SBA Communications Corp (SBAC) - Net Assets
Based on the latest financial reports, SBA Communications Corp (SBAC) has net assets worth $-4.63 Billion USD as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($11.74 Billion) and total liabilities ($16.37 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. Check SBAC strategic asset allocation to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $-4.63 Billion |
| % of Total Assets | -39.43% |
| 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 (1998–2025)
This chart illustrates how SBA Communications Corp's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see SBA Communications Corp (SBAC) market capitalisation.
Annual Net Assets for SBA Communications Corp (1998–2025)
The table below shows the annual net assets of SBA Communications Corp from 1998 to 2025. Also explore SBAC year-over-year net asset growth to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $-4.78 Billion | +5.55% |
| 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 722300500000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $1.06 Million | % |
| Other Comprehensive Income | $-664.10 Million | % |
| Other Components | $3.06 Billion | % |
| Total Equity | $-4.85 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 |
|---|---|
|
EDP-ENERG.PORTUG. ADR/10
F:EDPA
|
$19.10 Billion |
|
Southwest Airlines Company
NYSE:LUV
|
$19.14 Billion |
|
China Coal Energy Co Ltd
SHG:601898
|
$19.14 Billion |
|
Qinghai Salt Lake Industry Co.Ltd
SHE:000792
|
$19.16 Billion |
|
NN GROUP NV UNSP.ADR/1
F:2NN0
|
$19.09 Billion |
|
Fidelity National Information Services Inc
NYSE:FIS
|
$19.08 Billion |
|
ZTE Corp
SHE:000063
|
$19.08 Billion |
|
China United Network Communications Ltd
SHG:600050
|
$19.08 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 2024 to 2025, total equity changed from -5,109,938,000 to -4,853,519,000, a change of 256,419,000.
- Net income of 1,053,632,000 contributed positively to equity growth.
- Dividend payments of 479,012,000 reduced retained earnings.
- Share repurchases of 497,805,000 reduced equity.
- Other comprehensive income increased equity by 96,182,000.
- Other factors increased equity by 83,422,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.05 Billion | +21.71% |
| Dividends Paid | $479.01 Million | -9.87% |
| Share Repurchases | $497.81 Million | -10.26% |
| Other Comprehensive Income | $96.18 Million | +1.98% |
| Other Changes | $83.42 Million | +1.72% |
| 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 | $180.02 | x |
| 1999-12-31 | $2.82 | $180.02 | x |
| 2000-12-31 | $13.08 | $180.02 | x |
| 2001-12-31 | $9.52 | $180.02 | x |
| 2002-12-31 | $3.67 | $180.02 | x |
| 2003-12-31 | $0.84 | $180.02 | x |
| 2004-12-31 | $-1.52 | $180.02 | x |
| 2005-12-31 | $1.10 | $180.02 | x |
| 2006-12-31 | $3.93 | $180.02 | x |
| 2007-12-31 | $3.22 | $180.02 | x |
| 2008-12-31 | $4.48 | $180.02 | x |
| 2009-12-31 | $5.11 | $180.02 | x |
| 2010-12-31 | $2.86 | $180.02 | x |
| 2011-12-31 | $-0.10 | $180.02 | x |
| 2012-12-31 | $5.43 | $180.02 | x |
| 2013-12-31 | $2.79 | $180.02 | x |
| 2014-12-31 | $-5.13 | $180.02 | x |
| 2015-12-31 | $-13.35 | $180.02 | x |
| 2016-12-31 | $-15.95 | $180.02 | x |
| 2017-12-31 | $-21.48 | $180.02 | x |
| 2018-12-31 | $-28.98 | $180.02 | x |
| 2019-12-31 | $-31.97 | $180.02 | x |
| 2020-12-31 | $-42.52 | $180.02 | x |
| 2021-12-31 | $-47.52 | $180.02 | x |
| 2022-12-31 | $-48.24 | $180.02 | x |
| 2023-12-31 | $-47.48 | $180.02 | x |
| 2024-12-31 | $-47.28 | $180.02 | x |
| 2025-12-31 | $-45.14 | $180.02 | 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: 37.43%
- • Asset Turnover: 0.24x
- • Equity Multiplier: 0.00x
- Recent ROE (0.00%) is above the historical average (-43.53%), 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 | -58.97% | -31.07% | 0.18x | 10.30x | $-227.69 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 |
| 2025 | 0.00% | 37.43% | 0.24x | 0.00x | $1.54 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: $2,932,174,800
- Average return on equity (ROE) among peers: 5.53%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| SBA Communications Corp (SBAC) | $-4.63 Billion | -265.33% | N/A | $19.10 Billion |
| American Tower Corp (AMT) | $4.05 Billion | 20.35% | 4.26x | $82.18 Billion |
| Crown Castle (CCI) | $9.46 Billion | 11.16% | 3.10x | $32.00 Billion |
| Digital Realty Trust Inc (DLR) | $10.87 Billion | 3.05% | 1.19x | $67.00 Billion |
| EPR Properties (EPR) | $258.13 Million | 9.14% | 1.26x | $4.37 Billion |
| Equinix Inc (EQIX) | $375.12 Million | -31.93% | 0.82x | $100.27 Billion |
| Farmland Partners Inc (FPI) | $630.81 Million | 4.90% | 0.62x | $462.30 Million |
| Fermi Inc. (FRMI) | $1.10 Billion | -44.38% | 0.29x | $3.04 Billion |
| Gaming & Leisure Properties (GLPI) | $219.91 Million | 12.13% | 0.19x | $11.74 Billion |
| Iron Mountain Incorporated (IRM) | $1.14 Billion | 30.15% | 11.45x | $29.90 Billion |
| Lamar Advertising Company (LAMR) | $1.22 Billion | 40.74% | 4.39x | $12.84 Billion |
About SBA Communications Corp
SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems and small cells. With a portfolio of more than 46,000 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 of the… Read more