SBAC
Sba Communications Corp Real Estate Real Estate Investment Trusts S&P 500Russell 3000
$187.15Close
$19.8BMarket cap
$158.02 – $220.8852-week range
Nov 2, 2026Next report · after the close
Highlights
Cautions
- Not in an uptrend 3 of 8 trend conditions
- Lagging the market RS 43 · weaker than 57% of stocks over 12 months
- Earnings shrinking EPS −11% year on year
- Results soon Nov 2, 2026, in 1 day
- Financial distress Altman Z″ in the distress zone
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
15%
1wk
up 1.3%
price change
1mo
up 16.9%
price change
12-month return
0%
market up 11% ·
its own down 10%
F-score
7 / 9
Strong
Altman Z″
-2.65
Elevated risk
P/E
18.8×
price / earnings
PEG
0.45
P/E / EPS growth
P/B
—
price / book
Earnings yield
up 4.4%
EBIT / enterprise value
Cheaper than
65%
of the market · cheap
Revenue growth
up 60%
year on year
EPS growth
down 11%
latest quarter · +4 pts
Sales growth
down 24%
latest quarter · -22 pts
ROE
—
return on equity
Free cash margin
up 436%
$1.1B FCF
D/E
—
long-term debt / equity
Net debt / EBITDA
6.5×
Interest cover
—EBIT / interest
Piotroski tests
- short-term liquidity weakened
- gross margin narrowed
- profitable on its assets
- generating cash from operations
- profitability improving
- profits backed by cash
- reduced long-term debt
- no new shares issued
- assets working harder
Repair signals
- Long-term debt down 12% ($12.4B → $11.0B)
- Revenue reaccelerating (-21% then +60%)
Trade setup
ATR%
3.4%
$6.41 a day · 2×ATR $174.33
RS
43 / 99
vs the universe
Trend
3 / 8
trend template
Relative volume
0.9×
vs 50-day average
Up/down volume
1.00
50 sessions
Implied move
9.0%
by Nov 20, 2026 · report Nov 2, 2026
Trend template · 3 of 8
- Price above the 150 and 200-day averages: fails
- 150-day average above the 200-day: passes
- 200-day average rising for a month: fails
- 50-day average above the 150 and 200-day: fails
- Price above the 50-day average: passes
- At least 30% above the 52-week low: fails
- Within 25% of the 52-week high: passes
- RS rank 70 or higher: fails
Screen verdict
Did not qualify for any screen.
Warning signs
- Liabilities exceed assets Shareholders' equity is negative at -$4.9B as of Dec 31, 2025. What is left for shareholders after creditors is, on the balance sheet, less than nothing.
- Bankruptcy model reads distressed The Altman score sits inside the range historically associated with financial distress. It is used here only to exclude, never to rank, and it is a statistical band rather than a prediction about this company.
- Heavily indebted Net debt is 6.5 times EBITDA — roughly 7 years of earnings before interest, tax and depreciation to repay borrowings in full.
- Gross margin narrowing Gross margin fell from 1372.4% to 868.8%. The company is keeping less of each dollar of sales than it did a year ago.
Last reported
Aug 3, 2026
Results reaction
Aug 3, 2026+1% vs market2 sessions after results
Options
$45,38240.3% IV · activity
Financials
- Gross 869%
- Net 431%
- Free cash 436%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $128.7M | $204.7M | $296.9M | $194.6M | $152.9M | $244.5M |
| Gross margin | 1249% | 861% | 662% | 1078% | 1372% | 869% |
| Operating income | $633.7M | $782.5M | $925.4M | $923.7M | $1.4B | $1.3B |
| Net income | $24.1M | $237.6M | $461.4M | $501.8M | $749.5M | $1.1B |
| Net margin | 19% | 116% | 155% | 258% | 490% | 431% |
| Earnings per share | $0.21 | $2.14 | $4.22 | $4.61 | $6.94 | $9.80 |
| Free cash flow | $997.5M | $1.1B | $1.1B | $1.3B | $1.1B | $1.1B |
| Free cash margin | 775% | 516% | 361% | 672% | 724% | 436% |
| Cash | $308.6M | $367.3M | $143.7M | $208.5M | $189.8M | $264.6M |
| Long-term debt | $11.1B | $12.3B | $12.8B | $11.7B | $12.4B | $11.0B |
| Shareholders' equity | -$4.8B | -$5.3B | -$5.3B | -$5.2B | -$5.1B | -$4.9B |
| Shares outstanding | 109.82m | 108.96m | 108m | 108.05m | 107.56m | 105.67m |
Next report
Nov 2, 2026 · after the close
Expected move The move, either way, the option market prices in through the next scheduled report: the at-the-money straddle for the first expiry that contains it, over the price. It includes the days around the report, so it slightly overstates the report alone. Methodology
±9.0%
$171 – $205 by Nov 20, 2026
Usual move The median, over the company's last four reports, of how far the stock moved either way from the close before the filing to the close of the session after it. Methodology
±2.2%
last 4: +3.8% · +1.7% · +2.0% · +2.5%
Expected against usual The move the options price through this report over the move the last four reports delivered. Above 1 the event is priced bigger than the company's own record; below 1, smaller. A price, not a forecast: it says what protection through the report costs, not which way the stock will go. Methodology
Bigger than usual
4.0× the usual move
What options price now
- Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
- About the same 40.3% priced · 39.9% recent
- Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
- Choppier
- Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
- past week: costs less
Positioning
- Premium traded
- $45,382 calls $33,560 · puts $11,822 · latest session
- 0.35× -5.29 over the week
- Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
- calls +188 · puts +234 past week
For options traders: ATM IV 40.3% (+8.5% 1w) · 1m ÷ 3m IV 1.24 · 25Δ skew 3.1 pts · Net GEX -$376,435
Most traded contracts
No contract passed the liquidity filters this week.
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Aug 6, 2026 | Quarterly ↗ | Jun 30, 2026 | 37d |
| May 5, 2026 | Quarterly ↗ | Mar 31, 2026 | 35d |
| Feb 27, 2026 | Annual ↗ | Dec 31, 2025 | 58d |
| Nov 6, 2025 | Quarterly ↗ | Sep 30, 2025 | 37d |
| Aug 7, 2025 | Quarterly ↗ | Jun 30, 2025 | 38d |
| May 1, 2025 | Quarterly ↗ | Mar 31, 2025 | 31d |
| Feb 26, 2025 | Annual ↗ | Dec 31, 2024 | 57d |
| Nov 1, 2024 | Quarterly ↗ | Sep 30, 2024 | 32d |
| Aug 2, 2024 | Quarterly ↗ | Jun 30, 2024 | 33d |
| May 6, 2024 | Quarterly ↗ | Mar 31, 2024 | 36d |
| Feb 28, 2024 | Annual ↗ | Dec 31, 2023 | 59d |
| Nov 7, 2023 | Quarterly ↗ | Sep 30, 2023 | 38d |
Current reports
| Filed | Disclosed |
|---|---|
| Sep 25, 2026 | New obligation ↗ |
| Aug 3, 2026 | Results ↗ |
| Jul 24, 2026 | Material agreement · Agreement ended · New obligation ↗ |
| Jul 23, 2026 | Other events ↗ |
| Jul 15, 2026 | Material agreement ↗ |
| May 22, 2026 | Shareholder vote ↗ |
| Apr 29, 2026 | Results ↗ |
| Mar 27, 2026 | Director or officer change ↗ |
| Feb 26, 2026 | Results ↗ |
| Nov 3, 2025 | Results ↗ |
| Aug 4, 2025 | Results ↗ |
| May 23, 2025 | Shareholder vote ↗ |