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

2.4%

NasdaqGS:SBAC

1.3%

US REITs

0.9%

US Market


1 Year Return

65.2%

NasdaqGS:SBAC

9.3%

US REITs

0.3%

US Market

SBAC outperformed the REITs industry which returned 8.2% over the past year.

SBAC outperformed the Market in United States of America which returned -0.5% over the past year.


Share holder returns

SBACIndustryMarket
7 Day2.4%1.3%0.9%
30 Day14.2%4.6%-1.9%
90 Day26.9%4.1%1.6%
1 Year65.2%65.2%14.2%9.3%2.6%0.3%
3 Year129.9%129.9%25.2%8.9%41.0%31.8%
5 Year137.0%137.0%60.2%26.2%55.2%38.0%

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 based on future cash flows and its price relative to the stock market?

225.55x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

SBA Communications's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

SBA Communications's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

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

SBA Communications is poor value based on expected growth next year.


Price Based on Value of Assets

SBA Communications has negative assets, we can't compare the value of its assets to the US REITs industry average.


Next Steps

Future Growth

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

26.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

SBA Communications's revenue is expected to grow by 5.5% yearly, however this is not considered high growth (20% yearly).

SBA Communications's earnings are expected to grow significantly at over 20% yearly.

SBA Communications's revenue growth is positive but not above the United States of America market average.

SBA Communications's earnings growth is expected to exceed the United States of America market average.

SBA Communications's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if SBA Communications will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


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

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%).


Return on Equity

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.


Return on Assets

SBA Communications used its assets more efficiently than the US REITs industry average last year based on Return on Assets.


Return on Capital Employed

SBA Communications has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is SBA Communications's financial position?


Financial Position Analysis

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.


Debt to Equity History and Analysis

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).


Balance Sheet

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.


Next Steps

Dividend

What is SBA Communications's current dividend yield, its reliability and sustainability?

0.54%

Expected Dividend Yield


Dividend Yield and Payments Analysis

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%).

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

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.


Next Steps

Management

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

12.3yrs

Average management tenure


CEO

Jeff Stoops (61yo)

17.6yrs

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

Insufficient data for Jeff to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.

Jeff's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

12.3yrs

Average Tenure

54yo

Average Age

The average tenure for the SBA Communications management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

12.4yrs

Average Tenure

60.5yo

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.


Insider Trading

SBA Communications individual insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$160,12116 Aug 19
George Krouse
EntityIndividual
Role
Member of the Board of Directors
Director
Shares620
Max PriceUS$258.26
SellUS$4,344,25013 Aug 19
Kurt Bagwell
EntityIndividual
Role
Senior Key Executive
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
Director
Shares6,453
Max PriceUS$209.71
SellUS$144,55010 May 19
Brian Carr
EntityIndividual
Role
Member of the Board of Directors
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
Senior Key Executive
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
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
Director
Shares249
Max PriceUS$171.98
SellUS$6,818,80010 Nov 18
Jeffrey Stoops
EntityIndividual
Role
Chief Executive Officer
President
Shares40,000
Max PriceUS$170.47
SellUS$6,868,80610 Nov 18
Calculated Risk Partners L.P.
EntityCompany
Shares40,000
Max PriceUS$171.93
SellUS$80318 Sep 18
Kurt Bagwell
EntityIndividual
Role
Senior Key Executive
Executive VP & President of International
Shares5
Max PriceUS$160.50

Ownership Breakdown


Management Team

  • Steven Bernstein (58yo)

    Founder & Chairman

    • Tenure: 30.6yrs
    • Compensation: US$281.91k
  • Jeff Stoops (61yo)

    President

    • Tenure: 17.6yrs
    • Compensation: US$8.21m
  • Tom Hunt (61yo)

    Executive VP

    • Tenure: 12.3yrs
    • Compensation: US$3.48m
  • Kurt Bagwell (54yo)

    Executive VP & President of International

    • Tenure: 17.6yrs
    • Compensation: US$3.55m
  • Jason Silberstein (50yo)

    Executive Vice President of Site Leasing

    • Tenure: 10.5yrs
    • Compensation: US$2.62m
  • Brendan Cavanagh (47yo)

    Executive VP & CFO

    • Tenure: 10.9yrs
    • Compensation: US$3.13m
  • Jorge Grau (56yo)

    Chief Information Officer & Senior VP

    • Tenure: 13.6yrs
  • Brian Lazarus (47yo)

    Senior VP & Chief Accounting Officer

    • Tenure: 10.9yrs
  • Mark Ciarfella (53yo)

    Executive Vice President of Operations

    • Tenure: 5.6yrs
  • Bill Bates

    Vice President of Business Development

    • Tenure: 17.8yrs

Board Members

  • Steven Bernstein (58yo)

    Founder & Chairman

    • Tenure: 30.6yrs
    • Compensation: US$281.91k
  • Jeff Stoops (61yo)

    President

    • Tenure: 17.6yrs
    • Compensation: US$8.21m
  • Kevin Beebe (60yo)

    Director

    • Tenure: 9.8yrs
    • Compensation: US$240.24k
  • Brian Carr (57yo)

    Director

    • Tenure: 15.3yrs
    • Compensation: US$240.24k
  • Jack Langer (70yo)

    Lead Independent Director

    • Tenure: 5.6yrs
    • Compensation: US$280.24k
  • Duncan Cocroft (75yo)

    Director

    • Tenure: 15.0yrs
    • Compensation: US$260.24k
  • Mary Shio Chan (56yo)

    Director

    • Tenure: 4.3yrs
    • Compensation: US$240.24k
  • George Krouse (73yo)

    Director

    • Tenure: 9.8yrs
    • 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$29.502b
  • 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 Analysis2019/08/19 23:49
End of Day Share Price2019/08/19 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.