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73.86 (1y: +35%)
Market Cap 9.68 B P/E(ttm)
Enterprise Value 14.92 B P/B 14.40
SBAC- NAS (USA)
SBA Communications Corp
  • Currently 1/5
Business Predictability Rank: 1-Star
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
Read more:
What is Predictability Rank?
Performances of real portfolio
Top Ranked Predictable Companies
$73.86
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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 4/10

vs
industry		 vs
history
Cash to Debt 0.045
SBAC's Cash to Debt is ranked higher than
55% of the 755 Companies
in the Global Telecom Services industry.

( Industry Median: 0.31 vs. SBAC: 0.045 )
SBAC' s 10-Year Cash to Debt Range
Min: 0.01   Max: 0.08
Current: 0.05
0.01
0.08
Equity to Asset 0.099
SBAC's Equity to Asset is ranked higher than
56% of the 755 Companies
in the Global Telecom Services industry.

( Industry Median: 0.38 vs. SBAC: 0.099 )
SBAC' s 10-Year Equity to Asset Range
Min: -0.1   Max: 0.57
Current: 0.1
-0.1
0.57
Interest Coverage 0.6
SBAC's Interest Coverage is ranked higher than
63% of the 755 Companies
in the Global Telecom Services industry.

( Industry Median: 4.00 vs. SBAC: 0.6 )
SBAC' s 10-Year Interest Coverage Range
Min: 0   Max: No Debt
Current: 0.6
F-Score: 4
Z-Score: 0.32
M-Score: -1.98
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 6/10

vs
industry		 vs
history
Operating margin (%) 15.40
SBAC's Operating margin (%) is ranked higher than
83% of the 755 Companies
in the Global Telecom Services industry.

( Industry Median: 10.60 vs. SBAC: 15.40 )
SBAC' s 10-Year Operating margin (%) Range
Min: -38.9   Max: 15.8
Current: 15.4
-38.9
15.8
Net-margin (%) -19
SBAC's Net-margin (%) is ranked lower than
53% of the 755 Companies
in the Global Telecom Services industry.

( Industry Median: 5.30 vs. SBAC: -19 )
SBAC' s 10-Year Net-margin (%) Range
Min: -103.2   Max: -9.8
Current: -19
-103.2
-9.8
ROE (%) -27.7
SBAC's ROE (%) is ranked lower than
54% of the 755 Companies
in the Global Telecom Services industry.

( Industry Median: 8.60 vs. SBAC: -27.7 )
SBAC' s 10-Year ROE (%) Range
Min: -392.4   Max: -5.4
Current: -27.7
-392.4
-5.4
ROA (%) -2.7
SBAC's ROA (%) is ranked higher than
50% of the 755 Companies
in the Global Telecom Services industry.

( Industry Median: 3.50 vs. SBAC: -2.7 )
SBAC' s 10-Year ROA (%) Range
Min: -20.9   Max: -1.5
Current: -2.7
-20.9
-1.5
ROC (Joel Greenblatt) (%) 6.10
SBAC's ROC (Joel Greenblatt) (%) is ranked higher than
68% of the 755 Companies
in the Global Telecom Services industry.

( Industry Median: 17.00 vs. SBAC: 6.10 )
SBAC' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -9.3   Max: 7.2
Current: 6.1
-9.3
7.2
Revenue Growth (%) 13.7
SBAC's Revenue Growth (%) is ranked higher than
94% of the 755 Companies
in the Global Telecom Services industry.

( Industry Median: 0.00 vs. SBAC: 13.7 )
SBAC' s 10-Year Revenue Growth (%) Range
Min: -9.6   Max: 13.7
Current: 13.7
-9.6
13.7
EBITDA Growth (%) 14.6
SBAC's EBITDA Growth (%) is ranked higher than
94% of the 755 Companies
in the Global Telecom Services industry.

( Industry Median: 0.00 vs. SBAC: 14.6 )
SBAC' s 10-Year EBITDA Growth (%) Range
Min: 4.5   Max: 63.1
Current: 14.6
4.5
63.1
EPS Growth (%) 5.9
SBAC's EPS Growth (%) is ranked higher than
88% of the 755 Companies
in the Global Telecom Services industry.

