Income StatementBalance SheetCash FlowSegments
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SBA Communications Business Segments

Business, geographic, and product segment breakdowns

SBA Communications generates $2.9B in annual revenue across 3 key segments: Domestic Site Leasing Revenue ($281.6M), International Site Leasing Revenue ($226.9M), and Site Development Construction ($200.2M). The company-wide operating margin is 47.32%. Based on the Q1 2026 filing.

Domestic Site Leasing Revenue (TTM)$281.6MInternational Site Leasing Revenue (TTM)$226.9MSite Development Construction (TTM)$200.2M
Latest FilingQ1 2026
Report Date2026-05-05
Market Cap$21.6B
P/E Ratio21.19
ROE-20.94%

Products & Services

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Concentration Risk %1.3%1.3%1.3%1.3%1.3%—

Geographic

Concentration Risk %

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Foreign Countries Other Than Brazil—5.0%———5.0%

Company Owned Tower Sites

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International5571.257233.507233.507233.507233.50—

Non-Current Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other International————$2.0B$2.0B

Business Segments

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Domestic Site Leasing Revenue$6.2B$6.2B$6.2B$6.2B$6.2B$6.2B
International Site Leasing Revenue$3.4B$3.6B$4.3B$4.6B$5.2B$5.2B
All Other Segments$1.7B$523.0M$143.9M$286.6M$114.8M$223.0M
Site Development Construction$65.5M$75.6M$93.5M$104.8M$98.1M$78.1M

Depreciation Amortization And Accretion Net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International Site Leasing Revenue$26.2M$25.5M$30.2M$36.8M$39.6M$41.2M
Domestic Site Leasing Revenue$36.2M$36.7M$36.8M$37.1M$37.5M$37.6M
All Other Segments$1.9M$1.9M$2.0M$2.1M$2.1M$1.6M
Site Development Construction$793.0K$857.0K$864.0K$960.0K$1.2M$903.0K

Nonoperating Income Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
All Other Segments-$226.5M-$75.0M-$74.0M-$85.1M—-$106.8M

Operating Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Domestic Site Leasing Revenue$326.5M$303.9M$307.4M$309.5M$245.1M$278.2M
International Site Leasing Revenue$64.7M$42.2M$35.5M$72.7M$69.1M$80.4M
All Other Segments-$15.7M-$17.0M-$17.8M-$17.1M-$19.4M-$18.9M
Site Development Construction$6.8M$5.8M$9.7M$9.0M$4.1M$3.2M

Segment Expenditure Addition To Long Lived Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International Site Leasing Revenue—$66.3M———$129.3M
Domestic Site Leasing Revenue—$42.4M———$59.6M
All Other Segments—$895.0K———$2.9M
Site Development Construction—$826.0K———$432.0K

SG&A Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Domestic Site Leasing Revenue$32.6M$31.0M$31.5M$30.9M$36.0M$31.4M
International Site Leasing Revenue$17.8M$17.4M$20.8M$16.7M$17.9M$18.3M
All Other Segments$13.4M$14.6M$15.6M$15.0M$17.1M$17.3M
Site Development Construction$3.8M$3.2M$3.1M$3.4M$3.3M$3.6M

Asset Impairment And Decommission Costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Domestic Site Leasing Revenue$4.7M$15.2M$20.0M$18.2M$69.1M$27.0M
International Site Leasing Revenue$14.9M$21.3M$25.1M$2.1M$12.3M$2.1M
Site Development Construction—————$198.0K

Business Combination Acquisition Related Costs And Adjusments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Domestic Site Leasing Revenue$3.1M$5.9M$4.7M$4.3M$5.5M$5.5M
International Site Leasing Revenue$3.5M$1.5M$1.2M$861.0K$3.4M$2.6M

Cost of Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Domestic Site Leasing Revenue$68.8M$68.3M$69.4M$70.3M$71.3M$70.6M
International Site Leasing Revenue$47.3M$47.2M$49.2M$57.0M$59.4M$61.3M
Site Development Construction$36.0M$38.2M$53.5M$62.5M$44.8M$39.4M

Gross Profit

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Domestic Site Leasing Revenue$403.1M$392.7M$400.4M$400.0M$393.3M$379.7M
International Site Leasing Revenue$127.2M$108.0M$112.8M$129.1M$142.3M$144.6M
Site Development Construction$11.3M$9.9M$13.7M$13.4M$8.6M$7.9M

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Domestic Site Leasing Revenue$471.9M$461.0M$469.8M$470.3M$464.6M$450.3M
International Site Leasing Revenue$174.5M$155.2M$162.0M$186.2M$201.7M$205.8M
Site Development Construction$47.4M$48.0M$67.2M$75.9M$53.4M$47.3M

Concentration Risk %

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International Site Leasing Revenue5.3%4.9%4.9%4.9%4.9%—

Accounts Receivable

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Site Development Consulting$26.4M———$48.3M—