SBA Communications Corp
SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 44,500 communications sites throughout the Americas and in Africa, SBA is listed on NASDAQ under the symbol SBAC. Our organization is part of the S&P 500 and one … Read more
SBA Communications Corp (SBAC) - Net Assets
Latest net assets as of September 2025: $-4.86 Billion USD
Based on the latest financial reports, SBA Communications Corp (SBAC) has net assets worth $-4.86 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($11.26 Billion) and total liabilities ($16.12 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $-4.86 Billion |
| % of Total Assets | -43.14% |
| Annual Growth Rate | N/A |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 22036.65 |
SBA Communications Corp - Net Assets Trend (1998–2024)
This chart illustrates how SBA Communications Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for SBA Communications Corp (1998–2024)
The table below shows the annual net assets of SBA Communications Corp from 1998 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $-5.06 Billion | +1.56% |
| 2023-12-31 | $-5.14 Billion | +2.07% |
| 2022-12-31 | $-5.24 Billion | +0.41% |
| 2021-12-31 | $-5.27 Billion | -9.50% |
| 2020-12-31 | $-4.81 Billion | -31.72% |
| 2019-12-31 | $-3.65 Billion | -8.12% |
| 2018-12-31 | $-3.38 Billion | -29.92% |
| 2017-12-31 | $-2.60 Billion | -30.22% |
| 2016-12-31 | $-2.00 Billion | -16.98% |
| 2015-12-31 | $-1.71 Billion | -158.19% |
| 2014-12-31 | $-660.80 Million | -285.12% |
| 2013-12-31 | $356.97 Million | -46.30% |
| 2012-12-31 | $664.70 Million | +88408.92% |
| 2011-12-31 | $751.00K | -99.77% |
| 2010-12-31 | $330.13 Million | -44.97% |
| 2009-12-31 | $599.95 Million | +22.00% |
| 2008-12-31 | $491.76 Million | +45.75% |
| 2007-12-31 | $337.39 Million | -12.58% |
| 2006-12-31 | $385.92 Million | +373.92% |
| 2005-12-31 | $81.43 Million | +191.83% |
| 2004-12-31 | $-88.67 Million | -302.09% |
| 2003-12-31 | $43.88 Million | -76.34% |
| 2002-12-31 | $185.47 Million | -58.84% |
| 2001-12-31 | $450.64 Million | -16.26% |
| 2000-12-31 | $538.16 Million | +1007.33% |
| 1999-12-31 | $48.60 Million | +548.00% |
| 1998-12-31 | $7.50 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to SBA Communications Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 729928900000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $1.08 Million | % |
| Other Comprehensive Income | $-760.28 Million | % |
| Other Components | $2.98 Billion | % |
| Total Equity | $-5.11 Billion | 100.00% |
SBA Communications Corp Competitors by Market Cap
The table below lists competitors of SBA Communications Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Allegheny Technologies Incorporated
NYSE:ATI
|
$19.84 Billion |
|
Shanghai Pudong Development Bank Co Ltd
SHG:600000
|
$19.86 Billion |
|
KONE Oyj
PINK:KNYJF
|
$19.86 Billion |
|
Zoom Video Communications Inc
NASDAQ:ZM
|
$19.86 Billion |
|
Yanzhou Coal Mining Company Limited
OTCQX:YZCAY
|
$19.75 Billion |
|
Advanced Micro Fabrication Inc
SHG:688012
|
$19.72 Billion |
|
HEXAGON AB B FRIA O.N.
F:HXG
|
$19.71 Billion |
|
Danske Bank A/S
PINK:DNSKF
|
$19.70 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in SBA Communications Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from -5,170,882,000 to -5,109,938,000, a change of 60,944,000.
- Net income of 749,536,000 contributed positively to equity growth.
- Dividend payments of 424,191,000 reduced retained earnings.
- Share repurchases of 200,019,000 reduced equity.
- Other comprehensive income decreased equity by 145,082,000.
