SBAC (SBA Communications) ROCE %: 16.92% (As of Mar. 2026)


SBAC SBA Communications Corp SBAC
86 GF Score
Price $185.47
GF Value $233.11
Valuation Modestly Undervalued
! 5 Warning Signs
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What is SBA Communications ROCE %?

SBA Communications SBAC -2.19% 86 ROCE % is 16.92% as of Mar. 2026. GuruFocus rates SBAC with a GF Score™ of 86/100 and a GF Value™ of $233.11 (Modestly Undervalued). The stock has 5 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. SBA Communications's annualized ROCE % for the quarter that ended in Mar. 2026 was 16.92%.

SBA Communications  (NAS:SBAC) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

SBA Communications ROCE % Related Terms

SBA Communications ROCE % Historical Data

* Premium members only.

The historical data trend for SBA Communications's ROCE % 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.

SBA Communications ROCE % Chart

SBA Communications Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.36 9.71 10.53 13.02 18.57

SBA Communications Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 15.92 16.56 17.27 23.94 16.92
SBAC
86GF Score
SBA Communications Corp SBAC
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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SBA Communications ROCE % Calculation

SBA Communications's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=1718.805/( ( (11417.336 - 1797.936) + (11575.012 - 2678.301) )/ 2 )
=1718.805/( (9619.4+8896.711)/ 2 )
=1718.805/9258.0555
=18.57 %

SBA Communications's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=1461.26/( ( (11575.012 - 2678.301) + (11720.844 - 3345.69) )/ 2 )
=1461.26/( ( 8896.711 + 8375.154 )/ 2 )
=1461.26/8635.9325
=16.92 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

* 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 16.92% mean?
SBA Communications (SBAC) has a ROCE % of 16.92% as of Mar. 2026.
Is SBA Communications' ROCE % too high?
SBA Communications' current ROCE % is 16.92%. The REITs industry median ROCE % is 5.21. SBA Communications' value of 16.92% is 224.8% above this industry median. 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' ROCE % compare to WY and LAMR?
SBA Communications' ROCE % of 16.92% can be compared against companies in the REITs industry. The industry median ROCE % is 5.21. SBA Communications' value of 16.92% is 224.8% 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 ROCE % for a REITs company?
The median ROCE % among REITs companies is 5.21, based on 757 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SBA Communications's current ROCE % of 16.92% is 224.8% 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the REITs industry, the median ROCE % is 5.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SBA Communications's current ROCE % is 16.92%. 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 ROCE % is 16.92% and 224.8% above the REITs industry median of 5.21. 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 ROCE % calculated?
ROCE % is calculated from a company's financial statements. For SBA Communications (SBAC), the current ROCE % is 16.92% 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 $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:

  • ROCE %: 16.92%
  • GF Value™: $233.11 vs. price of $185.47 (20.4% below fair value)
  • GF Score™: 86/100 with 5 warning signs
  • Industry Position: 224.8% above the REITs median

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 Business Description

Industry Real EstateREITs
Other Exchanges 0KYZ:UK4SB:Germany
Address 8051 Congress Avenue, Boca Raton, FL, USA, 33487
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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ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$185.47
Price
$233.11
GF Value