SBA COMMUNICATIONS CORP
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $2.8B | $2.7B | $2.7B | $2.6B | $2.3B |
| Cost of revenue | $199.0M | $118.7M | $139.9M | $223.0M | $159.1M |
| Gross profit | $2.1B | $2.1B | $2.1B | $2.0B | $1.8B |
| Selling, general & administrative | $277.6M | $258.8M | $267.9M | $261.9M | $220.0M |
| Operating income | $1.3B | $1.4B | $923.7M | $925.4M | $782.5M |
| Pretax income | $1.2B | $772.7M | $548.5M | $525.8M | $252.6M |
| Income tax expense | $187.6M | $24.0M | $51.1M | $66.0M | $14.9M |
| Net income | $1.1B | $749.5M | $501.8M | $461.4M | $237.6M |
| Balance Sheet | |||||
| Cash and equivalents | $264.6M | $189.8M | $208.5M | $143.7M | $367.3M |
| Current assets | $773.4M | $2.0B | $484.3M | $482.7M | $614.4M |
| Total assets | $11.6B | $11.4B | $10.2B | $10.6B | $9.8B |
| Current liabilities | $2.7B | $1.8B | $1.4B | $696.8M | $616.3M |
| Stockholders' equity | -$4.9B | -$5.1B | -$5.2B | -$5.3B | -$5.3B |
| Cash Flow Statement | |||||
| Cash from operations | $1.3B | $1.3B | $1.5B | $1.3B | $1.2B |
| Depreciation and amortization | $292.3M | $269.5M | $716.3M | $707.6M | $700.2M |
| Stock-based compensation | $75.7M | $74.4M | $87.9M | $99.9M | $84.4M |
| Capital expenditure | $224.8M | $228.1M | $236.7M | $214.4M | $133.7M |
| Free cash flow | $1.1B | $1.1B | $1.3B | $1.1B | $1.1B |
| Dividends paid | $479.0M | $424.2M | $370.0M | $306.8M | $253.6M |
| Share repurchases | $497.8M | $200.0M | $100.0M | $431.7M | $582.6M |
| Impairments | $184.2M | $107.9M | $169.4M | $43.2M | $33.0M |
Shares outstanding 106.1M · Free float 93.9%
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.