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SBA Communications SBAC Q3 2025 earnings

Reported November 3, 2025 · After market close

Revenue$732.3MBeat by $6.5M
EPS$3.32Beat by $0.28
Revenue estimate$725.8M
EPS estimate$3.04

Next report

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

Financials

Q3 2025

Income statement

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Revenue$732.3M+9.7%
Gross profit$669.8M+5.4%
Operating income$374.2M-0.4%
Net income$236.8M-8.4%
EPS (diluted)$2.20-8.3%

Balance sheet

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Cash & equivalents$465.4M+85.1%
Total debt$12.7B+3.1%
Total equity-$4.9B+4.7%
Total assets$11.3B+10.4%

Cash flow

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Operating cash flow$318.0M+4.4%
CapEx$74.7M-72.6%
Free cash flow$258.0M+7.5%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$20.76B-19.7%
Enterprise value$33B-13.0%
P/E24.2×-13.5×
P/S7.4×-2.3×

Profitability

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Gross margin93.2%-2.8pp
Operating margin51.1%+3.7pp
Net margin30.7%+5.0pp
FCF margin38.7%-7.2pp

Returns & leverage

See full
Current ratio0.5×-0.2×

Segments

By segment

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Domestic Site Leasing Revenue$470.3M+1.2%
International Site Leasing Revenue$186.2M+15.8%
Site Development Construction$75.9M+81.2%

FAQ

When did SBA Communications report Q3 2025 earnings?
SBA Communications (SBAC) reported Q3 2025 earnings on November 3, 2025 after market close.
What were SBA Communications's Q3 2025 revenue and EPS?
SBA Communications reported revenue of $732.3M and eps of $3.32 for Q3 2025.
Did SBA Communications beat estimates in Q3 2025?
Revenue beat the consensus estimate of $725.8M by $6.5M. EPS beat the consensus estimate of $3.04 by $0.28.
How did SBA Communications's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 9.7% from $667.6M a year earlier and eps grew 38.3% from $2.40.
Where can I find SBA Communications's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001193125-25-262644) and the 10-Q periodic report (0001034054-25-000010) directly on SEC EDGAR. The filing index links above go to sec.gov.