SBA COMMUNICATIONS CORP (SBAC) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	2.9B	2.8B	2.7B	2.7B	2.6B
Cost of Revenue	1.0B	1.6B	607.7M	634.3M	695.5M
Gross Profit	1.8B	1.2B	2.1B	2.1B	1.9B
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	290.5M	277.6M	259.5M	267.1M	261.9M
General & Admin Expense	138.6M	—	—	—	—
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	91.9M	(476.4M)	376.7M	886.5M	750.7M
Total Operating Expenses	382.3M	(198.8M)	636.2M	1.2B	1.0B
Cost and Expenses	1.4B	1.4B	1.2B	1.8B	1.7B
Operating Income (EBIT)	1.5B	1.4B	1.4B	923.7M	925.4M
Non-Operating
Interest Income	26.0M	31.7M	42.0M	18.3M	10.1M
Interest Expense	518.7M	467.9M	—	—	—
Net Interest Income	(492.7M)	(436.2M)	42.0M	18.3M	10.1M
Other Non-Op Income/Expense	(295.7M)	(128.1M)	(663.1M)	(375.2M)	(399.6M)
Non-Operating Income (excl Interest)	(222.4M)	(339.8M)	(89.3M)	(151.5M)	(42.8M)
EBT (Pre-Tax Income)	1.2B	1.2B	772.7M	548.5M	525.8M
Income Tax Expense	99.2M	187.6M	24.0M	51.1M	66.0M
Bottom Line
Net Income	985.2M	1.1B	749.5M	501.8M	461.4M
Earnings from Cont. Ops	1.1B	1.1B	748.7M	497.4M	459.8M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	985.2M	1.1B	749.5M	501.8M	461.4M
Per Share
Basic EPS	$9.29	$9.83	$6.96	$4.64	$4.27
Diluted EPS	$9.27	$9.80	$6.94	$4.61	$4.22
Revenue Per Share	$27.05	$26.26	$24.81	$24.91	$24.08
Shares
Basic Shares Outstanding	105.4M	107.2M	108.0M	108.9M	109.3M
Diluted Shares Outstanding	105.7M	107.5M	108.1M	108.9M	109.4M
Profitability Metrics
EBITDA	2.0B	2.0B	1.8B	1.8B	1.7B
D&A	327.5M	292.3M	269.5M	716.3M	707.6M
EBIT	1.7B	1.7B	1.5B	1.1B	968.2M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Sep 1, 2026