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Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
As of today (2026-09-22), SBA Communications's Intrinsic Value: Projected FCF is $64.06. The stock price of SBA Communications is $176.055. Therefore, SBA Communications's Price-to-Intrinsic-Value-Projected-FCF of today is 2.8.
The historical rank and industry rank for SBA Communications's Intrinsic Value: Projected FCF or its related term are showing as below:
SBAC'
s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 2.31 Med: 5.43 Max: 14.61
Current: 2.75
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of SBA Communications was 14.61. The lowest was 2.31. And the median was 5.43.
SBAC's Price-to-Projected-FCF is ranked worse than 96.1% of 616
companies
in the REITs industry
Industry Median: 0.63
vs SBAC: 2.75
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
SBA Communications's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF
=
Share Price
/
Intrinsic Value: Projected FCF
=
176.055
/
-6.7415433610812
=
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SBA Communications Intrinsic Value: Projected FCF Related Terms
SBA Communications Intrinsic Value: Projected FCF Historical Data
* Premium members only.
The historical data trend for SBA Communications's Intrinsic Value: Projected FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SBAC vs WY, LAMR, GLPI: Intrinsic Value: Projected FCF Comparison
For the REIT - Specialty subindustry, SBA Communications's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
SBA Communications Price-to-Projected-FCF vs REITs Industry
For the REITs industry and Real Estate sector, SBA Communications's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where SBA Communications's Price-to-Projected-FCF falls into.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Intrinsic Value: Projected FCF of $64.06 mean?
SBA Communications (SBAC) has a Intrinsic Value: Projected FCF of $64.06 as of Sep. 22, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on SBA Communications and its competitors. According to the industry distribution chart, SBA Communications ranks #592 out of 616 companies in the REITs industry, placing it in the top 96.1%.
Is SBA Communications' Intrinsic Value: Projected FCF too high?
SBA Communications' current Intrinsic Value: Projected FCF is $64.06. The REITs industry median Intrinsic Value: Projected FCF is 0.63. SBA Communications' value of $64.06 is 10068.3% above this industry median. Based on the distribution chart, SBA Communications ranks #592 out of 616 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, SBA Communications has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SBA Communications' Intrinsic Value: Projected FCF compare to WY and LAMR?
According to the REITs industry distribution chart, SBA Communications ranks #592 out of 616 companies for Intrinsic Value: Projected FCF. This places SBA Communications in the lower half of its industry. The industry median Intrinsic Value: Projected FCF is 0.63. SBA Communications' value of $64.06 is 10068.3% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: Projected FCF for a REITs company?
The median Intrinsic Value: Projected FCF among REITs companies is 0.63, based on 616 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SBA Communications's current Intrinsic Value: Projected FCF of $64.06 is 10068.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on SBA Communications and its competitors. For the REITs industry, the median Intrinsic Value: Projected FCF is 0.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SBA Communications's current Intrinsic Value: Projected FCF is $64.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SBA Communications stock overvalued right now?
Based on GuruFocus' analysis, SBA Communications (SBAC) is currently considered Modestly Undervalued. The stock's GF Value™ is $225.81, compared to a current price of $176.06 — trading 22% below its estimated fair value. The current Intrinsic Value: Projected FCF is $64.06 and 10068.3% above the REITs industry median of 0.63. SBA Communications' overall GF Score™ is 83/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For SBA Communications (SBAC), the current Intrinsic Value: Projected FCF is $64.06 as of Sep. 22, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is SBA Communications (SBAC) Overvalued in 2026?
Based on GuruFocus' analysis, SBA Communications stock appears to be undervalued.
The current stock price of $176.06 is trading 22% below its estimated GF Value™ of $225.81.
GuruFocus considers SBA Communications to be Modestly Undervalued.
Key valuation signals for SBAC:
Intrinsic Value: Projected FCF: $64.06
GF Value™: $225.81 vs. price of $176.06 (22% below fair value)
Industry Position: 10068.3% above the REITs median (#592 of 616)
No single metric tells the full story. See the SBAC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SBA Communications Corp is a real estate investment trust that owns and operates wireless communications infrastructure, primarily macro cell towers, in the United States and select international markets. The company leases antenna space on its towers to wireless carriers, broadcasters, and other tenants, generating recurring revenue through long-term lease agreements that typically include annual escalators. Its customers are predominantly large mobile network operators, resulting in a concentrated revenue base. In addition to tower leasing, SBA provides site development and related services, including construction and maintenance, though leasing remains the dominant business. Geographically, the United States accounts for the majority of its sites and revenue, with additional operations concentrated in Latin America, notably Brazil, and other markets in Central and South America. SBA continues to expand through tower acquisitions, new builds, and densification projects, while pursuing opportunities tied to mobile data growth and network upgrades.
83GF Score
Get the complete analysis for SBAC
Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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