SBAC · REIT · FFO, book-value and yield view
SBA Communications Corporation (SBAC): Valuation Snapshot
SBA Communications Corporation (SBAC) is a real-estate investment trust, and a discounted-cash-flow model is the wrong lens for one, so TickerWorth does not publish a DCF fair value for it. What its filings and market data do show is below. Snapshot as of Oct 20, 2026.
Model by Miraaj Patel · generated from public market data · Updated Oct 20, 2026 · How these pages are made
How is a REIT like SBAC valued?
This is a REIT. A free-cash-flow DCF is structurally the wrong lens for property: heavy depreciation and continuous property capex swamp reported free cash flow, which is why REITs are valued on FFO/AFFO, net asset value and dividend yield. We show those lenses instead of a DCF number we would not stand behind.
What is SBAC's TickerWorth Score?
Middle of the pack — real strengths and real weaknesses
Compared with Real Estate companies in US
Its strongest point: a profitable, high-quality business. Its weakest: balance sheet looks stretched.
- Value · 56 of 100
Cheaper than 56% of Real Estate companies in US
- Price vs worth · — of 100
- Quality · 77 of 100
More profitable than 77% of Real Estate companies in US
- Financial health · 18 of 100
Financially stronger than 18% of Real Estate companies in US
- Growth · 29 of 100
Growing faster than 29% of Real Estate companies in US
- Momentum · 62 of 100
Outperformed 62% of Real Estate companies in US over the past year
Confidence: Medium confidence · Scored
Get the Undervalued Company of the Week.
- Price
- $183.09
- Market cap
- $19,
423, 672, 320 - 52-week high
- $224.46
- 52-week low
- $156.60
- Currency
- USD
- Exchange
- NasdaqGS
Snapshot of Oct 20, 2026, quote time not published · Prices are delayed.
What we can say
SBA Communications Corporation (SBAC) is a real-estate investment trust, and a free-cash-flow discounted-cash-flow (DCF) model is structurally the wrong lens for one. A REIT's reported free cash flow is swamped by property depreciation and the continuous capital spending that maintaining a portfolio requires, which is why the industry is valued on funds from operations (FFO/AFFO), net asset value and dividend yield instead. We have the data to print a DCF number for SBAC; we don't publish one because it would not mean what it appears to mean. What follows is how a REIT is actually read — descriptive, not a valuation, and not investment advice.
Read the full reasoning
On the numbers we do have, SBAC trades at a recent price of $183.09, a market capitalisation of about $19,423,672,320, sitting 39% of the way up its 52-week range ($156.60–$224.46), on the NasdaqGS.
The standard alternative to a DCF is relative valuation — comparing SBAC's trading multiples against a sector benchmark. Here that gives P/E of 20.2× (cheaper than the peer median of 27.6×); Fwd P/E of 22.6× (cheaper than the peer median of 35.7×); P/S of 6.8× (cheaper than the peer median of 9.7×); EV/EBITDA of 18.8× (in line with the peer median of 19.2×); Dividend yield of 2.7% (richer than the peer median of 3.9%). A cheaper multiple than peers can flag a discount or a market that expects weaker growth; it is a comparison, not a recommendation.
Finally, a price-based read — explicitly not a valuation. SBAC is in a mixed trend, trading -18.4% from its 52-week high. Over the past year the stock is -5.4%. Moving-average trend and 52-week position describe where the stock has traded; they say nothing about what it is worth.
To be exact about what this page is not: we are not saying the numbers for SBAC are unavailable. They are, and they are above. We are saying a discounted-cash-flow model is the wrong instrument for this kind of business, and publishing one anyway — because the inputs happen to exist — would be a precise answer to the wrong question. Refusing is the more useful answer, and it is the same rule we apply to every name in this category.
SBAC vs peers
Sector benchmark (bellwethers, not direct competitors).
| Multiple | SBAC | Peer median | Read |
|---|---|---|---|
| P/E | 20.2× | 27.6× | cheaper than |
| Fwd P/E | 22.6× | 35.7× | cheaper than |
| P/S | 6.8× | 9.7× | cheaper than |
| EV/EBITDA | 18.8× | 19.2× | in line with |
| Dividend yield | 2.7% | 3.9% | richer than |
What does SBA Communications Corporation do?
What does it do?
SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure, including tower structures, rooftops and other structures that support antennas used for wireless communications. In our site leasing business, we lease space to wireless service providers and other customers on assets we own or operate, and manage rooftop and tower sites for property owners under various contractual arrangements. It operates in the REIT - Specialty industry (Real Estate sector), headquartered in United States. The company employs roughly 1,844 people.
How does it make money?
The business turns $244M in annual revenue into profit. Out of every $100 of sales, about $52 is left as operating profit (operating margin of 52.2%), after a 74% gross margin on the products/services it sells. After all costs, taxes and interest, 34.5% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks stretched: may struggle to cover its short-term bills (0.2× current ratio), and is currently profitable.
Who at SBAC filed insider trades?
| Date | Insider | Relationship | What happened | Value | Filing |
|---|---|---|---|---|---|
| Krouse George R Jr | Director | Open-market sale | $54,802.35 | Form 4 for Krouse George R Jr (opens sec.gov in a new tab) | |
| DAY DONALD | EVP - SITE LEASING | Option exercise | — | Form 4 for DAY DONALD (opens sec.gov in a new tab) | |
| DAY DONALD | EVP - SITE LEASING | Shares withheld (tax) | $30,891.30 | Form 4 for DAY DONALD (opens sec.gov in a new tab) | |
| Krouse George R Jr | Director | Option exercise | $106,367.31 | Form 4 for Krouse George R Jr (opens sec.gov in a new tab) | |
| Krouse George R Jr | Director | Shares withheld (tax) | $106,805.00 | Form 4 for Krouse George R Jr (opens sec.gov in a new tab) | |
| LANGER JACK | Director | Option exercise | $318,677.31 | Form 4 for LANGER JACK (opens sec.gov in a new tab) |
A disclosure, not a signal to trade. Source: SEC EDGAR (Form 4). Older filings and the 90-day buying-and-selling read are part of Pro. See plans
Companies we do put a number on
Not investment advice. TickerWorth Score is a model output.
A descriptive, available-data snapshot and relative comparison — NOT a DCF, NOT a price target, and NOT investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public market data that can be wrong, stale or incomplete.