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Also traded in: Germany

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 : 3/10

vs
industry
vs
history
Cash-to-Debt 0.01
SBAC's Cash-to-Debt is ranked lower than
99% of the 416 Companies
in the Global Telecom Services industry.

( Industry Median: 0.30 vs. SBAC: 0.01 )
Ranked among companies with meaningful Cash-to-Debt only.
SBAC' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.01  Med: 0.03 Max: 0.49
Current: 0.01
0.01
0.49
Equity-to-Asset -0.44
SBAC's Equity-to-Asset is ranked lower than
98% of the 413 Companies
in the Global Telecom Services industry.

( Industry Median: 0.41 vs. SBAC: -0.44 )
Ranked among companies with meaningful Equity-to-Asset only.
SBAC' s Equity-to-Asset Range Over the Past 10 Years
Min: -0.44  Med: 0.09 Max: 0.61
Current: -0.44
-0.44
0.61
Debt-to-Equity -3.10
SBAC's Debt-to-Equity is ranked lower than
99.99% of the 329 Companies
in the Global Telecom Services industry.

( Industry Median: 0.74 vs. SBAC: -3.10 )
Ranked among companies with meaningful Debt-to-Equity only.
SBAC' s Debt-to-Equity Range Over the Past 10 Years
Min: -296.52  Med: 3.92 Max: 530.12
Current: -3.1
-296.52
530.12
Debt-to-EBITDA 9.52
SBAC's Debt-to-EBITDA is ranked lower than
95% of the 338 Companies
in the Global Telecom Services industry.

( Industry Median: 2.31 vs. SBAC: 9.52 )
Ranked among companies with meaningful Debt-to-EBITDA only.
SBAC' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 7.59  Med: 8.43 Max: 10.76
Current: 9.52
7.59
10.76
Interest Coverage 1.53
SBAC's Interest Coverage is ranked lower than
86% of the 350 Companies
in the Global Telecom Services industry.

( Industry Median: 6.29 vs. SBAC: 1.53 )
Ranked among companies with meaningful Interest Coverage only.
SBAC' s Interest Coverage Range Over the Past 10 Years
Min: 0.34  Med: 0.83 Max: 1.55
Current: 1.53
0.34
1.55
Piotroski F-Score: 6
Altman Z-Score: 0.62
Beneish M-Score: -2.92
WACC vs ROIC
5.01%
1.64%
WACC
ROIC
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 : 9/10

vs
industry
vs
history
Operating Margin % 30.75
SBAC's Operating Margin % is ranked higher than
93% of the 415 Companies
in the Global Telecom Services industry.

( Industry Median: 10.31 vs. SBAC: 30.75 )
Ranked among companies with meaningful Operating Margin % only.
SBAC' s Operating Margin % Range Over the Past 10 Years
Min: 9.82  Med: 20.81 Max: 30.75
Current: 30.75
9.82
30.75
Net Margin % -0.11
SBAC's Net Margin % is ranked lower than
65% of the 415 Companies
in the Global Telecom Services industry.

( Industry Median: 5.09 vs. SBAC: -0.11 )
Ranked among companies with meaningful Net Margin % only.
SBAC' s Net Margin % Range Over the Past 10 Years
Min: -31.07  Med: -12.43 Max: 6
Current: -0.11
-31.07
6
ROA % -0.03
SBAC's ROA % is ranked lower than
70% of the 421 Companies
in the Global Telecom Services industry.

( Industry Median: 3.00 vs. SBAC: -0.03 )
Ranked among companies with meaningful ROA % only.
SBAC' s ROA % Range Over the Past 10 Years
Min: -5.8  Med: -2.36 Max: 1.41
Current: -0.03
-5.8
1.41
ROC (Joel Greenblatt) % 12.78
SBAC's ROC (Joel Greenblatt) % is ranked lower than
56% of the 418 Companies
in the Global Telecom Services industry.

( Industry Median: 17.16 vs. SBAC: 12.78 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
SBAC' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 1.09  Med: 6.04 Max: 15.83
Current: 12.78
1.09
15.83
3-Year Revenue Growth Rate 6.40
SBAC's 3-Year Revenue Growth Rate is ranked higher than
68% of the 383 Companies
in the Global Telecom Services industry.

( Industry Median: 1.70 vs. SBAC: 6.40 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
SBAC' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -11.8  Med: 7.1 Max: 23.7
Current: 6.4
-11.8
23.7
3-Year EBITDA Growth Rate 7.50
SBAC's 3-Year EBITDA Growth Rate is ranked higher than
58% of the 351 Companies
in the Global Telecom Services industry.

