Network BackboneData Centers and Facilities5GTelecommunicationsWireless
Description
SBA Communications Corporation operates as an independent owner and operator of wireless communications infrastructure, including tower structures, rooftop, and other structures that support antennas used for wireless communications, which the compan…
Analysis
Hope premium
SBA Communications Corporation is priced well ahead of what the underlying numbers justify, a pattern we describe as a hope premium. Worth noting: the cash the business generates has lagged behind what the income statement shows.
On valuation, the picture is expensive. The owner-earnings multiple stands at 241.2×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 41% a year, against analyst forecasts of -99%. The market is pricing in far more than analysts expect: heroic expectations.
Growth is tepid; the safety picture is fragile. The company scores 12/20 on our value-creation score: creating some value.
Flags to be aware of: Some accounting patterns deserve a closer look. Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.
360° rank · history
1007550250
Jan 202339
81
2023202420252026
All-time high
81
Jun 2026
All-time low
23
Jan 2025
Average rank
44
across all years
Detailed & Historical Ranks
Deep dive into 15 detailed ranks and 3 years of history.
Current202520242023
Price/Sales
29
37
16
15
Price/Earnings
38
48
22
16
Price/Book
95
97
100
100
Dividend Yield
51
22
17
15
Value (overall)
60
51
36
26
Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.