SBA CommunicationsSBACEarnings & Financial Report
SBA Communications Corporation is a real estate investment trust which owns and operates wireless infrastructure in the United States, Canada, Central America, South America, and South Africa. It was founded in 1989 as Steven Bernstein and Associates by Steven Bernstein.
Revenue
$693.7M
Gross Profit
$541.6M
Operating Profit
$382.3M
Net Profit
$173.6M
Gross Margin
78.1%
Operating Margin
55.1%
Net Margin
25.0%
YoY Growth
2.8%
EPS
$1.61
Financial Flow
SBA Communications Q4 2024 Financial Summary
SBA Communications reported revenue of $693.7M for Q4 2024, with a net profit of $173.6M (25.0% margin). Cost of goods sold was $152.1M, operating expenses totaled $159.2M.
Key Financial Metrics
| Total Revenue | $693.7M |
|---|---|
| Net Profit | $173.6M |
| Gross Margin | 78.1% |
| Operating Margin | 55.1% |
| Report Period | Q4 2024 |
SBA Communications Annual Revenue by Year
SBA Communications annual revenue history includes year-by-year totals (for example, 2024 revenue was $799.2M).
| Year | Annual Revenue |
|---|---|
| 2024 | $799.2M |
| 2023 | $830.7M |
| 2022 | $906.5M |
Income Statement
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $675.0M | $29.6M | $34.0M | $41.9M | $693.7M | $48.0M | $67.2M | $75.9M |
| YoY Growth | -1.6% | -49.2% | -35.0% | -7.1% | 2.8% | 62.4% | 97.5% | 81.2% |
Balance Sheet
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $10.18B | $10.00B | $9.79B | $10.20B | $11.42B | $10.44B | $10.77B | $11.26B |
| Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | $-5.17B | $-5.22B | $-5.32B | $-5.17B | $-5.11B | $-4.97B | $-4.94B | $-4.93B |
Cash Flow
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $432.6M | $294.5M | $425.6M | $304.7M | $310.2M | $301.2M | $368.1M | $318.0M |
Other Real Estate Companies
AMT
American Tower
Revenue
$246.4M
Net Profit
N/A
CCI
Crown Castle
Revenue
$60.0M
Net Profit
$323.0M
ARE
Alexandria Real Estate Equities
Revenue
$754.4M
Net Profit
$-1.1B
AVB
AvalonBay Communities
Revenue
$1.9M
Net Profit
$381.3M
BXP
BXP, Inc.
Revenue
$871.5M
Net Profit
$-121.7M
CPT
Camden Property Trust
Revenue
$5.3M
Net Profit
$156.0M
CBRE
CBRE Group
Revenue
$11.5B
Net Profit
$416.0M
CSGP
CoStar Group
Revenue
$833.6M
Net Profit
$-30.9M
DLR
Digital Realty
Revenue
$1.6B
Net Profit
$98.6M
EQIX
Equinix
Revenue
$2.4B
Net Profit
$265.0M