( Industry Median: 4.30 vs. SBAC: 7.50 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
SBAC' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: 0  Med: 14.1 Max: 102.7
Current: 7.5
0
102.7
GuruFocus has detected 4 Warning Signs with SBA Communications Corp SBAC.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» SBAC's 30-Y Financials

Financials (Next Earnings Date: 2019-02-27 Est.)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q4 2017

SBAC Guru Trades in Q4 2017

Pioneer Investments 31,559 sh (New)
Steven Cohen 186,705 sh (+169.75%)
Paul Tudor Jones 11,504 sh (+178.35%)
Jim Simons 1,224,149 sh (+155.96%)
Chuck Akre 2,465,000 sh (unchged)
Louis Moore Bacon Sold Out
Columbia Wanger Sold Out
George Soros 150,000 sh (-25.00%)
Ron Baron 1,374,726 sh (-3.33%)
Mario Gabelli 3,102 sh (-1.90%)
Lou Simpson 1,201,439 sh (-0.44%)
» More
Q1 2018

SBAC Guru Trades in Q1 2018

Steve Mandel 3,385,152 sh (New)
Louis Moore Bacon 60,000 sh (New)
George Soros 160,000 sh (+6.67%)
Paul Tudor Jones 22,577 sh (+96.25%)
Pioneer Investments 114,460 sh (+262.69%)
Chuck Akre 2,465,000 sh (unchged)
Ron Baron 1,222,873 sh (-11.05%)
Steven Cohen 19,900 sh (-89.34%)
Jim Simons 1,151,400 sh (-5.94%)
Mario Gabelli 3,080 sh (-0.71%)
Lou Simpson 5,125 sh (-99.57%)
» More
Q2 2018

SBAC Guru Trades in Q2 2018

Steve Mandel 3,508,194 sh (+3.63%)
Jim Simons 1,171,849 sh (+1.78%)
Chuck Akre 2,465,000 sh (unchged)
Steven Cohen 555,000 sh (unchged)
George Soros Sold Out
Steven Cohen Sold Out
Paul Tudor Jones Sold Out
Louis Moore Bacon Sold Out
Lou Simpson Sold Out
Ron Baron 1,190,128 sh (-2.68%)
Pioneer Investments 113,154 sh (-1.14%)
Mario Gabelli 2,970 sh (-3.57%)
» More
Q3 2018

SBAC Guru Trades in Q3 2018

Paul Tudor Jones 20,620 sh (New)
Jim Simons 1,497,149 sh (+27.76%)
Ron Baron 1,190,387 sh (+0.02%)
Steven Cohen 100,000 sh (unchged)
Steven Cohen 600,000 sh (unchged)
Chuck Akre 2,465,000 sh (unchged)
Mario Gabelli Sold Out
Steve Mandel Sold Out
Pioneer Investments 108,039 sh (-4.52%)
» More
» Details

Insider Trades

Latest Guru Trades with SBAC

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

Guru Date Action
Impact Price Range
(Average)*
Change from Average Comment Current Shares
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Business Description

Industry: Communication Services » Telecom Services    NAICS: 517919    SIC: 4899
Compare:JSE:MTN, BKK:ADVANC-F, XAMS:ATCB, NYSE:CTL, MIL:TITR, JSE:VOD, TSX:T, OSTO:TELIA, NYSE:SKM, CAS:IAM, XTER:O2D, BSP:VIVT3, XTER:UTDI, XAMS:KPN, NYSE:ATUS, XTER:DRI, TSX:RCI.B, NSE:BHARTIARTL, XKLS:6888, XPAR:ILD » details
Traded in other countries:4SB.Germany,
Headquarter Location:USA
SBA Communications Corp is an independent owner and operator of wireless communications towers in the United States, Brazil, Puerto Rico, Canada, and Central America.

SBA Communications owns and leases roughly 28,000 cell towers throughout North America and South America. It leases space on its towers to wireless service providers, who install equipment on the towers to support their wireless networks. The company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company owns more than 16,000 towers in the U.S., which accounted for more than three fourths of the company's total revenue in 2017. Internationally, SBA's greatest presence is in Brazil, where it operates more than 8,000 towers. SBA operates as a real estate investment trust, or REIT, but does not expect to be required to pay a dividend under REIT rules until early next decade.

