SBAC is the ticker symbol for SBA COMMUNICATIONS CORP, a publicly traded Real Estate sector company listed on Nasdaq. 13F Pro tracks SBAC with AI-powered analysis, an AI quality score, SEC EDGAR financials, insider transactions, and institutional 13F holdings — all sourced directly from public SEC filings.

Is SBAC a good stock to buy?

13F Pro's AI ranking engine scores SBAC at 66.4/100, ranked #25 of 148 stocks on a composite quality score built from its SEC filings, covering profitability, growth, balance sheet strength, and free cash flow. The full AI verdict and bull/bear case for SBAC is available at https://13fpro.ai/company/SBAC. Not investment advice — review the underlying SEC filings before making any trade.

Where does 13F Pro source SBAC data?

All SBA COMMUNICATIONS CORP fundamentals and ownership data come directly from SEC EDGAR. SBA COMMUNICATIONS CORP files with the SEC under CIK 1034054. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

SBA COMMUNICATIONS CORP SBAC

NasdaqLarge CapReal Estate

REIT boardRanked among REITs, not on the main board. A REIT's earnings are dominated by depreciation on assets that typically appreciate, so net margin and return on assets understate it against an operating company.

13F Pro quality score

Rank #25 of 148TOP 25%

Why it scores 66 Real Estate peers →

Rankings refresh quarterly once 80% of peers have filed. Next update: ~Nov 14, 2026.

Revenue

$715.27M

Quarter to Jun 30

Net income

$198.78M

Quarter to Jun 30

Free cash flow

$344.76M

Quarter to Jun 30

Operating margin

49.2%

Quarter to Jun 30

Top Institutional Holders

as of Q2 2026

$18.50B total

DODGE & COX

$2.17B+2.0%

BlackRock, Inc.

$1.79B+0.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

$1.73B+1.1%

VANGUARD CAPITAL MANAGEMENT LLC

$1.22B+0.2%

STATE STREET CORP

$903.35M+3.2%

COHEN & STEERS, INC.

$573.10M+3.7%

GEODE CAPITAL MANAGEMENT, LLC

$558.43M+0.8%

JPMORGAN CHASE & CO

$485.91M-30.8%

Invesco Ltd.

$341.44M-1.5%

DEUTSCHE BANK AG\

$319.78M+278.2%

CHARLES SCHWAB INVESTMENT MANAGEMENT INC

$301.80M+8.4%

DIMENSIONAL FUND ADVISORS LP

$284.34M-0.1%

ARROWSTREET CAPITAL, LIMITED PARTNERSHIP

$276.75M-2.9%

NORGES BANK

$261.81M--

Legal & General Group Plc

$252.05M-5.3%

DIAMOND HILL CAPITAL MANAGEMENT INC

$228.37M-33.1%

NORDEA INVESTMENT MANAGEMENT AB

$228.29M+2.7%

CITADEL ADVISORS LLC

$228.13M+218.9%

MORGAN STANLEY

$225.31M+14.3%

PRINCIPAL FINANCIAL GROUP INC

$203.34M+722.7%

FMR LLC

$182.37M+46.3%

NORTHERN TRUST CORP

$175.62M+1.2%

Alyeska Investment Group, L.P.

$175.06MNew

CANADA PENSION PLAN INVESTMENT BOARD

$160.20M0.0%

UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AME

$158.95M-2.8%

See all 687 institutional holders →

What's Driving SBAC's Business? Latest 10-Q Breakdown

AI-extracted from the 10-Q filed 2026-08-06 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Biggest Revenue Drivers

Domestic site leasing$452.4M-3.7% YoY

Sprint, EchoStar, and other lease non-renewals, partially offset by contractual escalators, new leases, and towers acquired/built since April 2025

Site development$51.4M-23.5% YoY

Decreased carrier activity

Biggest Revenue Drivers

Total revenue: $715.3M+2% YoY

Domestic site leasing$452.4M-3.7% YoY

Sprint, EchoStar, and other lease non-renewals, partially offset by contractual escalators, new leases, and towers acquired/built since April 2025

Site development$51.4M-23.5% YoY

Decreased carrier activity

Largest Expense Items

Cost of site leasing$134.1M+13.1% YoY

Higher ground lease and operating costs from towers acquired and built, particularly in international markets

Selling, general, and administrative$77.5M+9.2% YoY

Higher non-cash compensation and personnel costs, partially offset by lower costs from market divestitures and lower bad debt expense

Margins: Operating margin improved to about 49.2% from 47.9% a year earlier, as international site leasing operating income grew 105.1% (constant currency), more than offsetting a 5.0% decline in domestic site leasing operating income from Sprint/EchoStar-driven churn.

