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SBA Communications Balance Sheet Statement

Assets, liabilities, and shareholders' equity

SBA Communications holds $11.7B in total assets. Shareholders' equity is -$4.8B against $13.0B in total debt. Cash and equivalents total $332.5M. The current ratio is 0.229 and debt-to-equity is -2.73. Based on the Q1 2026 filing.

Total Assets$11.7BTotal Stockholders Equity-$4.8BLong Term Debt$10.3BCash And Equivalents$332.5MTotal Current Assets$767.5MTotal Current Liabilities$3.3B
Latest FilingQ1 2026
Report Date2026-05-05
Market Cap$21.6B
P/E Ratio21.19
ROE-20.94%

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts payable$59.5M$65.0M$60.8M$219.7M$73.0M$63.5M
Accrued compensation$25.0M$15.9M$18.1M$27.6M$32.8M$23.2M
Accrued expenses$14.9M$74.7M$86.1M$97.5M$93.5M$85.4M
Accrued interest$62.2M$34.7M$75.1M$37.8M$65.0M$38.8M
Other Commercial Liabilities$82.0M$74.7M$86.1M$97.5M$93.5M$85.4M
Accrued Liabilities, Current$82.0M$74.7M$86.1M$97.5M$93.5M$85.4M
Deferred income$127.3M$110.4M$125.4M$132.3M$117.3M$103.7M
Lease Liability Current$261.0M$267.5M$289.5M$291.5M$299.6M$305.0M
Other accrued liabilities$17.9M$18.8M$20.7M$59.4M$94.0M$65.8M
Current portion of long-term debt$1.2B$771.8M$772.2M$772.6M$1.9B$2.7B
Deferred revenue$5.3M$3.5M$2.7M$5.1M$7.2M$5.7M
Lease Liability Payments - 2021$1.9M———$2.9M—
Note payable to DIRECTV$17.9M$18.8M$20.7M$59.4M$94.0M$65.8M
Total current liabilities$1.8B$1.3B$1.4B$1.6B$2.7B$3.3B

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts receivable, net$145.7M$129.8M$139.9M$158.1M$171.3M$161.5M
Allowance for Doubtful Accounts$14.7M———$18.8M—
Allowance for Doubtful Accounts Receivable (Current)$14.7M———$18.8M—
Cash and cash equivalents$1.4B$664.1M$300.5M$465.4M$437.0M$332.5M
Contract assets$19.2M$26.8M$46.8M$49.6M$28.2M$23.3M
Other current assets$22.8M$25.4M$20.6M$17.7M$34.7M$38.4M
Equipment Installment Plan Receivables, Gross$59.3M$55.4M$55.4M$55.3M$3.7M$3.6M
Accrued investment income$4.4M$1.5M$2.9M$4.1M$611.0K$1.8M
Derivative assets$50.6M$16.8M$10.3M$8.3M$6.4M$11.4M
Financing Receivables$59.3M$55.4M$55.4M$55.3M$3.7M$3.6M
Income taxes receivable$11.5M$11.7M$6.1M$7.1M$26.7M$25.9M
Operating Lease Income - 2022 (Lessor)$2.1B———$2.2B—
Prepaid expenses and other current assets$417.3M$117.0M$41.1M$144.1M$141.7M$254.9M
Restricted cash$1.2B$23.2M$20.8M$30.5M$167.8M$58.8M
Restricted Marketable Securities$42.5M$42.7M$42.5M$42.4M$43.3M$43.3M
Total current assets$2.0B$933.3M$523.8M$812.5M$773.4M$767.5M

