SBA CommunicationsSBAC +2.10%83 Return-on-Tangible-Equity is Negative Tangible Equity% as of Mar. 2026. GuruFocus rates SBAC with a GF Score™ of 83/100 and a GF Value™ of $233.21 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 933 REITs companies, SBA Communications ranks better than 99.89% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. SBA Communications's annualized net income for the quarter that ended in Mar. 2026 was $739 Mil. SBA Communications's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $-7,684 Mil. Therefore, SBA Communications's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was Negative Tangible Equity%.
The historical rank and industry rank for SBA Communications's Return-on-Tangible-Equity or its related term are showing as below:
SBAC'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 0 Med: 0 Max: 0
Current: Negative Tangible Equity
SBAC's Return-on-Tangible-Equity is ranked better than 99.89% of 933
companies
in the REITs industry
Industry Median: 6.26
vs SBAC: Negative Tangible Equity
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
SBA Communications Return-on-Tangible-Equity Related Terms
SBA Communications Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for SBA Communications's Return-on-Tangible-Equity 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-Equity Comparison
For the REIT - Specialty subindustry, SBA Communications's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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-Equity vs REITs Industry
For the REITs industry and Real Estate sector, SBA Communications's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where SBA Communications's Return-on-Tangible-Equity 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-Equity, the net income of the last fiscal year and the average total shareholder tangible equity 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.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of Negative Tangible Equity% mean?
SBA Communications (SBAC) has a Return-on-Tangible-Equity of Negative Tangible Equity% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on SBA Communications and its competitors. According to the industry distribution chart, SBA Communications ranks #1 out of 933 companies in the REITs industry, placing it in the top 0.099999999999994%.
Is SBA Communications' Return-on-Tangible-Equity too high?
SBA Communications' current Return-on-Tangible-Equity is Negative Tangible Equity%. Based on the distribution chart, SBA Communications ranks #1 out of 933 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 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SBA Communications' Return-on-Tangible-Equity compare to WY and LAMR?
According to the REITs industry distribution chart, SBA Communications ranks #1 out of 933 companies for Return-on-Tangible-Equity. This places SBA Communications in the top 0% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 6.26. 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-Equity for a REITs company?
The median Return-on-Tangible-Equity among REITs companies is 6.26, based on 933 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. 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-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on SBA Communications and its competitors. For the REITs industry, the median Return-on-Tangible-Equity is 6.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SBA Communications's current Return-on-Tangible-Equity is Negative Tangible Equity%. 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 $233.21, compared to a current price of $184.71 — trading 20.8% below its estimated fair value. The current Return-on-Tangible-Equity is Negative Tangible Equity%. 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 Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For SBA Communications (SBAC), the current Return-on-Tangible-Equity is Negative Tangible Equity% 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 $184.71 is trading 20.8% below its estimated GF Value™ of $233.21.
GuruFocus considers SBA Communications to be Modestly Undervalued.
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.
83GF Score
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