.00
2020-12-31 1.34 9.00
2019-12-31 0.58 9.00
NasdaqGS:SBAC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-08-06 1.480 0.581

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SBA Communications is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.
  • SBA Communications is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of SBA Communications's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of SBA Communications's dividends as it is not paying a notable one for United States of America.
Future Payout to shareholders
  • No need to calculate the sustainability of SBA Communications's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess SBA Communications's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. 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)
  7. SBA Communications has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of SBA Communications's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jeff Stoops
COMPENSATION $8,205,344
AGE 61
TENURE AS CEO 17.6 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, both up more than 20%.
  • Insufficient data for Jeff to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the SBA Communications management team in years:

12.3
Average Tenure
54
Average Age
  • 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

TITLE
Founder & Chairman
COMPENSATION
$282K
AGE
58

Jeff Stoops

TITLE
President
COMPENSATION
$8M
AGE
61
TENURE
17.6 yrs

Brendan Cavanagh

TITLE
Executive VP & CFO
COMPENSATION
$3M
AGE
47
TENURE
10.9 yrs

Tom Hunt

TITLE
Executive VP
COMPENSATION
$3M
AGE
61
TENURE
12.3 yrs

Kurt Bagwell

TITLE
Executive VP & President of International
COMPENSATION
$4M
AGE
54
TENURE
17.6 yrs

Jason Silberstein

TITLE
Executive Vice President of Site Leasing
COMPENSATION
$3M
AGE
50
TENURE
10.5 yrs

Mark Ciarfella

TITLE
Executive Vice President of Operations
AGE
53
TENURE
5.6 yrs

Brian Lazarus

TITLE
Senior VP & Chief Accounting Officer
AGE
47
TENURE
10.9 yrs

Jorge Grau

TITLE
Chief Information Officer & Senior VP
AGE
56
TENURE
13.6 yrs

Bill Bates

TITLE
Vice President of Business Development
TENURE
17.8 yrs
Board of Directors Tenure

Average tenure and age of the SBA Communications board of directors in years:

12.4
Average Tenure
60.5
Average Age
  • 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

TITLE
President
COMPENSATION
$8M
AGE
61
TENURE
20 yrs

Jack Langer

TITLE
Lead Independent Director
COMPENSATION
$280K
AGE
70
TENURE
5.6 yrs

Steven Bernstein

TITLE
Founder & Chairman
COMPENSATION
$282K
AGE
58
TENURE
30.6 yrs

Duncan Cocroft

TITLE
Director
COMPENSATION
$260K
AGE
75
TENURE
15 yrs

George Krouse

TITLE
Director
COMPENSATION
$250K
AGE
73
TENURE
9.8 yrs

Brian Carr

TITLE
Director
COMPENSATION
$240K
AGE
57
TENURE
15.3 yrs

Kevin Beebe

TITLE
Director
COMPENSATION
$240K
AGE
60
TENURE
9.8 yrs

Mary Shio Chan

TITLE
Director
COMPENSATION
$240K
AGE
56
TENURE
4.3 yrs
Who owns this company?
Recent Insider Trading
  • SBA Communications individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
16. Aug 19 Sell George Krouse Individual 14. Aug 19 14. Aug 19 -620 $258.26 $-160,121
13. Aug 19 Sell Kurt Bagwell Individual 12. Aug 19 12. Aug 19 -17,055 $254.72 $-4,344,250
07. Jun 19 Sell Jeffrey Stoops Individual 05. Jun 19 05. Jun 19 -37,847 $220.31 $-8,283,570
31. May 19 Sell Duncan Cocroft Individual 30. May 19 30. May 19 -6,453 $209.71 $-1,353,259
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
X
Management checks
We assess SBA Communications's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. 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

Don't Ignore The Fact That This Insider Just Sold Some Shares In SBA Communications Corporation (NASDAQ:SBAC)

Check out our latest analysis for SBA Communications The Last 12 Months Of Insider Transactions At SBA Communications Over the last year, we can see that the biggest insider sale was by the Executive VP, Thomas Hunt, for US$14m worth of shares, at about US$173 per share. … In the last twelve months insiders netted US$48m for 257k shares sold. … NasdaqGS:SBAC Recent Insider Trading, August 16th 2019 Insider Ownership of SBA Communications I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders.

Simply Wall St -

SBA Communications Corporation (NASDAQ:SBAC): Immense Growth Potential?

Generally, it seems that analyst forecasts are fairly optimistic, as a 46% increase in profits is expected in the upcoming year, though this is relatively lower than the previous 5-year average earnings growth of 51%. … To reduce the year-on-year volatility of analyst earnings forecast, I've inserted a line of best fit through the expected earnings figures to determine the annual growth rate from the slope of the line. … NasdaqGS:SBAC Past and Future Earnings, August 15th 2019 From the current net income level of US$47m and the final forecast of US$116m by 2022, the annual rate of growth for SBAC’s earnings is 26%.

Simply Wall St -

Why You Shouldn't Look At SBA Communications Corporation's (NASDAQ:SBAC) Bottom Line

Below, I'll look at a few important metrics to keep in mind as part of your research on SBAC. … Take a look at our free research report of analyst consensus for SBAC’s outlook. … The intrinsic value infographic in our free research report helps visualize whether SBAC is currently mispriced by the market.

Simply Wall St -

Who Has Been Selling SBA Communications Corporation (NASDAQ:SBAC) Shares?

So before you buy or sell SBA Communications Corporation (NASDAQ:SBAC), you may well want to know whether insiders have been buying or selling. … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' Check out our latest analysis for SBA Communications SBA Communications Insider Transactions Over The Last Year In the last twelve months, the biggest single sale by an insider was when the Executive VP, Thomas Hunt, sold US$14m worth of shares at a price of US$173 per share. … SBA Communications Insiders Are Selling The Stock Over the last three months, we've seen significant insider selling at SBA Communications.

Simply Wall St -

Is It Time To Consider Buying SBA Communications Corporation (NASDAQ:SBAC)?

The company's stock saw a decent share price growth in the teens level on the NASDAQGS over the last few months. … According to my valuation model, SBA Communications seems to be fairly priced at around 6.0% below my intrinsic value, which means if you buy SBA Communications today, you’d be paying a reasonable price for it. … SBAC’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

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 -

Should 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 -

Can 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 -

Have 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 -

Is 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 -

Company 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
$29,440,247,253
113,105,564
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
Staff numbers
1,347
SBA Communications employees.
Industry
Specialized REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/08/18 23:47
End of day share price update: 2019/08/16 00:00
Last estimates confirmation: 2019/08/14
Last earnings filing: 2019/08/06
Last earnings reported: 2019/06/30
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.