( Industry Median: 0.00 vs. SBAC: 5.9 )
SBAC' s 10-Year EPS Growth (%) Range
Min: -30.3   Max: 47.4
Current: 5.9
-30.3
47.4
» SBAC's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades
Q2 2012

SBAC Guru Trades in Q2 2012

Jim Simons 787,349 sh (New)
Steven Cohen 10,219 sh (+28.43%)
Ron Baron 5,753,015 sh (+0.76%)
Ray Dalio Sold Out
Richard Blum 954,210 sh (-4.54%)
Meridian Funds 1,263,525 sh (-8.88%)
Columbia Wanger 5,111,000 sh (-13.18%)
Louis Moore Bacon 20,000 sh (-95.79%)
» More
Q3 2012

SBAC Guru Trades in Q3 2012

Jeremy Grantham 13,300 sh (New)
Jim Simons 1,347,549 sh (+71.15%)
Steven Cohen Sold Out
Louis Moore Bacon Sold Out
Ron Baron 5,680,003 sh (-1.27%)
Meridian Funds 1,177,210 sh (-6.83%)
Columbia Wanger 4,457,000 sh (-12.8%)
Richard Blum 464,025 sh (-51.37%)
» More
Q4 2012

SBAC Guru Trades in Q4 2012

Steven Cohen 266,575 sh (New)
Bruce Kovner 5,724 sh (New)
George Soros 30,000 sh (New)
Richard Blum Sold Out
Columbia Wanger 4,427,000 sh (-0.67%)
Ron Baron 5,501,746 sh (-3.14%)
Meridian Funds 958,000 sh (-18.62%)
Jim Simons 784,449 sh (-41.79%)
» More
Q1 2013

SBAC Guru Trades in Q1 2013

Chris Davis 117,056 sh (New)
Pioneer Investments 35,000 sh (New)
Jim Simons 1,887,949 sh (+140.67%)
Steven Cohen 426,600 sh (+60.03%)
Bruce Kovner 6,300 sh (+10.06%)
George Soros Sold Out
Columbia Wanger 4,340,000 sh (-1.97%)
Meridian Funds 896,000 sh (-6.47%)
Ron Baron 5,058,278 sh (-8.06%)
» More
» Details

Insider Trades

Latest Guru Trades with SBAC

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
George Soros 2013-03-31 Sold Out 0.03%$67.45 - $73.32 $ 73.864%0
George Soros 2012-12-31 New Buy0.03%$62.45 - $70.9 $ 73.8610%30000
Ray Dalio 2012-06-30 Sold Out 0.05%$49.77 - $57.52 $ 73.8640%0
Ray Dalio 2012-03-31 Add 900.42%0.04%$43.13 - $51.04 $ 73.8668%56664
Ray Dalio 2011-12-31 New Buy$33.38 - $42.96 $ 73.8690%5664
Meridian Funds 2011-09-30 Add 53.57%0.68%$32.82 - $39.88 $ 73.86100%1517645
Meridian Funds 2011-06-30 Reduce -24.92%0.39%$36.59 - $40.27 $ 73.8692%988215
Meridian Funds 2011-03-31 New Buy1.56%$36.94 - $44.26 $ 73.8680%1316155
George Soros 2011-03-31 Sold Out $36.94 - $44.26 $ 73.8680%0
George Soros 2010-12-31 New Buy$36.86 - $40.96 $ 73.8687%6500
George Soros 2010-09-30 Sold Out 0.01%$33.23 - $40.3 $ 73.86102%0
George Soros 2010-06-30 Reduce -42.59%$31.5425 - $36.97 $ 73.86115%6200
George Soros 2010-03-31 Reduce -24.48%$31.79 - $36.74 $ 73.86110%10800
Premium More recent guru trades are included for Premium Members only!!
» Financial Charts

Peter Lynch Chart

Guru Investment Theses on SBA Communications Corp

Baron Funds Comments on SBA Communications - Feb 20, 2013

SBA Communications Corp. (SBAC) owns cellular communications towers and leases space on them to all major domestic wireless carriers. Its share price rose during the fourth quarter as the company continued to execute its business plan. As consumers use increasing amounts of wireless data bandwidth, carriers need to augment their networks by placing more equipment on towers, and SBA generates additional leasing revenue and cash flow from this activity.We also think SBA has an opportunity to grow internationally. Last quarter, SBA announced its first acquisition in Brazil. (Aaron Wasserman)

From Baron Funds' fourth quarter commentary.


Check out Ron Baron latest stock trades

Baron Funds Comments on SBA Communications - Feb 06, 2013

SBA Communications Corp. (SBAC) owns and operates cellular communications towers. All the major domestic wireless carriers lease space on SBA's towers to house key elements of their transmission networks. SBA's share price rose during the quarter, and throughout 2012, as the company's cash flow continued to be driven higher by the secular increase in data usage by smart phone customers.As consumers demand more wireless data bandwidth, carriers must augment their networks by placing more transmission equipment on towers, which generates high-margin, incremental cash flow for SBA. The company also has operations in several fast-growing international markets, and it just announced its first acquisition in Brazil. In addition, SBA may choose in the future to pursue conversion to a real estate investment trust (REIT), which we believe would lead investors to assign a higher multiple to the company's cash flows.

