Company / Operating Margin
SBA Communications Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
50.4%
FY2025
5-year range
29.0% / 53.6%
FY2021-FY2025
Trend
-5.9%
vs FY2024
Sector context
#16 of 70
Real Estate
What the data says
SBA Communications's operating margin of 50.4% is higher than 77% of companies in the Real Estate sector (FY2025). Operating Margin has fluctuated over the past 10 years, ranging from 19.1% in FY2017 to 53.6% in FY2024.
Based on SEC 10-K filings.
50.4% in FY2025 with a 5-year CAGR of +21.2%. Top quartile in the Real Estate sector.
Improved from 34.1% to 50.4% over the past 2 years.
Real Estate sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +20.0pp
- 5-Year Change
- +21.2pp
- 10-Year Change
- -
Sector benchmark
+83.9% above sector average
Key checks
Key Insights
- In FY2025, operating margin decreased 5.9% year-over-year.
- Currently 23.0pp above the Real Estate sector average.
- Peak operating margin was recorded in FY2024.
- Lowest operating margin in the period was in FY2017.
Company context
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.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 50.4% | -5.9% |
| FY2024 | 53.6% | +57.3% |
| FY2023 | 34.1% | +12.0% |
| FY2022 | 30.4% | +5.0% |
| FY2021 | 29.0% | -0.7% |
| FY2020 | 29.2% | +0.7% |
| FY2019 | 29.0% | +22.1% |
| FY2018 | 23.7% | +24.4% |
| FY2017 | 19.1% | -13.5% |
| FY2016 | 22.0% | +15.6% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026