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Discontinued — last reported Q1 '26

Net debt at other companies

Cloudflare, Inc. logo
Cloudflare, Inc.NET
-5×-5.4×
Zscaler logo
ZscalerZS
19.2×+12.3×
Citigroup logo
CitigroupC
0.1×-0.3×
Morgan Stanley logo
Morgan StanleyMS
-0.2×
Wells Fargo & Company logo
Wells Fargo & CompanyWFC
0.6×-1.3×
American Express logo
American ExpressAXP
0.3×+0.3×

Other financials

Income statement

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Revenue$703.4M+5.9%
Gross profit$664.0M+6.1%
Operating income$342.8M+2.4%
Net income$184.8M-16.3%
EPS (diluted)$1.74-14.7%

Balance sheet

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Cash & equivalents$332.5M-49.9%
Total debt$13.0B+4.3%
Total equity-$4.8B+4.4%
Total assets$11.7B+12.2%

Cash flow

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Operating cash flow$255.1M-15.3%
CapEx$48.4M+4.8%
Free cash flow$206.7M-18.9%

Valuation

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Market cap$19.2B-22.5%
Enterprise value$31.82B-13.9%
P/E18.9×-9.3×
P/S6.7×-2.4×

Profitability

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Gross margin93%-2.0pp
Operating margin47.3%-6.6pp
Net margin35.7%+5.3pp
FCF margin35.7%-6.2pp

Returns & leverage

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Return on equity-11.1%
Debt / equity-2.7×
Current ratio0.2×-0.5×

Where this comes from

Calculated from SBA Communications’s reported figures.

The source filing: SBA Communications’s 10-Q, filed May 5, 2026. Open the filing →

Filed
May 5, 2026, 3:15 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001034054-26-000009

FAQ

What is SBA Communications's net debt?
SBA Communications (SBAC) reported net debt of $12.63B in Q1 2026.
How has SBA Communications's net debt changed year-over-year?
SBA Communications's net debt increased by 7.4% year-over-year, from $11.76B to $12.63B.
What is the long-term trend for SBA Communications's net debt?
Over 5 years (2020 to 2025), SBA Communications's net debt has grown at a 2.6% compound annual growth rate (CAGR), from $13.08B to $14.88B.
What does net debt mean?
Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

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