NasdaqGS:SBAC

Stock Analysis Report

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.

Snowflake

Fundamentals

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


Market Performance


7 Day Return

2.1%

SBAC

1.2%

US REITs

1.0%

US Market


1 Year Return

60.1%

SBAC

22.9%

US REITs

8.0%

US Market

Return vs Industry: SBAC exceeded the US REITs industry which returned 22.9% over the past year.

Return vs Market: SBAC exceeded the US Market which returned 8% over the past year.


Shareholder returns

SBACIndustryMarket
7 Day2.1%1.2%1.0%
30 Day-4.3%2.6%-0.07%
90 Day5.4%7.9%-1.0%
1 Year60.3%60.1%28.1%22.9%10.4%8.0%
3 Year113.7%113.4%37.1%19.9%46.2%36.7%
5 Year119.2%118.9%65.8%30.7%64.3%46.2%

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

Valuation

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

0.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SBAC ($245.83) is trading below our estimate of fair value ($246.98)

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 (212.6x) compared to the REITs industry average (37.2x).

PE vs Market: SBAC is poor value based on its PE Ratio (212.6x) compared to the US market (17.6x).


Price to Earnings Growth Ratio

PEG Ratio: SBAC is poor value based on its PEG Ratio (8.6x)


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 15 analysts?

24.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SBAC's forecast earnings growth (24.8% per year) is above the savings rate (2.7%).

Earnings vs Market: SBAC's earnings (24.8% per year) are forecast to grow faster than the US market (14.5% per year).

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

Revenue vs Market: SBAC's revenue (5.9% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: SBAC's revenue (5.9% 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?

51.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SBAC has become profitable over the past 5 years, growing earnings by 51% per year.

Accelerating Growth: SBAC's earnings growth over the past year (323.7%) exceeds its 5-year average (51% per year).

Earnings vs Industry: SBAC earnings growth over the past year (323.7%) exceeded the REITs industry 16.9%.


Return on Equity

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


Return on Assets

ROA vs Industry: SBAC has a higher Return on Assets than the REITs industry average last year.


Return on Capital Employed

ROCE Improving: SBAC has significantly improved its Return on Capital Employed over the past 3 years.


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.


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?

0.60%

Current Dividend Yield


Dividend Yield vs Market

company0.6%marketbottom25%1.4%markettop25%3.7%industryaverage3.6%forecastin3Years0.6%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: SBAC's dividend (0.6%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: SBAC's dividend (0.6%) is low compared to the top 25% of dividend payers in the US market (3.68%).

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

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

11.1yrs

Average management tenure


CEO

Jeff Stoops (61yo)

17.8yrs

Tenure

US$8,205,344

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 ($USD0.00) is too low to compare against companies of similar size in the US market ($USD11.18M).

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


Management Age and Tenure

11.1yrs

Average Tenure

54yo

Average Age

Experienced Management: SBAC's management team is seasoned and experienced (11.1 years average tenure).


Board Age and Tenure

12.6yrs

Average Tenure

60.5yo

Average Age

Experienced Board: SBAC's board of directors are seasoned and experienced ( 12.6 years average tenure).


