SBA Communications Valuation Multiples

SBA Communications Overview

About SBA Communications

SBA Communications owns a portfolio of about 45,000 wireless towers throughout North America, South America, and Africa. It leases space on its towers to wireless service providers, who install equipment to support their wireless networks. The company has a very concentrated customer base, with most revenue in each market being generated by the top few mobile carriers. It owns more than 17,000 towers in the US, which account for about 75% of leasing revenue. Internationally, SBA’s largest presence is in Brazil, where it owns roughly 10,000 towers. SBA operates as a real estate investment trust.

Founded

1997

HQ

Employees

1.7K

Website

sbasite.com

Sectors

Buildings & PropertyData CentersTelecom Infrastructure

Financials (LTM)

Revenue: $3B

EBITDA: $2B

EV

$36B

Valuation Multiples

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SBA Communications Financials

SBA Communications reported last 12-month revenue of $3B and EBITDA of $2B.

In the same LTM period, SBA Communications generated $2B in gross profit, $2B in EBITDA, and $1B in net income.

SBA Communications P&L

In the most recent fiscal year, SBA Communications reported revenue of $3B and EBITDA of $2B.

SBA Communications expects next 12-month revenue of XXX and NTM EBITDA of XXX

SBA Communications Stock Performance

SBA Communications has current market cap of $21B, and enterprise value of $36B.

SBA Communications' stock price is $198.71.

SBA Communications Valuation Multiples

SBA Communications trades at 12.7x EV/Revenue multiple, and 18.7x EV/EBITDA.

SBA Communications Financial Valuation Multiples

As of March 14, 2026, SBA Communications has market cap of $21B and EV of $36B.

Equity research analysts estimate SBA Communications' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

SBA Communications has a P/E ratio of 21.1x.

SBA Communications Margins & Growth Rates

SBA Communications' revenue in the last 12 month grew by 1%.

SBA Communications' revenue per employee in the last FY averaged $1.6M.

SBA Communications' rule of 40 is 69% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

SBA Communications' rule of X is 71% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

SBA Communications Public Comps

See public comps and valuation multiples for other Buildings & Property and Data Centers comps.

SBA Communications M&A Activity

SBA Communications acquired XXX companies to date.

Last acquisition by SBA Communications was on XXXXXXXX, XXXXX. SBA Communications acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

SBA Communications Investment Activity

SBA Communications invested in XXX companies to date.

SBA Communications made its latest investment on XXXXXXXX, XXXXX. SBA Communications invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).