Guru Investment Theses on SBA Communications Corp

Baron Asset Fund Comments on SBA Communications - Apr 13, 2017

Another top ten holding, SBA Communications Corp. (SBAC), is the third largest independent owner of wireless towers in the U.S., with a growing presence in Canada, Central America, and Brazil. SBA owns and operates over 25,000 towers in total. Because of regulatory and zoning requirements, supply is restricted, creating an advantage for existing tower operators like SBA. At the same time, demand in increasing as consumers use increasing amounts of wireless data bandwidth, forcing carriers to augment their networks. To increase network density, carriers lease space for equipment on towers. We think SBA can generate additional revenue from new lease and amendment activity, leading to strong cash flow growth. Given its strong balance sheet, we believe SBA has many opportunities to grow internationally, particularly in Brazil, where SBA has acquired over 5,000 towers.



From Baron Asset Fund first quarter 2017 shareholder letter.



Check out Ron Baron latest stock trades

Baron Asset Fund Comments on SBA Communications Corp - Jan 30, 2017

Shares of U.S. and Latin American wireless tower owner SBA Communications Corp. (NASDAQ:SBAC) fell on concerns that the upcoming Trump-appointed FCC and Justice Department will encourage consolidation among SBA’s U.S. customer base. We believe this risk is likely misunderstood, as U.S. carriers have strengthened over the past few years, making carrier consolidation a less attractive alternative. Further, we believe that SBA will continue to benefit from significant equipment additions and share repurchases, in the event that additional acquisition opportunities do not present themselves.



From Barron Asset Fund fourth quarter 2016 commentary.



Check out Ron Baron latest stock trades

Ratios

vs
industry
vs
history
Forward PE Ratio 98.04
SBAC's Forward PE Ratio is ranked lower than
96% of the 125 Companies
in the Global Telecom Services industry.

( Industry Median: 19.53 vs. SBAC: 98.04 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
Price-to-Owner-Earnings 40.19
SBAC's Price-to-Owner-Earnings is ranked lower than
82% of the 211 Companies
in the Global Telecom Services industry.

( Industry Median: 17.03 vs. SBAC: 40.19 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
SBAC' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 13.32  Med: 35.64 Max: 148.41
Current: 40.19
13.32
148.41
PS Ratio 11.06
SBAC's PS Ratio is ranked lower than
95% of the 405 Companies
in the Global Telecom Services industry.

( Industry Median: 1.50 vs. SBAC: 11.06 )
Ranked among companies with meaningful PS Ratio only.
SBAC' s PS Ratio Range Over the Past 10 Years
Min: 2.58  Med: 8.3 Max: 12.18
Current: 11.06
2.58
12.18
Price-to-Free-Cash-Flow 28.60
SBAC's Price-to-Free-Cash-Flow is ranked lower than
71% of the 218 Companies
in the Global Telecom Services industry.

( Industry Median: 16.91 vs. SBAC: 28.60 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
SBAC' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 8.24  Med: 30.83 Max: 45.8
Current: 28.6
8.24
45.8
Price-to-Operating-Cash-Flow 23.71
SBAC's Price-to-Operating-Cash-Flow is ranked lower than
84% of the 299 Companies
in the Global Telecom Services industry.

( Industry Median: 9999.00 vs. SBAC: 23.71 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
SBAC' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 6.62  Med: 21.59 Max: 29.99
Current: 23.71
6.62
29.99
EV-to-EBIT 81.70
SBAC's EV-to-EBIT is ranked lower than
95% of the 333 Companies
in the Global Telecom Services industry.

( Industry Median: 15.66 vs. SBAC: 81.70 )
Ranked among companies with meaningful EV-to-EBIT only.
SBAC' s EV-to-EBIT Range Over the Past 10 Years
Min: -851.6  Med: 79.1 Max: 697.2
Current: 81.7
-851.6
697.2
EV-to-EBITDA 28.52
SBAC's EV-to-EBITDA is ranked lower than
89% of the 364 Companies
in the Global Telecom Services industry.

( Industry Median: 8.29 vs. SBAC: 28.52 )
Ranked among companies with meaningful EV-to-EBITDA only.
SBAC' s EV-to-EBITDA Range Over the Past 10 Years
Min: 14.4  Med: 24.3 Max: 31.8
Current: 28.52
14.4
31.8
EV-to-Revenue 15.97
SBAC's EV-to-Revenue is ranked lower than
97% of the 416 Companies
in the Global Telecom Services industry.

( Industry Median: 2.06 vs. SBAC: 15.97 )
Ranked among companies with meaningful EV-to-Revenue only.
SBAC' s EV-to-Revenue Range Over the Past 10 Years
Min: 7.9  Med: 13.3 Max: 17.3
Current: 15.97
7.9
17.3
Current Ratio 1.23
SBAC's Current Ratio is ranked higher than
55% of the 414 Companies
in the Global Telecom Services industry.

