SBA Communications Corp (SBAC) stock
SBACNasdaqReal Estate Investment TrustsFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 5, 2026Score 13/3014% below fair value
$189.35+2.78 (+1.49%)
Close on Nov 13, 2026Market cap $20.09BP/E 20.4Yield –
SBA Communications operating margin
Operating margin is operating income as a percentage of revenue.
SBA Communications's operating margin for the twelve months ending Sep 30, 2026 was 47.7%. For fiscal 2025 it was 47.7%, against 53.6% the year before. The highest annual figure on record is 53.6% in fiscal 2024.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 47.7% | −5.9 |
| FY2024 | Dec 31, 2024 | 53.6% | +19.5 |
| FY2023 | Dec 31, 2023 | 34.1% | −1.1 |
| FY2022 | Dec 31, 2022 | 35.1% | +1.2 |
| FY2021 | Dec 31, 2021 | 33.9% | +3.5 |
| FY2020 | Dec 31, 2020 | 30.4% | +1.5 |
| FY2019 | Dec 31, 2019 | 29.0% | −0.2 |
| FY2018 | Dec 31, 2018 | 29.2% | +2.6 |
| FY2017 | Dec 31, 2017 | 26.5% | +2.8 |
| FY2016 | Dec 31, 2016 | 23.7% | +4.6 |
| FY2015 | Dec 31, 2015 | 19.1% | −3.0 |
| FY2014 | Dec 31, 2014 | 22.0% | +4.4 |
| FY2013 | Dec 31, 2013 | 17.6% | +2.2 |
| FY2012 | Dec 31, 2012 | 15.4% | −0.4 |
| FY2011 | Dec 31, 2011 | 15.8% | +4.0 |
| FY2010 | Dec 31, 2010 | 11.9% | +2.0 |
| FY2009 | Dec 31, 2009 | 9.9% | +0.3 |
| FY2008 | Dec 31, 2008 | 9.6% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 51.5% | +0.4 |
| Q2 FY2026 | Jun 30, 2026 | 49.2% | +1.3 |
| Q1 FY2026 | Mar 31, 2026 | 48.7% | −1.7 |
| Q4 FY2025 | Dec 31, 2025 | 41.5% | −13.6 |
| Q3 FY2025 | Sep 30, 2025 | 51.1% | −5.2 |
| Q2 FY2025 | Jun 30, 2025 | 47.9% | −5.8 |
| Q1 FY2025 | Mar 31, 2025 | 50.4% | +1.3 |
| Q4 FY2024 | Dec 31, 2024 | 55.1% | +24.1 |
| Q3 FY2024 | Sep 30, 2024 | 56.3% | +19.8 |
| Q2 FY2024 | Jun 30, 2024 | 53.7% | +18.1 |
| Q1 FY2024 | Mar 31, 2024 | 49.2% | +16.0 |
| Q4 FY2023 | Dec 31, 2023 | 31.1% | −3.1 |
| Q3 FY2023 | Sep 30, 2023 | 36.4% | +0.5 |
| Q2 FY2023 | Jun 30, 2023 | 35.6% | +0.1 |
| Q1 FY2023 | Mar 31, 2023 | 33.2% | −1.8 |
| Q4 FY2022 | Dec 31, 2022 | 34.2% | +1.0 |
| Q3 FY2022 | Sep 30, 2022 | 36.0% | +0.0 |
| Q2 FY2022 | Jun 30, 2022 | 35.4% | +0.7 |
| Q1 FY2022 | Mar 31, 2022 | 35.0% | +3.3 |
| Q4 FY2021 | Dec 31, 2021 | 33.2% | +2.4 |
| Q3 FY2021 | Sep 30, 2021 | 35.9% | +5.3 |
| Q2 FY2021 | Jun 30, 2021 | 34.7% | +3.7 |
| Q1 FY2021 | Mar 31, 2021 | 31.6% | +2.4 |
| Q4 FY2020 | Dec 31, 2020 | 30.8% | +0.8 |
| Q3 FY2020 | Sep 30, 2020 | 30.7% | +0.3 |
| Q2 FY2020 | Jun 30, 2020 | 31.0% | +3.7 |
| Q1 FY2020 | Mar 31, 2020 | 29.2% | +1.0 |
| Q4 FY2019 | Dec 31, 2019 | 30.0% | −1.1 |
| Q3 FY2019 | Sep 30, 2019 | 30.3% | +0.8 |
| Q2 FY2019 | Jun 30, 2019 | 27.3% | −0.3 |
| Q1 FY2019 | Mar 31, 2019 | 28.2% | −0.1 |
| Q4 FY2018 | Dec 31, 2018 | 31.1% | +4.2 |
| Q3 FY2018 | Sep 30, 2018 | 29.5% | +2.6 |
| Q2 FY2018 | Jun 30, 2018 | 27.6% | +0.8 |
| Q1 FY2018 | Mar 31, 2018 | 28.4% | +2.9 |
| Q4 FY2017 | Dec 31, 2017 | 26.9% | +1.1 |
| Q3 FY2017 | Sep 30, 2017 | 27.0% | – |
| Q2 FY2017 | Jun 30, 2017 | 26.8% | – |
| Q1 FY2017 | Mar 31, 2017 | 25.5% | – |
| Q4 FY2016 | Dec 31, 2016 | 25.8% | – |
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