What is the 13F Pro Quality Score for SBAC?

13F Pro ranks SBA COMMUNICATIONS CORP (SBAC) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View SBAC's current score at https://13fpro.ai/company/SBAC (free sign-up required for the full ranking).

Which hedge funds own the most SBAC stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of SBAC include DODGE & COX, BlackRock,, VANGUARD PORTFOLIO MANAGEMENT. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/SBAC as soon as new 13F filings post.

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.

What sector is SBAC in?

SBA COMMUNICATIONS CORP (SBAC) is classified in the Real Estate sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/real-estate.

What drives SBAC's revenue?

Per SBA COMMUNICATIONS CORP's latest 10-Q filed with the SEC on 2026-08-06, the biggest revenue drivers are: Domestic site leasing ($452.4M, -3.7% YoY); Site development ($51.4M, -23.5% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/SBAC.

What are SBAC's largest expenses?

SBA COMMUNICATIONS CORP's latest 10-Q reports these as the largest expense items: Cost of site leasing ($134.1M, +13.1% YoY); Selling, general, and administrative ($77.5M, +9.2% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is SBAC research updated on 13F Pro?

SBAC's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

SBA COMMUNICATIONS CORP(SBAC)Stock Analysis

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Why SBAC Scores 64/100

exact factor attribution · 2026-08-29

SBAC's composite is driven by profitability and free cash flow, held back by revenue growth and earnings quality. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Profitability

+6.0 pts

90th pct

Free cash flow

+3.4 pts

73th pct

Capital efficiency

+3.2 pts

82th pct

Scale

+3.1 pts

71th pct

Earnings growth

+1.7 pts

84th pct

Institutional flow

+1.4 pts

78th pct

Shareholder dilution

-0.8 pts

35th pct

Earnings quality

-1.1 pts

39th pct

▲2

Revenue growth

-3.3 pts

34th pct

Latest change (2026-08-06): 71 → 74 · ↑ Revenue growth 72→90; despite ↓ Dilution 36→7

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

SBAC Stock Analysis & AI Quality Score

Data updated 2026-08-29

AI stock analysis and institutional research for SBA COMMUNICATIONS CORP (SBAC), a Real Estate sector company. 13F Pro tracks SBAC using direct SEC EDGAR data and AI-powered research tools. 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. SBA COMMUNICATIONS CORP's 13F Pro composite quality score has ranged between 51 and 74 since 2021, currently 63.7 — an improving long-term trajectory across 65 quarterly and live scoring snapshots.

✦

Fun facts about SBA COMMUNICATIONS CORP

Quirks, history, and lore behind SBAC — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. Real Estate company structured as a REIT · listed on Nasdaq · headquartered in Florida.
2
The Numbers
Owns and operates roughly 17,000 cell tower sites across the Americas, generating annual revenue in the low billions — all from renting vertical space.
3
The History
Founded in the late 1990s to capitalize on the wireless buildout boom, it converted to a REIT structure in the early 2010s to unlock major tax advantages.
4
The Secret
It doesn't run a wireless network — it just owns the steel and concrete that everyone else's networks hang on, collecting long-term leases from carriers who can't easily leave.
5
The Lore
Unlike its two giant tower rivals, this company has leaned heavily into Latin America, with a significant share of its portfolio sitting south of the U.S. border.
6
The Giveaway
Its ticker is four letters starting with SB, it's one of the Big Three U.S. cell tower REITs, and its initials literally stand for its founder's initials plus the word Communications.

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

AI-extracted from SBA COMMUNICATIONS CORP's 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 →Share on X

Revenue

Q2 2026

$715.3M

Net Income

Q2 2026

$198.8M

Free Cash Flow

Q2 2026

$344.8M

Operating Margin

Q2 2026

49.2%

ROIC

Q2 2026

12.0%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+5.1% YoY

$2.82BFY 2025

FY22 $2.63BFY23 $2.71BFY24 $2.68BFY25 $2.82B

Net Income

+40.6% YoY

$1.05BFY 2025

FY22 $461.4MFY23 $501.8MFY24 $749.5MFY25 $1.05B

Operating Income

-6.5% YoY

$1.34BFY 2025

FY22 $925.4MFY23 $923.7MFY24 $1.44BFY25 $1.34B

EPS (Diluted)

