SBA Communications Income Statement
SBAC / Real Estate|15 years of annual SEC 10-K data (FY2011-FY2025)
Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 15 fiscal years. All figures from audited SEC 10-K filings.
SBA Communications reported $664M in revenue and $221M in net income for FY2025. Revenue has grown at a 1.3% compound annual rate over the past 14 years.
Based on SEC 10-K filings.
Key Data Points
- Altman Z-Score -0.63 (distress zone, below 1.8 threshold)
- Strong profit margin: 28.0%
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $664.2M | $2.7B | $2.7B | $2.1B | $2.0B | $1.9B | $2.0B | $1.6B | $1.6B | $1.5B | $1.6B | $954.1M | $1.3B | $954.1M | $555.5M |
| Cost of Revenue | $199.0M | $118.7M | $139.9M | $102.8M | $119.1M | $96.5M | $119.1M | $420.9M | $444.4M | $428.5M | $444.4M | $279.5M | $408.3M | $279.5M | $180.5M |
| Gross Profit | $2.1B | $2.1B | $2.1B | $1.6B | $1.5B | $1.4B | $1.5B | $1.2B | $1.2B | $1.1B | $1.2B | $674.6M | $896.6M | $674.6M | - |
| SG&A Expense | $277.6M | $258.8M | $267.9M | $194.3M | $192.7M | $142.5M | $192.7M | $143.3M | $115.0M | $103.3M | $115.0M | $72.1M | $85.5M | $72.1M | $52.8M |
| Operating Income | $334.9M | $1.4B | $923.7M | $633.7M | $583.5M | $544.2M | $583.5M | $387.3M | $312.5M | $336.5M | $312.5M | $147.1M | $229.6M | $147.1M | $55.0M |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | $196.2M | $130.9M |
| Income Tax | $187.6M | $24.0M | $51.1M | -$41.8M | $39.6M | $4.2M | $39.6M | $11.1M | $9.1M | $8.6M | $9.1M | $6.6M | -$1.3M | $6.6M | $492.0K |
| Net Income | $220.7M | $749.5M | $501.8M | $24.1M | $147.0M | $47.5M | $147.0M | $76.2M | -$175.7M | -$24.3M | -$175.7M | -$181.0M | -$55.9M | -$181.0M | -$140.9M |
| EPS (Basic) | $4.64 | $4.27 | $2.17 | $0.22 | $1.30 | $0.41 | $0.86 | $0.61 | -$1.37 | -$0.19 | -$0.61 | - | -$0.18 | - | - |
| EPS (Diluted) | $4.61 | $4.22 | $2.14 | $0.21 | $1.28 | $0.41 | $0.86 | $0.61 | -$1.37 | -$0.19 | -$0.61 | -$1.51 | -$0.18 | -$1.68 | -$1.20 |
| Shares Outstanding | 107.6M | 108.0M | 108.0M | 109.0M | 109.8M | 111.8M | 112.4M | 116.4M | 127.8M | 128.9M | 127.8M | 120.3M | 111.6M | 109.7M | 114.8M |
| Gross Margin | 319.8% | 78.3% | 77.4% | 77.1% | 75.5% | 74.9% | 75.5% | 74.2% | 72.9% | 71.9% | 72.9% | 70.7% | 68.7% | 70.7% | - |
| Operating Margin | 50.4% | 53.6% | 34.1% | 30.4% | 29.0% | 29.2% | 29.0% | 23.7% | 19.1% | 22.0% | 19.1% | 15.4% | 17.6% | 15.4% | 9.9% |
| Profit Margin | 33.2% | 28.0% | 18.5% | 1.2% | 7.3% | 2.5% | 7.3% | 4.7% | -10.7% | -1.6% | -10.7% | -19.0% | -4.3% | -19.0% | -25.4% |