- Other factors increased equity by 80,700,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $749.54 Million | +14.67% |
| Dividends Paid | $424.19 Million | -8.3% |
| Share Repurchases | $200.02 Million | -3.91% |
| Other Comprehensive Income | $-145.08 Million | -2.84% |
| Other Changes | $80.70 Million | +1.58% |
| Total Change | $- | % |
Book Value vs Market Value Analysis
This analysis compares SBA Communications Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1998-12-31 | $0.88 | $187.15 | x |
| 1999-12-31 | $2.82 | $187.15 | x |
| 2000-12-31 | $13.08 | $187.15 | x |
| 2001-12-31 | $9.52 | $187.15 | x |
| 2002-12-31 | $3.67 | $187.15 | x |
| 2003-12-31 | $0.84 | $187.15 | x |
| 2004-12-31 | $-1.52 | $187.15 | x |
| 2005-12-31 | $1.10 | $187.15 | x |
| 2006-12-31 | $3.93 | $187.15 | x |
| 2007-12-31 | $3.22 | $187.15 | x |
| 2008-12-31 | $4.48 | $187.15 | x |
| 2009-12-31 | $5.11 | $187.15 | x |
| 2010-12-31 | $2.74 | $187.15 | x |
| 2011-12-31 | $-0.10 | $187.15 | x |
| 2012-12-31 | $5.43 | $187.15 | x |
| 2013-12-31 | $2.79 | $187.15 | x |
| 2014-12-31 | $-5.13 | $187.15 | x |
| 2015-12-31 | $-13.35 | $187.15 | x |
| 2016-12-31 | $-15.95 | $187.15 | x |
| 2017-12-31 | $-21.48 | $187.15 | x |
| 2018-12-31 | $-28.98 | $187.15 | x |
| 2019-12-31 | $-31.97 | $187.15 | x |
| 2020-12-31 | $-42.52 | $187.15 | x |
| 2021-12-31 | $-47.52 | $187.15 | x |
| 2022-12-31 | $-48.24 | $187.15 | x |
| 2023-12-31 | $-47.48 | $187.15 | x |
| 2024-12-31 | $-47.28 | $187.15 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently SBA Communications Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 0.00%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 27.97%
- • Asset Turnover: 0.23x
- • Equity Multiplier: 0.00x
- Recent ROE (0.00%) is above the historical average (-45.23%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1998 | -265.33% | -33.67% | 0.28x | 28.60x | $-20.65 Million |
| 1999 | -70.99% | -39.66% | 0.20x | 8.84x | $-39.36 Million |
| 2000 | -5.37% | -17.22% | 0.18x | 1.76x | $-82.73 Million |
| 2001 | -27.77% | -51.52% | 0.17x | 3.17x | $-170.21 Million |
| 2002 | -147.28% | -103.21% | 0.20x | 7.04x | $-291.71 Million |
| 2003 | -392.39% | -81.19% | 0.22x | 22.40x | $-176.56 Million |
| 2004 | 0.00% | -63.62% | 0.25x | 0.00x | $-138.41 Million |
| 2005 | -116.31% | -36.43% | 0.27x | 11.70x | $-102.85 Million |
| 2006 | -34.58% | -38.01% | 0.17x | 5.30x | $-172.04 Million |
| 2007 | -23.08% | -19.08% | 0.17x | 7.07x | $-111.62 Million |
| 2008 | -9.51% | -9.85% | 0.15x | 6.53x | $-95.94 Million |
| 2009 | -23.52% | -25.36% | 0.17x | 5.53x | $-200.77 Million |
| 2010 | -61.39% | -31.07% | 0.18x | 10.72x | $-226.38 Million |
| 2011 | 0.00% | -18.11% | 0.19x | 0.00x | $-125.32 Million |
| 2012 | -28.08% | -19.22% | 0.14x | 10.10x | $-248.63 Million |
| 2013 | -15.66% | -4.28% | 0.19x | 19.00x | $-91.61 Million |
| 2014 | 0.00% | -1.59% | 0.19x | 0.00x | $41.78 Million |
| 2015 | 0.00% | -10.72% | 0.22x | 0.00x | $-5.04 Million |
| 2016 | 0.00% | 4.67% | 0.22x | 0.00x | $275.83 Million |
| 2017 | 0.00% | 6.00% | 0.24x | 0.00x | $363.57 Million |
| 2018 | 0.00% | 2.54% | 0.26x | 0.00x | $385.13 Million |
| 2019 | 0.00% | 7.30% | 0.21x | 0.00x | $513.69 Million |
| 2020 | 0.00% | 1.16% | 0.23x | 0.00x | $506.54 Million |
| 2021 | 0.00% | 10.29% | 0.24x | 0.00x | $765.96 Million |
| 2022 | 0.00% | 17.52% | 0.25x | 0.00x | $989.06 Million |
| 2023 | 0.00% | 18.51% | 0.27x | 0.00x | $1.02 Billion |
| 2024 | 0.00% | 27.97% | 0.23x | 0.00x | $1.26 Billion |
Industry Comparison
This section compares SBA Communications Corp's net assets metrics with peer companies in the REIT - Specialty industry.
Industry Context
- Industry: REIT - Specialty
- Average net assets among peers: $2,464,316,437
- Average return on equity (ROE) among peers: 25.18%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| SBA Communications Corp (SBAC) | $-4.86 Billion | -265.33% | N/A | $19.80 Billion |
| American Tower Corp (AMT) | $3.68 Billion | 17.30% | 2.82x | $86.39 Billion |
| Automotive Properties Real Estate Investment Trust (APPTF) | $663.40 Million | 10.85% | 0.79x | $198.09 Million |
| Crown Castle (CCI) | $11.57 Billion | 5.38% | 1.83x | $36.18 Billion |
| DIGITAL CORE REIT (DGTCF) | $1.28 Billion | 16.05% | 0.57x | $460.68 Million |
| Digital Realty Trust Inc (DLR) | $1.56 Billion | 4.33% | 1.10x | $55.29 Billion |
| EPR Properties (EPR) | $1.47 Billion | 0.55% | 0.83x | $4.20 Billion |
| Equinix Inc (EQIX) | $2.75 Billion | 6.84% | 2.77x | $92.84 Billion |
| Charter Hall Social Infrastructure REIT (FKKEF) | $1.43 Billion | 4.96% | 0.49x | $693.51 Million |
| Farmland Partners Inc (FPI) | $333.37K | 175.89% | 109.73x | $467.58 Million |
| Gaming & Leisure Properties (GLPI) | $236.33 Million | 9.70% | 0.13x | $12.88 Billion |