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Additional paid-in capital$3.0B$3.0B$3.0B$3.0B$3.1B$3.1B
Accumulated other comprehensive income (loss)-$760.3M-$736.6M-$711.5M-$688.1M-$664.1M-$636.7M
Common stock$400.0M$400.0M$400.0M$400.0M$400.0M$400.0M
Common Stock Par Value Per Share$0.01$0.01$0.01$0.01$0.01$0.01
Common Stock Shares Issued$107.6M$108.0M$107.5M$106.8M$105.7M$106.1M
Convertible Preferred Stock Authorized Shares$30.0M$30.0M$30.0M$30.0M$30.0M$30.0M
Convertible Preferred Stock Issued Shares$0.0$0.0$0.0$0.0$0.0$0.0
Convertible Preferred Stock Outstanding Shares000000
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively$1.1M$1.1M$1.1M$1.1M$1.1M$1.1M
Number of Exercisable Options$1.1M$612.0K$553.0K$547.0K$530.0K$23.0K
Preferred Stock Par Value Per Share$0.01$0.01$0.01$0.01$0.01$0.01
Redeemable noncontrolling interests$54.1M$62.6M$65.2M$76.6M$78.3M$85.7M
Retained earnings-$7.3B-$7.2B-$7.3B-$7.3B-$7.2B-$7.2B
Share-Based Payment Award Options Outstanding - Number$1.1M$632.0K$569.0K$563.0K$546.0K$37.0K
Share Price$203.8———$193.4—
Total liabilities and stockholders' equity$11.4B$10.4B$10.8B$11.3B$11.6B$11.7B
Total stockholders' equity-$5.1B-$5.0B-$4.9B-$4.9B-$4.9B-$4.8B
Weighted Average Exercise Price of Outstanding Options174.7186.3186.9186.9187.1251.2

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Asset retirement obligations$140.9M———$152.6M—
Debt Instrument Face Amount$13.7B$12.5B$12.6B$12.8B$13.0B$13.0B
Debt Maturity - 2027$3.0B———$1.5B—
Deferred tax liabilities————-$4.0M—
Long-term debt$12.4B$11.7B$11.7B$11.9B$11.0B$10.3B
Long-Term Debt - Fair Value$12.8B$11.7B$11.9B$12.1B$12.4B$12.5B
Other non-current liabilities$367.9M$406.2M$466.3M$554.2M$588.2M$613.5M
Secured Debt$10.7B———$10.0B—
Total noncurrent liabilities$14.7B$14.0B$14.2B$14.5B$13.7B$13.0B
Unrecognized Tax Benefits$13.9M———$14.9M—
Unrecognized Tax Benefits - Impacting Effective Tax Rate300000000.0%———0.0%—