Watch Items from the Filing

Company expects elevated churn through 2026: domestic churn of $132.0M-$136.0M of cash site leasing revenue (Sprint/EchoStar) and international churn of $36.0M-$40.0M (Oi wireline).
Brazil tax authorities have issued income tax deficiencies for 2017-2020; SBA estimates reasonably possible losses of up to $115.8M plus $194.3M of penalties/interest, though no liability is accrued.
Subsequent to quarter-end, SBA issued $3.5B of unsecured senior notes (2026 Senior Notes) to repay the $1.0B Revolving Credit Facility and $2.2B 2024 Term Loan, resetting its debt maturity profile.
Brazil represents about 30% of total towers and 14.5% of site leasing revenue for the quarter; a hypothetical 10% adverse move in the Brazilian Real would cut quarterly revenue and operating income by roughly 1.2% and 0.9%.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →

Key Metrics

Revenue

Q2 2026

EDGAR

Net Income

Q2 2026

EDGAR

EPS (Diluted)

Q2 2026

EDGAR

Operating Margin

Q2 2026

EDGAR

ROIC

Q2 2026

EDGAR

Free Cash Flow

Q2 2026

EDGAR

Debt/Equity

Q2 2026

EDGAR

Financial Trends

Revenue & Net Income

13fpro.ai/company/SBAC

Earnings Per Share

13fpro.ai/company/SBAC

Loading ratio trend…

SBA COMMUNICATIONS CORP reported revenue, net income and margins by fiscal period, from SEC filings.
Period	Form	Revenue	Net income	Op. marginOperating margin
FY 2025	10-K	$2.8B	$1.1B	47.7%
FY 2024	10-K	$2.7B	$749.5M	53.6%
FY 2023	10-K	$2.7B	$501.8M	34.1%
FY 2022	10-K	$2.6B	$461.4M	35.1%
FY 2021	10-K	$2.3B	$237.6M	33.9%
FY 2020	10-K	$2.1B	$24.1M	30.4%

About SBA COMMUNICATIONS CORP (SBAC): stock profile, AI score and financials

SBA COMMUNICATIONS CORP (SBAC) stock profile, AI quality score, and SEC EDGAR financial data, a Real Estate sector company. 13F Pro's AI-powered ranking engine scores SBAC at 66.4/100 on a composite quality score built from its SEC filings, placing it at rank #25 of 148 stocks — the top 25% of the AI-ranked universe. Based on the latest XBRL financial filings (Q2 2026), SBA COMMUNICATIONS CORP reports quarterly revenue of $715.3M, net income of $198.8M, an operating margin of 49.2%. Top institutional holders of SBAC by reported 13-F value include DODGE & COX, BlackRock, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. SBAC trades on the Nasdaq exchange and files with the SEC under CIK 1034054. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate SBAC daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for SBA COMMUNICATIONS CORP directly from SEC EDGAR.

Financials through the period ended Jun 30, 2026SEC EDGAR: CIK 1034054 →

SBA COMMUNICATIONS CORP SBAC

Top Institutional Holders

What's Driving SBAC's Business? Latest 10-Q Breakdown

Biggest Revenue Drivers

Biggest Revenue Drivers

Largest Expense Items

Watch Items from the Filing

Key Metrics

Financial Trends

Revenue & Net Income

Earnings Per Share

SBAC key financials by period

SBAC insiders

Congress trading in SBAC

About SBA COMMUNICATIONS CORP (SBAC): stock profile, AI score and financials