Insider Trading

Insider Buying: SBAC insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$863,96821 Aug 19
Jack Langer
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares3,302
Max PriceUS$261.65
SellUS$160,12116 Aug 19
George Krouse
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares620
Max PriceUS$258.26
SellUS$4,344,25013 Aug 19
Kurt Bagwell
EntityIndividual
Role
Unit President
Executive VP & President of International
Shares17,055
Max PriceUS$254.72
SellUS$8,283,57007 Jun 19
Jeffrey Stoops
EntityIndividual
Role
Chief Executive Officer
President
Shares37,847
Max PriceUS$220.31
SellUS$1,353,25931 May 19
Duncan Cocroft
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares6,453
Max PriceUS$209.71
SellUS$144,55010 May 19
Brian Carr
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares700
Max PriceUS$206.50
SellUS$840,50319 Mar 19
Jason Silberstein
EntityIndividual
Role
Senior Key Executive
Executive Vice President of Site Leasing
Shares4,404
Max PriceUS$190.85
SellUS$1,296,87812 Mar 19
Kurt Bagwell
EntityIndividual
Role
Unit President
Executive VP & President of International
Shares7,000
Max PriceUS$186.70
SellUS$5,525,34807 Mar 19
Steven Bernstein
EntityIndividual
Role
Chairman of the Board
Founder & Chairman
Shares30,241
Max PriceUS$182.92
SellUS$2,155,51521 Nov 18
Duncan Cocroft
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares12,543
Max PriceUS$171.85
SellUS$13,781,42020 Nov 18
Thomas Hunt
EntityIndividual
Role
Chief Administrative Officer
Executive VP
Shares79,908
Max PriceUS$173.18
SellUS$3,629,39520 Nov 18
Brendan Cavanagh
EntityIndividual
Role
Chief Financial Officer
Executive VP & CFO
Shares21,047
Max PriceUS$173.46
SellUS$42,82313 Nov 18
Brian Carr
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares249
Max PriceUS$171.98
SellUS$6,868,80610 Nov 18
Calculated Risk Partners L.P.
EntityCompany
Shares40,000
Max PriceUS$171.93
SellUS$6,818,80010 Nov 18
Jeffrey Stoops
EntityIndividual
Role
Chief Executive Officer
President
Shares40,000
Max PriceUS$170.47

Ownership Breakdown


Management Team

  • Steven Bernstein (58yo)

    Founder & Chairman

    • Tenure: 30.8yrs
    • Compensation: US$281.91k
  • Jeff Stoops (61yo)

    President

    • Tenure: 17.8yrs
    • Compensation: US$8.21m
  • Tom Hunt (61yo)

    Executive VP

    • Tenure: 12.4yrs
    • Compensation: US$3.48m
  • Kurt Bagwell (54yo)

    Executive VP & President of International

    • Tenure: 9yrs
    • Compensation: US$3.55m
  • Jason Silberstein (50yo)

    Executive Vice President of Site Leasing

    • Tenure: 10.7yrs
    • Compensation: US$2.62m
  • Brendan Cavanagh (47yo)

    Executive VP & CFO

    • Tenure: 11.1yrs
    • Compensation: US$3.13m
  • Jorge Grau (56yo)

    Chief Information Officer & Senior VP

    • Tenure: 13.8yrs
  • Brian Lazarus (47yo)

    Senior VP & Chief Accounting Officer

    • Tenure: 11.1yrs
  • Mark Ciarfella (53yo)

    Executive Vice President of Operations

    • Tenure: 5.8yrs
  • Bill Bates

    Vice President of Business Development

    • Tenure: 17.9yrs

Board Members

  • Steven Bernstein (58yo)

    Founder & Chairman

    • Tenure: 30.8yrs
    • Compensation: US$281.91k
  • Jeff Stoops (61yo)

    President

    • Tenure: 17.8yrs
    • Compensation: US$8.21m
  • Kevin Beebe (60yo)

    Independent Director

    • Tenure: 10yrs
    • Compensation: US$240.24k
  • Brian Carr (57yo)

    Independent Director

    • Tenure: 15.4yrs
    • Compensation: US$240.24k
  • Jack Langer (70yo)

    Lead Independent Director

    • Tenure: 5.8yrs
    • Compensation: US$280.24k
  • Duncan Cocroft (75yo)

    Independent Director

    • Tenure: 15.2yrs
    • Compensation: US$260.24k
  • Mary Shio Chan (56yo)

    Independent Director

    • Tenure: 4.4yrs
    • Compensation: US$240.24k
  • George Krouse (73yo)

    Independent Director

    • Tenure: 10yrs
    • Compensation: US$250.24k

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$27.805b
  • Shares outstanding: 113.11m
  • Website: https://www.sbasite.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SBACNasdaqGS (Nasdaq Global Select)YesClass A Common StockUSUSDJun 1999
0KYZLSE (London Stock Exchange)YesClass A Common StockGBUSDJun 1999
SBAC *BMV (Bolsa Mexicana de Valores)YesClass A Common StockMXMXNJun 1999

Biography

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 g ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 23:39
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.