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net loans$115.3M——$7.1M$63.8M$63.9M
Capitalized Contract Costs, Net$74.5M$84.0M$107.7M$139.5M$146.7M$150.5M
Deferred tax assets$30.9M$52.2M$47.4M$42.7M$35.7M$32.4M
Deferred Tax Assets and Other Non-Current Assets$8.1M$618.3M$641.6M$642.1M$4.2M$646.2M
Equity method investments$20.8M$18.1M$16.0M$13.5M$21.1M$21.7M
Finite-Lived Intangible Assets - Expected Amortization Expense (Year One)$106.2M———$126.1M—
Finite Lived Intangible Assets - Gross$7.1B$7.1B$7.4B$7.5B$7.7B$7.7B
Intangible assets, net$2.4B$2.4B$2.6B$2.7B$2.9B$2.9B
Long-term investments$254.5M$65.7M$1.6M$761.0K$6.6M$112.1M
Net Investment in Lease$9.7B$2.3B$2.4B$2.4B$11.5B$2.7B
Net Operating Loss Carryforwards$377.9M———$366.2M—
Acquired And Other Right Of Use Assets Net$1.3B$1.3B$1.3B$1.3B$1.3B$1.3B
Deferred Costs Leasing Net$8.8M———$10.0M—
DEFERRED RENT ASSET$417.6M$420.1M$421.9M$422.3M$424.6M$430.4M
Intangible assets — net$2.4B$2.4B$2.6B$2.7B$2.9B$2.9B
Investments$20.8M$18.1M$16.0M$13.5M$21.1M$21.7M
Operating lease right-of-use assets$2.3B$2.3B$2.4B$2.4B$2.5B$2.7B
Other non-current assets$657.1M$618.3M$641.6M$642.1M$652.0M$646.2M
Property, plant and equipment at cost$7.1B$7.1B$7.6B$7.6B$7.8B$7.8B
Short-term investment securities (includes restricted investments of consolidated variable interest entities: 2026, $85; 2025, $84)$254.5M$65.7M$1.6M$761.0K$6.6M$112.1M
Operating lease right-of-use assets$0.1$2.3B$2.4B$2.4B$2.5B$2.7B
Operating Lease Right-of-Use Assets in Other Assets$2.3B$2.3B$2.4B$2.4B$2.5B$2.7B
Other non-current assets$46.0M$46.7M$81.4M$90.3M$150.5M$137.0M
Accumulated depreciation$4.3B$4.3B$4.3B$4.3B$4.4B$4.4B
Property and equipment, net$2.8B$2.8B$3.3B$3.3B$3.4B$3.4B
Software and Technology Licenses, Net$657.1M$618.3M$641.6M$642.1M$652.0M$646.2M
Total assets$11.4B$10.4B$10.8B$11.3B$11.6B$11.7B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Nonperforming Loans and Leases Percentage$59.3M$55.4M$55.4M$55.3M$3.7M$3.6M
Cumulative Cost Basis$7.1B$7.1B$7.6B$7.6B$7.8B$7.8B
Accrued Holdbacks$10.9M$11.1M$10.0M$9.8M$3.2M$3.2M
Accounts Receivable, Allowance for Credit Loss$14.7M———$18.8M—
Capital Expenditure Accrual Current$14.6M$15.4M$12.1M$11.3M$12.3M$11.2M
Capitalized Contract Cost, Net$74.5M$84.0M$107.7M$139.5M$146.7M$150.5M
Collateral For Surety Payment And Performance Bonds$0.0$0.0$0.0$0.0$0.0$0.0
Common stock, par value (in dollars per share)$0.0$0.0$0.0$0.0$0.0$0.0
Common stock, shares authorized (in shares)$400.0M$400.0M$400.0M$400.0M$400.0M$400.0M
Common stock, shares issued (in shares)$107.6M$108.0M$107.5M$106.8M$105.7M$106.1M
Common Stock, Shares, Outstanding$107.6M$108.0M$107.5M$106.8M$105.7M$106.1M
Contract with Customer, Asset, after Allowance for Credit Loss$8.8M$9.0M$9.4M$9.7M$10.0M$9.8M
Contract With Customer Billing To Date$92.1M$95.4M$106.0M$146.2M$179.3M$188.1M
Contract With Customer Estimated Earnings$31.5M$34.7M$42.5M$51.2M$53.6M$55.2M
Contract With Customer Net Asset Liability$13.9M$23.4M$44.1M$44.5M$21.0M$17.7M
Debt issuances$13.7B$12.5B$12.6B$12.8B$13.0B$13.0B
Debt Instrument, Fair Value Disclosure$12.8B$11.7B$11.9B$12.1B$12.4B$12.5B
Deferred Costs Leasing Accumulated Amortization$1.9M———$2.1M—
Deferred Tax Assets Currency Translation$64.9M———-$3.5M—
Deferred Tax Assets, Net of Valuation Allowance$406.7M$52.2M$47.4M$42.7M$35.7M$32.4M
Deferred Tax Assets Noncash Compensation$25.8M———$18.3M—