From Baron Funds' fourth quarter letter.

Check out Ron Baron latest stock trades

Baron Funds Comments on SBA Communications Corp. - Dec 06, 2012

SBA Communications Corp. (SBAC) owns cellular communications towers and leases space on them to all the major domestic wireless telecommunication carriers. Its shares rose as the increasing use of smartphones, such as the new iPhone 5, drove ongoing demand for wireless bandwidth. This, in turn, led wireless carriers to seek additional space on SBA's towers.

From Baron Funds’ third quarter commentary.


Check out Ron Baron latest stock trades

Baron Funds Comments on SBA Communications - Aug 23, 2012

From Baron Funds' second-quarter letter:

Shares of SBA Communications Corp. (SBAC), an owner of wireless towers, performed well during the quarter, as wireless demand remained strong, and carriers began to show signs of activity in planning and building 4G networks. U.S. carriers continued to see insatiable consumer demand for their data networks, and carriers are quickly running out of available wireless spectrum. In addition, SBA has begun reporting earnings metrics consistent with REITs, and its shares are being valued akin to other REIT stocks.
Check out Ron Baron latest stock trades

Top Ranked Articles about SBA Communications Corp

Baron Funds Comments on SBA Communications
February 20, 2013
SBA Communications Corp. (SBAC) owns cellular communications towers and leases space on them to all major domestic wireless carriers. Its share price rose during the fourth quarter as the company continued to execute its business plan. As consumers use increasing amounts of wireless data bandwidth, carriers need to augment their networks by placing more equipment on towers, and SBA generates additional leasing revenue and cash flow from this activity.We also think SBA has an opportunity to grow internationally. Last quarter, SBA announced its first acquisition in Brazil. (Aaron Wasserman) Read more...
Baron Funds Comments on SBA Communications
February 6, 2013
SBA Communications Corp. (SBAC) owns and operates cellular communications towers. All the major domestic wireless carriers lease space on SBA's towers to house key elements of their transmission networks. SBA's share price rose during the quarter, and throughout 2012, as the company's cash flow continued to be driven higher by the secular increase in data usage by smart phone customers.As consumers demand more wireless data bandwidth, carriers must augment their networks by placing more transmission equipment on towers, which generates high-margin, incremental cash flow for SBA. The company also has operations in several fast-growing international markets, and it just announced its first acquisition in Brazil. In addition, SBA may choose in the future to pursue conversion to a real estate investment trust (REIT), which we believe would lead investors to assign a higher multiple to the company's cash flows. Read more...
Baron Funds Comments on SBA Communications Corp.
December 6, 2012
SBA Communications Corp. (SBAC) owns cellular communications towers and leases space on them to all the major domestic wireless telecommunication carriers. Its shares rose as the increasing use of smartphones, such as the new iPhone 5, drove ongoing demand for wireless bandwidth. This, in turn, led wireless carriers to seek additional space on SBA's towers. Read more...
WEEKLY CFO SELLS HIGHLIGHT: SBAC, XOXO, MTH, FICO, SGEN, OAS
September 3, 2012
According to GuruFocus Insider Data, the largest CFO sells during the past week were: SBA Communications Corporation, XO Group Inc, Meritage Homes Corporation, Fair Isaac Corporation, Seattle Genetics Inc, and Oasis Petroleum Inc. Read more...
Baron Funds Comments on SBA Communications
August 23, 2012
From Baron Funds' second-quarter letter: Read more...

Ratios

vs
industry		 vs
history
P/B 14.40
SBAC's P/B is ranked lower than
53% of the 640 Companies
in the Global Telecom Services industry.

( Industry Median: 2.13 vs. SBAC: 14.40 )
SBAC' s 10-Year P/B Range
Min: 0.05   Max: 660.83
Current: 14.4
0.05
660.83
P/S 8.53
SBAC's P/S is ranked lower than
54% of the 693 Companies
in the Global Telecom Services industry.

( Industry Median: 1.36 vs. SBAC: 8.53 )
SBAC' s 10-Year P/S Range
Min: 0.04   Max: 13.4
Current: 8.53
0.04
13.4
PFCF 37.70
SBAC's PFCF is ranked higher than
58% of the 528 Companies
in the Global Telecom Services industry.

( Industry Median: 13.97 vs. SBAC: 37.70 )
SBAC' s 10-Year PFCF Range
Min: 0.04   Max: 184.33
Current: 37.7
0.04
184.33
EV-to-EBIT 90.9
SBAC's EV-to-EBIT is ranked higher than
50% of the 575 Companies
in the Global Telecom Services industry.

