SBA Communications owns and operates almost 40,000 cell towers throughout North America, South America, and Africa. It leases space on its towers to wireless service providers, who install equipment on the towers to support their wireless networks. The company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company owns more than 17,000 towers in the U.S., which accounted for about 70% of the company's total revenue in 2023. Internationally, SBA's greatest presence is in Brazil, where it operates roughly 10,000 towers. SBA operates as a real estate investment trust, or REIT.

Financial Strength

2/10

Name	Current	Vs Industry
Cash-To-Debt	0.01
Equity-to-Asset	-0.51
Debt-to-Equity	-2.8
Debt-to-EBITDA	8.5
Interest Coverage	2.56
Piotroski F-Score	7/9	0 1 2 3 4 5 6 7 8 9
Altman Z-Score	0.29	Distress Grey Safe
Beneish M-Score	-3.15	Manipulator Not Manipulator
WACC vs ROIC		WACC ROIC

Growth Rank

10/10

	Name	Current	Vs Industry		Vs History
	3-Year Revenue Growth Rate	10.7
	3-Year EBITDA Growth Rate	17.3
	3-Year EPS without NRI Growth Rate	106.9
	3-Year FCF Growth Rate	11
	3-Year Book Growth Rate	-2.9
	Future 3-5Y EPS without NRI Growth Rate	12.9
	Future 3-5Y Total Revenue Growth Rate	4

Momentum Rank

5/10

	Name	Current	Vs Industry		Vs History
	5-Day RSI	30.4
	9-Day RSI	31.58
	14-Day RSI	34.02
	6-1 Month Momentum %	3.82
	12-1 Month Momentum %	-14.38

Liquidity Ratio

	Name	Current	Vs Industry		Vs History
	Current Ratio	0.36
	Quick Ratio	0.36
	Cash Ratio	0.15
	Days Sales Outstanding	23.39
	Days Payable	28.7

Dividend & Buy Back

	Name	Current	Vs Industry		Vs History
	Dividend Yield %	1.76
	Dividend Payout Ratio	0.57
	3-Year Dividend Growth Rate	22.3
	Forward Dividend Yield %	1.96
	5-Year Yield-on-Cost %	1.76
	3-Year Average Share Buyback Ratio	0.5
	Shareholder Yield %	2.12

Profitability Rank

9/10

	Name	Current	Vs Industry		Vs History
	Gross Margin %	77.41
	Operating Margin %	41.11
	Net Margin %	18.51
	FCF Margin %	48.23
	ROE %	Neg. Equity
	ROA %	4.8
	ROIC %	9.54
	ROC (Joel Greenblatt) %	15.04
	ROCE %	10.23
	Years of Profitability over Past 10-Year	8

GF Value Rank

8/10

	Name	Current	Vs Industry		Vs History
	Price-to-FFO	15.58
	PE Ratio	42.57
	Forward PE Ratio	39.66
	PE Ratio without NRI	32.63
	Shiller PE Ratio	145.36
	Price-to-Owner-Earnings	18.39
	PEG Ratio	2.99
	PS Ratio	7.87
	Price-to-Free-Cash-Flow	16.34
	Price-to-Operating-Cash-Flow	13.88
	EV-to-EBIT	36.19
	EV-to-Forward-EBIT	31.65
	EV-to-EBITDA	20.95
	EV-to-Forward-EBITDA	19.63
	EV-to-Revenue	13.14
	EV-to-Forward-Revenue	13.25
	EV-to-FCF	27.25
	Price-to-Projected-FCF	3.01
	Price-to-DCF (Earnings Based)	1.04
	Price-to-DCF (FCF Based)	0.71
	Price-to-Median-PS-Value	0.72
	Price-to-Peter-Lynch-Fair-Value	2.7
	Earnings Yield (Greenblatt) %	2.76
	FCF Yield %	6.17
	Forward Rate of Return (Yacktman) %	16.76

GF Value: $351.76

SBAC

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