Deferred Tax Assets Operating Lease Liability$254.5M———$282.8M—
Deferred Tax Assets, Operating Loss Carryforwards$30.9M———$25.1M—
U.S. federal, state and foreign net operating loss, credit carryforwards and other carryforwards$377.9M———$366.2M—
Deferred Tax Assets, Operating Loss Carryforwards, State and Local$225.6M———$221.5M—
Fixed assets$18.2M———$24.6M—
Accrued expenses$14.9M———$19.9M—
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Revenue$5.7M———$5.7M—
Deferred Tax Liabilities, Net$31.2M———$281.4M—
Deferred Tax Liabilities Deferred Foreign Withholding Taxes$9.0M———$23.3M—
Deferred Tax Liabilities, Other————-$4.0M—
Deferred Tax Liabilities, Property, Plant and Equipment$171.8M———$342.7M—
Deferred Tax Liabilities Right Of Use Asset$240.3M———$269.1M—
Deferred Tax Liabilities Straight Line Rent$16.9M———$17.1M—
2027$1.9M———$2.9M—
Finite-Lived Intangible Assets, Accumulated Amortization$4.7B$4.7B$4.8B$4.8B$4.8B$4.9B
2028$106.2M———$126.1M—
2030$106.2M———$126.1M—
2031$106.2M———$126.1M—
2027$106.4M———$126.2M—
2029$106.2M———$126.1M—
Gross Carrying Amount$7.1B$7.1B$7.4B$7.5B$7.7B$7.7B
Intercompany Foreign Currency Balance Amount$1.1M$1.1B$1.1B$1.0B$917.3M$917.4M
Interest receivable on interest rate and cross currency swaps$4.4M$1.5M$2.9M$4.1M$611.0K$1.8M
Lease Liability Noncurrent$1.9B$1.9B$2.0B$2.0B$2.1B$2.2B
2028$1.9B———$3.0B—
2029$3.0B———$1.5B—
2029$3.0B———$23.0M—
2030$1.5B———$3.4B—
2027$1.2B———$1.9B—
Long-Lived Assets$8.8B—$9.6B$9.8B$10.1B$10.3B
Notes And Loans Receivable Gross Current$115.3M——$7.1M$63.8M$63.9M
Other accrued liabilities$24.3M$24.9M$36.9M$39.5M$37.6M$39.5M
Performance Targets Maximum Potential Obligation$12.1M$15.8M$40.1M$47.5M$63.2M$63.2M
Preferred Stock, Par or Stated Value Per Share$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock, Shares Authorized$30.0M$30.0M$30.0M$30.0M$30.0M$30.0M
Preferred Stock, Shares Issued$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock, Shares Outstanding$0.0$0.0$0.0$0.0$0.0$0.0
Prepaid Insurance$1.7M$4.6M$4.2M$3.2M$1.8M$4.2M
Prepaid Real Estate Taxes$3.6M$3.8M$2.5M$5.3M$3.8M$3.9M
Prepaid Rent Current$3.6M$4.2M$3.2M$3.1M$3.6M$4.8M
Real Estate Accumulated Depreciation$4.3B———$4.4B—
Real Estate And Accumulated Depreciation Amount Of Encumbrances$10.7B———$10.0B—
Real Estate Gross At Carrying Value$8.2B———$8.9B—
Redeemable noncontrolling interests in subsidiaries$54.1M$62.6M$65.2M$76.6M$78.3M$85.7M
Restricted assets in fixed maturities and short-term investments$42.5M$42.7M$42.5M$42.4M$43.3M$43.3M
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number$1.1M$612.0K$553.0K$547.0K$530.0K$23.0K
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number$1.1M$632.0K$569.0K$563.0K$546.0K$37.0K
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price$174.7$186.3$186.9$186.9$187.1$251.2
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price$173.1$184.4$185.0$185.0$185.2$258.3
Share price (in dollars per share)$203.8———$193.4—
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares22000.0020000.0016000.0016000.0016000.0014000.00
Share-Based Compensation Arrangement by Share-Based Payment Award, Option, Nonvested, Weighted Average Exercise Price252.8245.2250.4250.4250.4239.2
Unrecognized tax benefits$13.9M———$14.9M—
Amount that if recognized, would affect the effective tax rate or regulatory liability$3.0M———$0.0—