SBA Communications (SBAC) financial statements
- FY2025 revenue
- $2.8B▲ +5.1%
- FY2025 net income
- $1.1B▲ +40.6%
- FY2025 diluted EPS
- $9.80▲ +41.2%
- FY2025 free cash flow
- $1.1B▼ −3.6%
SBA Communications income statement
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Revenue | 2,815 | 2,680 | 2,712 |
| Gross profit | 2,124 | 2,098 | 2,099 |
| Operating income | 1,343 | 1,436 | 924 |
| Pretax income | 1,242 | 773 | 549 |
| Net income | 1,054 | 750 | 502 |
| Diluted earnings per share | 9.80 | 6.94 | 4.61 |
SBA Communications balance sheet
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Cash and cash equivalents | 265 | 1,401 | 209 |
| Total assets | 11,575 | 11,417 | 10,178 |
| Total liabilities (derived) | 16,350 | 16,473 | 15,314 |
| Total equity | -4,854 | -5,110 | -5,171 |
| Long-term debt | 10,964 | 12,404 | 11,681 |
SBA Communications cash flow statement
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Operating cash flow | 1,291 | 1,335 | 1,544 |
| Capital expenditure | -225 | -228 | -237 |
| Free cash flow (derived) | 1,067 | 1,107 | 1,308 |
| Dividends paid | -479 | -424 | -370 |
| Share repurchases | -498 | -200 | -100 |
Quarterly highlights
| USD millions | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 |
|---|---|---|---|---|
| Period ended | 30 Jun 2026 | 31 Mar 2026 | 31 Dec 2025 | 30 Sep 2025 |
| Revenue | 715 | 703 | 720 | 732 |
| Operating income | 352 | 343 | 299 | 374 |
| Net income | 199 | 185 | 370 | 237 |
| Diluted earnings per share | 1.87 | 1.74 | 3.47 | 2.20 |
| Operating cash flow (derived) | 407 | 255 | 304 | 318 |
| Total assets | 11,742 | 11,721 | 11,575 | 11,260 |
SBA Communications major shareholders
| Holder | Share of class | Shares | Filed |
|---|---|---|---|
| Dodge & Cox | 10.7% | 11,517,226 | 6 November 2025 |
| BlackRock, Inc. | 9.4% | 10,119,014 | 5 February 2025 |
| Vanguard Portfolio Management | 9.2% | 9,718,908 | 29 April 2026 |
| Vanguard Capital Management | 7.6% | 8,036,247 | 30 April 2026 |
SBA Communications 10-K and SEC filings
| Filed | Form | Type | Description |
|---|---|---|---|
| 25 September 2026 | 8-K | Current report | Current report |
| 6 August 2026 | 10-Q | Quarterly report | Quarterly report |
| 3 August 2026 | 8-K | Current report | Current report |
| 24 July 2026 | 8-K | Current report | Current report |
| 23 July 2026 | 8-K | Current report | Current report |
| 15 July 2026 | 8-K | Current report | Current report |
| 22 May 2026 | 8-K | Current report | Current report |
| 5 May 2026 | 10-Q | Quarterly report | Quarterly report |
Common questions
What was SBA Communications' revenue in fiscal 2025?
SBA Communications reported $2.8 billion in revenue for fiscal 2025, the year ended 31 December 2025, up 5.1% from fiscal 2024.
What was SBA Communications' net income in fiscal 2025?
SBA Communications reported net income of $1.1 billion for fiscal 2025, the year ended 31 December 2025, up 40.6% from fiscal 2024. Diluted earnings per share were $9.80.
What was SBA Communications' free cash flow in fiscal 2025?
SBA Communications had $1.1 billion in free cash flow in fiscal 2025. Operating cash flow was $1.3 billion and capital expenditure was $225 million.
What were SBA Communications' total assets at the end of fiscal 2025?
SBA Communications reported total assets of $11.6 billion at the end of fiscal 2025, the year ended 31 December 2025.
How much SBA Communications history does each plan include?
Free covers the last 3 fiscal years of annual figures. Basic covers the last 10 fiscal years, annual and quarterly. Pro covers the full history, with first reported values and as of dates.
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