SBA Communications Corporation SBAC
SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 46,000 communications sites throughout the Americas and in Africa, SBA is listed on NASDAQ under the symbol SBAC. Our organization is part of the S P 500 and one of the top Real Estate Investment Trusts (REITs) by market capitalization.
Snapshot
Reported FFO / AFFO / leverage are from the Q1 2026 earnings release (filed 2026-04-29) — 8-K, EX-99.1.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $2.82B | $1.05B | $476.45M | $2.19B | $1.29B |
| 2024 | $2.68B | $749.54M | $269.52M | $1.79B | $1.33B |
| 2023 | $2.71B | $501.81M | $716.31M | $1.79B | $1.54B |
| 2022 | $2.63B | $461.43M | $707.58M | $1.68B | $1.29B |
| 2021 | $2.31B | $237.62M | $700.16M | $1.51B | $1.19B |
| 2020 | $2.08B | $24.10M | $721.97M | $1.39B | $1.13B |
Dividends
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-05-22 | 2026-05-22 | 2026-06-17 | 2026-04-28 | $1.25 | Quarterly |
| 2026-03-13 | 2026-03-13 | 2026-03-27 | 2026-02-25 | $1.25 | Quarterly |
| 2025-11-13 | 2025-11-13 | 2025-12-11 | 2025-11-02 | $1.11 | Quarterly |
| 2025-08-21 | 2025-08-21 | 2025-09-18 | 2025-08-03 | $1.11 | Quarterly |
| 2025-05-22 | 2025-05-22 | 2025-06-17 | 2025-04-28 | $1.11 | Quarterly |
| 2025-03-13 | 2025-03-13 | 2025-03-27 | 2025-02-24 | $1.11 | Quarterly |
| 2024-11-14 | 2024-11-14 | 2024-12-12 | 2024-10-27 | $0.98 | Quarterly |
| 2024-08-22 | 2024-08-22 | 2024-09-18 | 2024-07-29 | $0.98 | Quarterly |
| 2024-05-22 | 2024-05-23 | 2024-06-19 | 2024-04-29 | $0.98 | Quarterly |
| 2024-03-13 | 2024-03-14 | 2024-03-28 | 2024-02-26 | $0.98 | Quarterly |
| 2023-11-15 | 2023-11-16 | 2023-12-14 | 2023-11-02 | $0.85 | Quarterly |
| 2023-08-23 | 2023-08-24 | 2023-09-20 | 2023-07-31 | $0.85 | Quarterly |
| 2023-05-25 | 2023-05-26 | 2023-06-21 | 2023-05-01 | $0.85 | Quarterly |
| 2023-03-09 | 2023-03-10 | 2023-03-24 | 2023-02-21 | $0.85 | Quarterly |
| 2022-11-16 | 2022-11-17 | 2022-12-15 | 2022-10-31 | $0.71 | Quarterly |
| 2022-08-24 | 2022-08-25 | 2022-09-20 | 2022-08-01 | $0.71 | Quarterly |
| 2022-05-18 | 2022-05-19 | 2022-06-14 | 2022-04-25 | $0.71 | Quarterly |
| 2022-03-09 | 2022-03-10 | 2022-03-25 | 2022-02-28 | $0.71 | Quarterly |
| 2021-11-17 | 2021-11-18 | 2021-12-16 | 2021-11-01 | $0.58 | Quarterly |
| 2021-08-25 | 2021-08-26 | 2021-09-23 | 2021-08-02 | $0.58 | Quarterly |
| 2021-05-19 | 2021-05-20 | 2021-06-15 | 2021-04-26 | $0.58 | Quarterly |
| 2021-03-09 | 2021-03-10 | 2021-03-26 | 2021-02-22 | $0.58 | Quarterly |
| 2020-11-18 | 2020-11-19 | 2020-12-17 | 2020-11-02 | $0.47 | Quarterly |
| 2020-08-24 | 2020-08-25 | 2020-09-22 | 2020-08-03 | $0.47 | Quarterly |
Coverage (payout of operating cash flow): 41.64%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.