+41.2% YoY

$9.80FY 2025

FY22 $4.22FY23 $4.61FY24 $6.94FY25 $9.80

Total Assets

+1.4% YoY

$11.58BFY 2025

FY22 $10.59BFY23 $10.18BFY24 $11.42BFY25 $11.58B

Total Debt

+0.4% YoY

$14.84BFY 2025

FY22 $12.89BFY23 $12.97BFY24 $14.78BFY25 $14.84B

Op. Cash Flow

-3.3% YoY

$1.29BFY 2025

FY22 $1.29BFY23 $1.54BFY24 $1.33BFY25 $1.29B

Free Cash Flow

-3.6% YoY

$1.07BFY 2025

FY22 $-108.7MFY23 $1.31BFY24 $1.11BFY25 $1.07B

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$2.82B +5.1%	$2.68B -1.2%	$2.71B +3.0%	$2.63B +14.1%	$2.31B +10.8%	$2.08B
Net Income	$1.05B +40.6%	$749.5M +49.4%	$501.8M +8.8%	$461.4M +94.2%	$237.6M +885.8%	$24.1M
Operating Income	$1.34B -6.5%	$1.44B +55.4%	$923.7M -0.2%	$925.4M +18.3%	$782.5M +23.5%	$633.7M
EPS (Diluted)	$9.80 +41.2%	$6.94 +50.5%	$4.61 +9.2%	$4.22 +97.2%	$2.14 +919.0%	$0.21
Total Assets	$11.58B +1.4%	$11.42B +12.2%	$10.18B -3.8%	$10.59B +8.0%	$9.80B +7.0%	$9.16B
Total Debt	$14.84B +0.4%	$14.78B +14.0%	$12.97B +0.6%	$12.89B +4.6%	$12.33B +10.9%	$11.12B
Operating Cash Flow	$1.29B -3.3%	$1.33B -13.6%	$1.54B +20.1%	$1.29B +8.1%	$1.19B +5.7%	$1.13B
Free Cash Flow	$1.07B -3.6%	$1.11B -15.4%	$1.31B +1303.1%	$-108.7M +46.6%	$-203.6M -120.4%	$997.5M

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Available Research

13F Pro tracks comprehensive data for SBA COMMUNICATIONS CORP including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of SBAC

DODGE & COX
$2.2B12,323,254 sh
BlackRock, Inc.
$1.8B10,138,749 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$1.7B9,817,059 sh
VANGUARD CAPITAL MANAGEMENT LLC
$1.2B6,936,972 sh
STATE STREET CORP
$903.3M5,119,264 sh
COHEN & STEERS, INC.
$573.1M3,247,729 sh
GEODE CAPITAL MANAGEMENT, LLC
$558.4M3,175,913 sh
JPMORGAN CHASE & CO
$485.9M2,707,005 sh
Invesco Ltd.
$341.4M1,934,968 sh
DEUTSCHE BANK AG\
$319.8M1,812,200 sh

Fund	Value	Shares
DODGE & COX	$2.2B	12,323,254
BlackRock, Inc.	$1.8B	10,138,749
VANGUARD PORTFOLIO MANAGEMENT LLC	$1.7B	9,817,059
VANGUARD CAPITAL MANAGEMENT LLC	$1.2B	6,936,972
STATE STREET CORP	$903.3M	5,119,264
COHEN & STEERS, INC.	$573.1M	3,247,729
GEODE CAPITAL MANAGEMENT, LLC	$558.4M	3,175,913
JPMORGAN CHASE & CO	$485.9M	2,707,005
Invesco Ltd.	$341.4M	1,934,968
DEUTSCHE BANK AG\	$319.8M	1,812,200

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Is SBAC a good stock to buy?

13F Pro's AI-powered analysis of SBA COMMUNICATIONS CORP (SBAC) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Real Estate sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for SBAC are available on the SBAC stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. SBAC is classified as a large company.

Which hedge funds own SBAC?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling SBAC. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of SBA COMMUNICATIONS CORP's investment landscape.