Aureus
BGood

SBA Communications Corporation(SBAC)

B

Financial data as of Dec 31, 2024Stable · Real Estate

FCF Margin41.3%Free Cash Flow / Revenue
Cash Conversion178.1%Operating CF / Net Income
Free Cash Flow$1.1B
Revenue$2.7B
Net Cash-$15.6BNet debt position
Debt / FCF14.2xElevated debt burden
Current Ratio1.10Adequate short-term liquidity
YoY FCF Growth+7.5%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
-2Very high debt-to-FCF ratio (14.2x)
→
+0.5Highly consistent quarterly FCF
→
FinalB

Analysis Summary

Strengths

  • Exceptional FCF margin (41.3%)
  • Excellent cash conversion (178%)
  • Highly consistent quarterly FCF

Concerns

  • Heavy debt position ($15.6B)
  • High debt-to-FCF ratio (14.2x)

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin41.3%
Net Margin28.0%
Operating CF Margin49.8%
CapEx Ratio8.5%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$15.6BNet debt position
Debt / FCF14.2xElevated debt burden
Current Ratio1.10Adequate liquidity
Debt / Equity0.00Low leverage

Quarterly FCF Trend

+7.5% YoYStable (+7.5%)

Free cash flow per quarter

Sector Comparison — Real Estate

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NameSBA Communications Corporation
SectorReal Estate
Free Cash Flow$1.1B
Revenue$2.7B
Net Income$749.5M
Operating Cash Flow$1.3B
Capital Expenditure$228.1M
FCF Margin41.3%
Cash Conversion Rate178.1%
Net Margin28.0%
Total Debt$15.8B
Total Cash$189.8M
Net Cash-$15.6B
Current Ratio1.10
Debt / Equity0.00
Debt / FCF14.2x
YoY FCF Growth+7.5%
Positive Quarters5 of 5
Trend DirectionStable
Report DateDec 31, 2024
GradeB
Data SourceYahoo Finance