Question 1

What is SBA Communications's P/FCF ratio?

Accepted Answer

SBA Communications (SBAC) P/FCF ratio is 21.7× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for SBA Communications?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For SBA Communications specifically, the relevant sector benchmark is the current sector median of 17.0×.

Question 5

Is SBA Communications's P/FCF ratio high or low?

Accepted Answer

SBA Communications's P/FCF ratio of 21.7× is below its own 5-year average of 25.2× and above the sector median of 17.0×. That places the current reading at the 43th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is SBA Communications's historical P/FCF ratio range?

Accepted Answer

In the available daily series, SBA Communications (SBAC) P/FCF ratio has ranged from a low of 0.2× in 2002 to a high of 160.3× in 2005. The 5-year average is 25.2× and the 5-year median is 21.8×.

Question 7

What was SBA Communications's P/FCF ratio in 2025?

Accepted Answer

SBA Communications (SBAC) P/FCF ratio at the end of 2025 was 19.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does SBA Communications's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$20.56B	$1.07B	19.3×	-0.6×	Dec 31, 2025
2024	$21.98B	$1.11B	19.9×	-1.8×	Dec 31, 2024
2023	$27.53B	$1.27B	21.7×	-6.8×	Dec 31, 2023
2022	$30.48B	$1.07B	28.5×	-12.5×	Dec 31, 2022
2021	$43.29B	$1.06B	41.0×	+9.1×	Dec 31, 2021
2020	$31.85B	$997.47M	31.9×	-1.1×	Dec 31, 2020
2019	$27.45B	$830.66M	33.1×	+6.5×	Dec 31, 2019
2018	$18.67B	$702.33M	26.6×	-1.9×	Dec 31, 2018
2017	$19.15B	$671.43M	28.5×	+7.0×	Dec 31, 2017
2016	$12.67B	$589.04M	21.5×	-3.5×	Dec 31, 2016
2015	$13.24B	$528.47M	25.1×	-5.2×	Dec 31, 2015
2014	$14.30B	$473.41M	30.2×	-4.9×	Dec 31, 2014
2013	$11.54B	$328.72M	35.1×	-4.4×	Dec 31, 2013
2012	$8.99B	$227.60M	39.5×	+1.0×	Dec 31, 2012
2011	$4.70B	$122.12M	38.5×	+3.7×	Dec 31, 2011
2010	$4.68B	$134.54M	34.8×	+12.1×	Dec 31, 2010
2009	$3.99B	$175.81M	22.7×	+8.9×	Dec 31, 2009
2008	$1.90B	$137.53M	13.8×	-23.9×	Dec 31, 2008
2007	$3.59B	$95.16M	37.7×	-23.8×	Dec 31, 2007
2006	$2.89B	$46.99M	61.5×	+10.9×	Dec 31, 2006
2005	$1.52B	$30.12M	50.6×	-33.8×	Dec 31, 2005
2004	$590.77M	$7.00M	84.4×	—	Dec 31, 2004
2003	$203.59M	−$44.94M	—	—	Dec 31, 2003
2002	$20.96M	−$101.83M	—	—	Dec 31, 2002
2001	$621.94M	$13.00M	47.8×	—	Dec 31, 2001


Kimco Realty (KIM)	19.3×
Simon Property Group (SPG)	18.5×
BXP (BXP)	17.7×
Equity Residential (EQR)	17.6×
Federal Realty Investment Trust (FRT)	17.3×
STAG Industrial (STAG)	17.2×
Tanger (SKT)	17.0×
Essex Property Trust (ESS)	16.2×
Extra Space Storage (EXR)	15.8×
Public Storage (PSA)	15.5×
AvalonBay Communities (AVB)	15.2×
Camden Property Trust (CPT)	14.3×
Realty Income (O)	13.6×
Invitation Homes (INVH)	13.3×
Crown Castle (CCI)	13.0×
Medical Properties Trust (MPT)	12.8×
Host Hotels & Resorts (HST)	12.7×
UDR (UDR)	12.4×
NNN REIT (NNN)	12.2×
VICI Properties (VICI)	11.4×
Universal Health Realty Income Trust (UHT)	11.3×
Healthpeak Properties (DOC)	9.7×
Arbor Realty Trust (ABR)	7.6×
Alexandria Real Estate Equities (ARE)	6.2×
Opendoor Technologies (OPEN)	4.2×

P/FCF Ratio for SBA Communications (SBAC)

P/FCF Ratio daily chart for SBA Communications (SBAC)

Historical P/FCF Ratio for SBA Communications (SBAC) from 2001 to 2025

About P/FCF Ratio at SBA Communications (SBAC)

SBA Communications P/FCF Ratio by Year

SBA Communications P/FCF Ratio 2025: 19.3×

SBA Communications P/FCF Ratio 2024: 19.9×

SBA Communications P/FCF Ratio 2023: 21.7×

SBA Communications P/FCF Ratio 2022: 28.5×

SBA Communications P/FCF Ratio 2021: 41.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

SBA Communications (SBAC) Key Financials

P/FCF Ratio daily chart for SBA Communications (SBAC)

Historical P/FCF Ratio for SBA Communications (SBAC) from 2001 to 2025

About P/FCF Ratio at SBA Communications (SBAC)

SBA Communications P/FCF Ratio by Year

SBA Communications P/FCF Ratio 2025: 19.3×

SBA Communications P/FCF Ratio 2024: 19.9×

SBA Communications P/FCF Ratio 2023: 21.7×

SBA Communications P/FCF Ratio 2022: 28.5×

SBA Communications P/FCF Ratio 2021: 41.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is SBA Communications's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for SBA Communications?

+Is SBA Communications's P/FCF ratio high or low?

+What is SBA Communications's historical P/FCF ratio range?

+What was SBA Communications's P/FCF ratio in 2025?

+Why does SBA Communications's P/FCF ratio change over time?

SBA Communications (SBAC) Key Financials