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SBA Communications SBAC Q4 2025 Annual earnings

Reported February 26, 2026 · After market close

Revenue$719.6MMiss by $6.2M
EPS$3.47Miss by $0.42
Revenue estimate$725.8M
EPS estimate$3.89

Next report

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

Financials

Q4 2025

Income statement

See full
Revenue$719.6M+3.7%
Gross profit$674.8M+2.6%
Operating income$298.9M-21.8%
Net income$370.3M+113%
EPS (diluted)$3.47+116%

Balance sheet

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Cash & equivalents$437.0M-68.8%
Total debt$15.3B-2.8%
Total equity-$4.9B+5.0%
Total assets$11.6B+1.4%

Cash flow

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Operating cash flow$304.0M-2.0%
CapEx$62.7M+12.9%
Free cash flow$241.3M-5.2%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$20.61B-5.9%
Enterprise value$35.49B-2.1%
P/E19.6×-9.7×
P/S7.3×-0.9×

Profitability

See full
Gross margin92.9%-2.6pp
Operating margin47.7%-5.9pp
Net margin37.4%+9.5pp
FCF margin37.9%-3.4pp

Returns & leverage

See full
Current ratio0.3×-0.8×

Segments

By segment

See full
Domestic Site Leasing Revenue$464.6M-1.5%
International Site Leasing Revenue$201.7M+15.6%
Site Development Construction$53.4M+12.7%

FAQ

When did SBA Communications report Q4 2025 earnings?
SBA Communications (SBAC) reported Q4 2025 earnings on February 26, 2026 after market close.
What were SBA Communications's Q4 2025 revenue and EPS?
SBA Communications reported revenue of $719.6M and eps of $3.47 for Q4 2025.
Did SBA Communications beat estimates in Q4 2025?
Revenue missed the consensus estimate of $725.8M by $6.2M. EPS missed the consensus estimate of $3.89 by $0.42.
How did SBA Communications's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 3.7% from $693.7M a year earlier and eps grew 115.5% from $1.61.
Where can I find SBA Communications's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001193125-26-076767) and the 10-K periodic report (0001034054-26-000002) directly on SEC EDGAR. The filing index links above go to sec.gov.