Market cap is the total market value to buy the whole company. It is equal to the share price times the number of Shares Outstanding (EOP). SBA Communications's share price for the quarter that ended in Mar. 2026 was $172.11. SBA Communications's Shares Outstanding (EOP) for the quarter that ended in Mar. 2026 was 106 Mil. Therefore, SBA Communications's market cap for the quarter that ended in Mar. 2026 was $18,255 Mil.
SBA Communications's quarterly market cap
declined
from Sep. 2025 ($20,645 Mil) to Dec. 2025 ($20,439 Mil) and
declined
from Dec. 2025 ($20,439 Mil) to Mar. 2026 ($18,255 Mil).
SBA Communications's annual market cap
declined
from Dec. 2023 ($27,411 Mil) to Dec. 2024 ($21,921 Mil) and
declined
from Dec. 2024 ($21,921 Mil) to Dec. 2025 ($20,439 Mil).
Enterprise Value is the theoretical takeover price. It is more comprehensive than market capitalization (market cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash and cash equivalents. SBA Communications's Enterprise Value for Today is $34,792 Mil.
SBA Communications (NAS:SBAC) Market Cap Explanation
Market cap is not the real price you pay for a company. If you buy the company and become its owner, you become the owner of the cash the company has, and you also assume the companys debt. The real price you pay is the Enterprise Value.
Warren Buffett uses the ratio of total market cap of all public traded companies over GDP to measure if the market is expensive. As of April 2012, the US total market cap is about $14.7 trillion, while the US GDP is about $15 trillion. The market was modestly overvalued.
SBA Communications Market Cap Related Terms
SBA Communications Market Cap Historical Data
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The historical data trend for SBA Communications's Market Cap 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.
For the REIT - Specialty subindustry, SBA Communications's Market Cap, along with its competitors' market caps and Market Cap 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 Market Cap vs REITs Industry
For the REITs industry and Real Estate sector, SBA Communications's Market Cap distribution charts can be found below:
* The bar in red indicates where SBA Communications's Market Cap falls into.
Market cap is the short version of market capitalization. It is the total market value to buy the whole company. It is equal to the share price times the number of shares outstanding.
SBA Communications's Market Cap for the fiscal year that ended in Dec. 2025 is calculated as
* 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 (SBAC) has a Market Cap of $19,672 Mil as of Jun. 25, 2026. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on SBA Communications and its competitors. According to the industry distribution chart, SBA Communications ranks #17 out of 982 companies in the REITs industry, placing it in the top 1.7%.
Is SBA Communications' Market Cap too high?
SBA Communications' current Market Cap is $19,672 Mil. The REITs industry median Market Cap is 281.89. SBA Communications' value of $19,672 Mil is 6878.7% above this industry median. Based on the distribution chart, SBA Communications ranks #17 out of 982 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, SBA Communications has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SBA Communications' Market Cap compare to WY and LAMR?
According to the REITs industry distribution chart, SBA Communications ranks #17 out of 982 companies for Market Cap. This places SBA Communications in the top 2% of its industry — outperforming the majority of peers. The industry median Market Cap is 281.89. SBA Communications' value of $19,672 Mil is 6878.7% 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 Market Cap for a REITs company?
The median Market Cap among REITs companies is 281.89, based on 982 companies in the industry. Companies in the top quartile (top 25%) have a Market Cap significantly above this median, while those in the bottom quartile fall well below. However, Market Cap should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SBA Communications's current Market Cap of $19,672 Mil is 6878.7% 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 Market Cap mean?
A high Market Cap can signal that a stock is expensive relative to its fundamentals. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on SBA Communications and its competitors. For the REITs industry, the median Market Cap is 281.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SBA Communications's current Market Cap is $19,672 Mil. 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 $233.11, compared to a current price of $185.47 — trading 20.4% below its estimated fair value. The current Market Cap is $19,672 Mil and 6878.7% above the REITs industry median of 281.89. SBA Communications' overall GF Score™ is 86/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Market Cap calculated?
Market Cap is calculated from a company's financial statements. For SBA Communications (SBAC), the current Market Cap is $19,672 Mil as of Jun. 25, 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 $185.47 is trading 20.4% below its estimated GF Value™ of $233.11.
GuruFocus considers SBA Communications to be Modestly Undervalued.
Key valuation signals for SBAC:
Market Cap: $19,672 Mil
GF Value™: $233.11 vs. price of $185.47 (20.4% below fair value)
Industry Position: 6878.7% above the REITs median (#17 of 982)
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 owns a portfolio of about 46,000 wireless towers throughout North America, South America, and Africa. It leases space on its towers to wireless service providers, who install equipment to support their wireless networks. The company has a very concentrated customer base, with most revenue in each market generated by the top three or four mobile carriers. It owns more than 17,000 towers in the US, which account for about 70% of leasing revenue. Internationally, SBA's largest markets are Brazil and Guatemala, where it owns roughly 12,000 and 5,000 towers, respectively. SBA operates as a real estate investment trust.
86GF Score
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