SBA Communications Corp - Ordinary Shares - Class A
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+ FollowMarket Cap$21.37B
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Earnings Call Q3 2026
November 2, 2026 - AI Summary
Strong Q3 operating/financial performance; AFFO per share and margins led expectations
- Management called Q3 “in line with expectations,” highlighting industry-leading AFFO per share, strong operating margins, and disciplined cost control.
- Company-wide tower cash flow margin ~80% and adjusted EBITDA margin ~69%.
- AFFO per share = $3.19 and cash dividend = $1.25/share.
2026 guidance: largely unchanged, FX/Chile-Ecuador sales were the offset; AFFO per share midpoint raised
- Without FX and the sale of Chile & Ecuador towers, full-year 2026 outlook would be “mostly unchanged.”
- The Chile/Ecuador sale reduced guidance by approx. -$10M site leasing revenue, -$6M tower cash flow, -$4M adjusted EBITDA.
- Raised 2026 AFFO per share midpoint by $0.08 (and AFFO midpoint by ~$2M). Excluding FX + Chile/Ecuador, midpoint is up by ~$0.11.
- Pending Peru sale: not included yet in guidance; expected to close in Q4 2026 subject to regulatory approval.
Shareholder returns: meaningful buybacks + rising dividend
- Capital returned in Q3: ~$430M via dividends and share repurchases.
- Since last report: 1.7M shares repurchased at avg $179.68 for ~$300M; $800M remaining under buyback authorization.
- Dividend growth: Board declared $1.25/share quarterly, payable Dec 10, 2026, record Nov 12, 2026—about +13% YoY, annualized ~41% of the midpoint 2026 AFFO/share outlook.
- CFO noted 2026 outlook does not include any incremental share repurchases beyond those already done to the call date.
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Share Statistics
| Market cap | $21.37 Billion |
|---|---|
| Enterprise Value | $36.41 Billion |
| Annual dividend | $4.86 |
| Dividend yield | 2.60% |
| Earnings per Share | $9.83 |
| Beta | 0.99 |
| Outstanding Shares | 105,945,000 |
Return
| Return on Equity | -21.40% |
|---|---|
| Return on Assets | 8.44% |
| Return on Invested Capital | 22.53% |
Valuation & Multiples
| P/E Ratio | 20.1 |
|---|---|
| PEG | -168.55 |
| Price to Sales | 7.24 |
| Price to Book Ratio | -4.44 |
| Enterprise Value to Revenue | 12.68 |
| Enterprise Value to EBIT | 21.82 |
| Enterprise Value to Net Income | 36 |
| Total Debt to Enterprise | 0.42 |
| Debt to Equity | -3.32 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 2, 2026
EPS Estimate
$2.09
Consensus analyst estimateRevenue Estimate
$724.07 M
Consensus analyst estimateNext Earnings Call
Expected Date
February 25, 2027
EPS Estimate
$2.00
Consensus analyst estimateRevenue Estimate
$713.96 M
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 21.78% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 2.18%▼ 98.48% |
|---|---|
| Total Invested | $370.99M▼ 98.03% |
| Investors Holding | 193▼ 508.00% |
About SBA Communications Corp
1,844 employees
CEO: Jeffrey Stoops
SBA Communications Corporation stands as a prominent owner and operator of wireless communication infrastructure, serving an extensive geographic area encompassing North, Central, and South America, in addition to South Africa. Dedicated...