( Industry Median: 12.69 vs. SBAC: 90.9 )
SBAC' s 10-Year EV-to-EBIT Range
Min: 65.2   Max: 2100.2
Current: 90.9
65.2
2100.2

Valuation & Return

vs
industry		 vs
history
Price/DCF (Projected) 3.3
SBAC's Price/DCF (Projected) is ranked higher than
60% of the 361 Companies
in the Global Telecom Services industry.

( Industry Median: 0.90 vs. SBAC: 3.3 )
SBAC' s 10-Year Price/DCF (Projected) Range
Min: 2.1   Max: 4.3
Current: 3.3
2.1
4.3
Price/Median PS Value 1.3
SBAC's Price/Median PS Value is ranked higher than
58% of the 626 Companies
in the Global Telecom Services industry.

( Industry Median: 1.00 vs. SBAC: 1.3 )
SBAC' s 10-Year Price/Median PS Value Range
Min: 0.1   Max: 1.5
Current: 1.3
0.1
1.5
Earnings Yield (Greenblatt) 1.10
SBAC's Earnings Yield (Greenblatt) is ranked higher than
61% of the 755 Companies
in the Global Telecom Services industry.

( Industry Median: 6.10 vs. SBAC: 1.10 )
SBAC' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.1   Max: 1.5
Current: 1.1
0.1
1.5
Forward Rate of Return (Yacktman) 19.58
SBAC's Forward Rate of Return (Yacktman) is ranked higher than
94% of the 755 Companies
in the Global Telecom Services industry.

( Industry Median: 0.00 vs. SBAC: 19.58 )
SBAC' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -0.9   Max: 44.8
Current: 19.58
-0.9
44.8

Business Description

SBA Communications Corporation was incorporated in the State of Florida in March 1997. It is an independent owner and operator of wireless communications towers in United States, Puerto Rico and the U.S. Virgin Islands. Its principal business line is its site leasing business, which contributed 97.8% of its total segment operating profit for the year ended December 31, 2011. In its site leasing business, it leases antenna space mainly to wireless service providers on towers and other structures that it owns, manages or leases from others. Its other business line is its site development business, through which it assists wireless service providers in developing and maintaining their own wireless service networks. site development business is complementary to its site leasing business, and provides them the ability to keep in close contact with the wireless service providers who generate substantially all of its site leasing revenue and capture ancillary revenues that are generated by its site leasing activities, such as antenna and equipment installation at its tower locations. Its main focus is the leasing of antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts. Site leasing revenues are received mainly from wireless service provider tenants, including AT&T, Sprint, T-Mobile and Verizon Wireless. Wireless service providers enter into numerous different tenant leases with them, each of which relates to the lease or use of space at an individual tower site. Its site development business consists of two segments, site development consulting and site development construction. Site development services revenues are received mainly from providing a full range of end to end services to wireless service providers or companies providing development or project management services to wireless service providers. Its marketing and sales support is centralized and directed from its headquarters office in Boca Raton, Florida and is supplemented by its regional and territory offices. primary competitors for its site leasing activities are the national independent tower companies, American Tower Corporation, Crown Castle International and Global Tower Partners, a large number of regional independent tower owners, wireless service providers that own and operate their own towers and lease, or may in the future decide to lease, antenna space to other providers and alternative facilities such as rooftops, outdoor and indoor distributed antenna system networks, billboards and electric transmission towers. The site development business is competitive and price sensitive. The Company's competitors for its site leasing activities are the national independent tower companies including American Tower Corporation, Crown Castle International and Global Tower Partners, a large number of regional independent tower owners, wireless service providers that own and operate their own towers and lease, o
Company Website
SEC Reports
Industry: Telecom Services
Compare:CHU, VOD, T, VZ, AMOV
Traded in other countries:SBJ.Germany
» More Articles for SBAC

Headlines

Articles On GuruFocus.com
Baron Funds Comments on SBA Communications Feb 20 2013 
Baron Funds Comments on SBA Communications Feb 06 2013 
Baron Funds Comments on SBA Communications Corp. Dec 06 2012 
Baron Funds: The Case for Real Estate Sep 06 2012 
WEEKLY CFO SELLS HIGHLIGHT: SBAC, XOXO, MTH, FICO, SGEN, OAS Sep 03 2012 
Baron Funds Comments on SBA Communications Aug 23 2012 
Baron Asset Fund Commentary on Stock Holdings Feb 06 2012 
Meridian Funds Buys AAP, DENN, SWY, MDP, SBAC, FDO, GMT, HURN Oct 31 2011 
Meridian Funds Buys SBAC, EWBC, NTCT, OTEX, USTR, PLL, PETM, Sells AMT, CCJ, NTAP, DNEX May 05 2011 
SBA Communications Corp. (SBAC) CEO & Pres Jeffrey Stoops sells 100,000 Shares Nov 05 2010 

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