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SBA Communications SBAC Q2 2025 earnings

Reported August 4, 2025 · After market close

Revenue$699.0MMiss by $2.0M
EPS$2.09Miss by $1.03
Revenue estimate$701.0M
EPS estimate$3.12

Next report

Nov 2, 2026 (in 2 months)
Revenue estimate$724.6M
EPS estimate$2.07

Financials

Q2 2025

Income statement

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Revenue$699.0M+5.8%
Gross profit$645.5M+1.9%
Operating income$334.8M-5.6%
Net income$225.8M+38.7%
EPS (diluted)$2.09+38.4%

Balance sheet

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Cash & equivalents$300.5M+6.1%
Total debt$12.5B+1.9%
Total equity-$4.9B+7.1%
Total assets$10.8B+10.0%

Cash flow

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Operating cash flow$368.1M-13.5%
CapEx$646.9M+606%
Free cash flow$312.2M-16.9%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$25.42B+19.8%
Enterprise value$37.63B+13.3%
P/E28.9×-12.3×
P/S9.3×+1.4×

Profitability

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Gross margin94.1%-1.9pp
Operating margin52.4%+9.9pp
Net margin32.3%+13.0pp
FCF margin39%-7.2pp

Returns & leverage

See full
Current ratio0.4×+0.2×

Segments

By segment

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Domestic Site Leasing Revenue$469.8M+1.4%
International Site Leasing Revenue$162.0M-0.8%
Site Development Construction$67.2M+97.5%

FAQ

When did SBA Communications report Q2 2025 earnings?
SBA Communications (SBAC) reported Q2 2025 earnings on August 4, 2025 after market close.
What were SBA Communications's Q2 2025 revenue and EPS?
SBA Communications reported revenue of $699.0M and eps of $2.09 for Q2 2025.
Did SBA Communications beat estimates in Q2 2025?
Revenue missed the consensus estimate of $701.0M by $2.0M. EPS missed the consensus estimate of $3.12 by $1.03.
How did SBA Communications's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 5.8% from $660.5M a year earlier and eps grew 38.4% from $1.51.
Where can I find SBA Communications's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001193125-25-172604) and the 10-Q periodic report (0001034054-25-000008) directly on SEC EDGAR. The filing index links above go to sec.gov.