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SBA Communications SBAC Contract With Customer Net Asset Liability

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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$19.76B-19.0%
Enterprise value$32.39B-11.5%
P/E19.4×-8.3×
P/S6.9×-2.0×

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

Reported directly by SBA Communications in its filing.

Tagged under the XBRL concept sbac:ContractWithCustomerNetAssetLiability.

The official record: SBA Communications’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is SBA Communications's contract with customer net asset liability?
SBA Communications (SBAC) reported contract with customer net asset liability of $17.67M in Q1 2026.
How has SBA Communications's contract with customer net asset liability changed year-over-year?
SBA Communications's contract with customer net asset liability decreased by 24.4% year-over-year, from $23.37M to $17.67M.
What is the long-term trend for SBA Communications's contract with customer net asset liability?
Over 5 years (2020 to 2025), SBA Communications's contract with customer net asset liability has grown at a -8.7% compound annual growth rate (CAGR), from $33M to $20.97M.
What does contract with customer net asset liability mean?
The net position representing the difference between cumulative revenue recognized and cumulative billings issued for customer contracts. A net asset position indicates revenue recognized exceeds billings, while a net liability indicates billings exceed recognized revenue. This reflects the timing mismatch between accounting recognition and cash invoicing.