SBA CommunicationsSBAC +4.13%85 Return-on-Tangible-Asset is 8.43% as of Mar. 2026, which is 155% above its 10-year median of 3.30. GuruFocus rates SBAC with a GF Score™ of 85/100 and a GF Value™ of $233.29 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 936 REITs companies, SBA Communications ranks better than 90.28% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. SBA Communications's annualizedNet Income for the quarter that ended in Mar. 2026 was $739 Mil. SBA Communications's average total tangible assets for the quarter that ended in Mar. 2026 was $8,767 Mil. Therefore, SBA Communications's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 8.43%.
The historical rank and industry rank for SBA Communications's Return-on-Tangible-Asset or its related term are showing as below:
SBAC'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 0.4 Med: 3.3 Max: 12.03
Current: 12.03
During the past 13 years, SBA Communications's highest Return-on-Tangible-Asset was 12.03%. The lowest was 0.40%. And the median was 3.30%.
SBAC's Return-on-Tangible-Asset is ranked better than 90.28% of 936
companies
in the REITs industry
Industry Median: 3.25
vs SBAC: 12.03
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
SBA Communications Return-on-Tangible-Asset Related Terms
SBA Communications Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for SBA Communications's Return-on-Tangible-Asset 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: Return-on-Tangible-Asset Comparison
For the REIT - Specialty subindustry, SBA Communications's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs REITs Industry
For the REITs industry and Real Estate sector, SBA Communications's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where SBA Communications's Return-on-Tangible-Asset falls into.
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 8.43% mean?
SBA Communications (SBAC) has a Return-on-Tangible-Asset of 8.43% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on SBA Communications and its competitors. This is 155% above median its historical median of 3.30. Over the past decade, SBA Communications' Return-on-Tangible-Asset has ranged from 0.40 to 12.03. According to the industry distribution chart, SBA Communications ranks #91 out of 936 companies in the REITs industry, placing it in the top 9.7%.
Is SBA Communications' Return-on-Tangible-Asset too high?
SBA Communications' current Return-on-Tangible-Asset of 8.43% is 155% above median its 10-year median of 3.30. Over the past 10 years, this metric has ranged from a low of 0.40 to a high of 12.03. The REITs industry median Return-on-Tangible-Asset is 3.25. SBA Communications' value of 8.43% is 159.4% above this industry median. Based on the distribution chart, SBA Communications ranks #91 out of 936 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 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SBA Communications' Return-on-Tangible-Asset compare to WY and LAMR?
According to the REITs industry distribution chart, SBA Communications ranks #91 out of 936 companies for Return-on-Tangible-Asset. This places SBA Communications in the top 10% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.25. SBA Communications' value of 8.43% is 159.4% above this benchmark. Historically, SBA Communications' own Return-on-Tangible-Asset has ranged from 0.40 to 12.03 over the past decade. While the company's 10-year median is 3.30 vs. the industry median of 3.25, SBA Communications has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a REITs company?
The median Return-on-Tangible-Asset among REITs companies is 3.25, based on 936 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SBA Communications's current Return-on-Tangible-Asset of 8.43% is 159.4% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on SBA Communications and its competitors. For the REITs industry, the median Return-on-Tangible-Asset is 3.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SBA Communications's current Return-on-Tangible-Asset is 8.43%, which is 155% above median its own 10-year median of 3.30. 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 $233.29, compared to a current price of $190.10 — trading 18.5% below its estimated fair value. The current Return-on-Tangible-Asset is 8.43%, which is 155% above median its 10-year median of 3.30 and 159.4% above the REITs industry median of 3.25. SBA Communications' overall GF Score™ is 85/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For SBA Communications (SBAC), the current Return-on-Tangible-Asset is 8.43% as of Mar. 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 $190.10 is trading 18.5% below its estimated GF Value™ of $233.29.
GuruFocus considers SBA Communications to be Modestly Undervalued.
Key valuation signals for SBAC:
Return-on-Tangible-Asset: 8.43% (155% above median its 10-year median of 3.30)
GF Value™: $233.29 vs. price of $190.10 (18.5% below fair value)
Industry Position: 159.4% above the REITs median (#91 of 936)
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.
85GF Score
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