( Industry Median: 1.12 vs. SBAC: 1.23 )
Ranked among companies with meaningful Current Ratio only.
SBAC' s Current Ratio Range Over the Past 10 Years
Min: 0.12  Med: 1.33 Max: 5.31
Current: 1.23
0.12
5.31
Quick Ratio 1.23
SBAC's Quick Ratio is ranked higher than
58% of the 414 Companies
in the Global Telecom Services industry.

( Industry Median: 1.04 vs. SBAC: 1.23 )
Ranked among companies with meaningful Quick Ratio only.
SBAC' s Quick Ratio Range Over the Past 10 Years
Min: 0.12  Med: 1.33 Max: 5.31
Current: 1.23
0.12
5.31
Days Sales Outstanding 17.86
SBAC's Days Sales Outstanding is ranked higher than
90% of the 404 Companies
in the Global Telecom Services industry.

( Industry Median: 54.05 vs. SBAC: 17.86 )
Ranked among companies with meaningful Days Sales Outstanding only.
SBAC' s Days Sales Outstanding Range Over the Past 10 Years
Min: 10.94  Med: 16.24 Max: 24.92
Current: 17.86
10.94
24.92
Days Payable 25.40
SBAC's Days Payable is ranked lower than
88% of the 378 Companies
in the Global Telecom Services industry.

( Industry Median: 96.88 vs. SBAC: 25.40 )
Ranked among companies with meaningful Days Payable only.
SBAC' s Days Payable Range Over the Past 10 Years
Min: 18.64  Med: 22.6 Max: 36.5
Current: 25.4
18.64
36.5

Buy Back

vs
industry
vs
history
3-Year Average Share Buyback Ratio 3.40
SBAC's 3-Year Average Share Buyback Ratio is ranked higher than
93% of the 270 Companies
in the Global Telecom Services industry.

( Industry Median: -1.80 vs. SBAC: 3.40 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
SBAC' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -70.8  Med: -5.6 Max: 3.4
Current: 3.4
-70.8
3.4

Valuation & Return

vs
industry
vs
history
Price-to-Intrinsic-Value-Projected-FCF 7.01
SBAC's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
91% of the 245 Companies
in the Global Telecom Services industry.

( Industry Median: 1.29 vs. SBAC: 7.01 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
SBAC' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 1.92  Med: 3.86 Max: 422.14
Current: 7.01
1.92
422.14
Price-to-Median-PS-Value 1.33
SBAC's Price-to-Median-PS-Value is ranked lower than
72% of the 371 Companies
in the Global Telecom Services industry.

( Industry Median: 0.99 vs. SBAC: 1.33 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
SBAC' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.01  Med: 0.92 Max: 1.42
Current: 1.33
0.01
1.42
Earnings Yield (Greenblatt) % 1.22
SBAC's Earnings Yield (Greenblatt) % is ranked lower than
74% of the 426 Companies
in the Global Telecom Services industry.

( Industry Median: 4.81 vs. SBAC: 1.22 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
SBAC' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -0.1  Med: 1.2 Max: 2.1
Current: 1.22
-0.1
2.1
Forward Rate of Return (Yacktman) % 12.25
SBAC's Forward Rate of Return (Yacktman) % is ranked higher than
69% of the 270 Companies
in the Global Telecom Services industry.

( Industry Median: 6.98 vs. SBAC: 12.25 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
SBAC' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: 11  Med: 17.35 Max: 22.9
Current: 12.25
11
22.9

More Statistics

Revenue (TTM) (Mil) $1,824.92
EPS (TTM) $ -0.03
Beta0.49
Volatility19.71%
52-Week Range $146.13 - 177.67
Shares Outstanding (Mil)113.32

Analyst Estimate

Dec18 Dec19 Dec20
Revenue (Mil $) 1,851 1,983 2,102
EBIT (Mil $) 509 690 770
EBITDA (Mil $) 1,216 1,370 1,489
EPS ($) 0.30 1.85 2.23
EPS without NRI ($) 0.30 1.85 2.23
EPS Growth Rate
(Future 3Y To 5Y Estimate)
45.86%
Dividends per Share ($)

Piotroski F-Score Details

Piotroski F-Score: 66
Positive ROAN
Positive CFROAY
Higher ROA yoyN
CFROA > ROAY
Lower Leverage yoyN
Higher Current Ratio yoyY
Less Shares Outstanding yoyY
Higher Gross Margin yoyY
Higher Asset Turnover yoyY

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