Question 1

What is SBA Communications's P/B ratio?

Accepted Answer

SBA Communications (SBAC) P/B ratio is currently not available. A negative or zero P/B occurs when accumulated losses, large buybacks, or special dividends have driven shareholders' equity below zero. In that case P/B is reported as N/A and analysts use P/S or EV/EBITDA as substitutes.

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. 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/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

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

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For SBA Communications specifically, the relevant sector benchmark is the current sector median of 2.1×.

Question 5

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

Accepted Answer

In the available daily series, SBA Communications (SBAC) P/B ratio has ranged from a low of 0.1× in 2002 to a high of 603.4× in 2011.

Question 6

What was SBA Communications's P/B ratio in 2013?

Accepted Answer

SBA Communications (SBAC) P/B ratio at the end of 2013 was 32.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 7

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). 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.

Question 8

Why is SBA Communications's P/B ratio not available?

Accepted Answer

A negative or zero P/B occurs when accumulated losses, large buybacks, or special dividends have driven shareholders' equity below zero. In that case P/B is reported as N/A and analysts use P/S or EV/EBITDA as substitutes.


2025	$20.56B	−$4.85B	—	—	Dec 31, 2025
2024	$21.98B	−$5.11B	—	—	Dec 31, 2024
2023	$27.53B	−$5.17B	—	—	Dec 31, 2023
2022	$30.48B	−$5.28B	—	—	Dec 31, 2022
2021	$43.29B	−$5.28B	—	—	Dec 31, 2021
2020	$31.85B	−$4.82B	—	—	Dec 31, 2020
2019	$27.45B	−$3.67B	—	—	Dec 31, 2019
2018	$18.67B	−$3.38B	—	—	Dec 31, 2018
2017	$19.15B	−$2.60B	—	—	Dec 31, 2017
2016	$12.67B	−$2.00B	—	—	Dec 31, 2016
2015	$13.24B	−$1.71B	—	—	Dec 31, 2015
2014	$14.30B	−$660.80M	—	—	Dec 31, 2014
2013	$11.54B	$356.97M	32.3×	+18.6×	Dec 31, 2013
2012	$8.99B	$652.99M	13.8×	—	Dec 31, 2012
2011	$4.70B	−$11.31M	—	—	Dec 31, 2011
2010	$4.68B	$317.11M	14.8×	+8.1×	Dec 31, 2010
2009	$3.99B	$599.03M	6.7×	+2.8×	Dec 31, 2009
2008	$1.90B	$491.76M	3.9×	-6.8×	Dec 31, 2008
2007	$3.59B	$337.39M	10.6×	+3.1×	Dec 31, 2007
2006	$2.89B	$385.92M	7.5×	-11.2×	Dec 31, 2006
2005	$1.52B	$81.43M	18.7×	—	Dec 31, 2005
2004	$590.77M	−$88.67M	—	—	Dec 31, 2004
2003	$203.59M	$43.88M	4.6×	+4.5×	Dec 31, 2003
2002	$20.96M	$185.47M	0.1×	-1.3×	Dec 31, 2002
2001	$621.94M	$450.64M	1.4×	—	Dec 31, 2001


Essex Property Trust (ESS)	2.9×
Federal Realty Investment Trust (FRT)	2.8×
Digital Realty Trust (DLR)	2.7×
Mid-America Apartment Communities (MAA)	2.6×
Camden Property Trust (CPT)	2.5×
Prologis (PLD)	2.3×
CoStar Group (CSGP)	2.1×
Equity Residential (EQR)	2.1×
Regency Centers (REG)	2.1×
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Host Hotels & Resorts (HST)	1.9×
STAG Industrial (STAG)	1.9×
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Agree Realty (ADC)	1.4×
Realty Income (O)	1.4×
VICI Properties (VICI)	1.0×
Apartment Investment and Management (AIV)	0.8×
Medical Properties Trust (MPT)	0.6×
Alexandria Real Estate Equities (ARE)	0.6×
Arbor Realty Trust (ABR)	0.5×

P/B Ratio for SBA Communications (SBAC)

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

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

About P/B Ratio at SBA Communications (SBAC)

SBA Communications P/B Ratio by Year

SBA Communications P/B Ratio 2013: 32.3×

SBA Communications P/B Ratio 2012: 13.8×

SBA Communications P/B Ratio 2010: 14.8×

SBA Communications P/B Ratio 2009: 6.7×

SBA Communications P/B Ratio 2008: 3.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

SBA Communications (SBAC) Key Financials

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

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

About P/B Ratio at SBA Communications (SBAC)

SBA Communications P/B Ratio by Year

SBA Communications P/B Ratio 2013: 32.3×

SBA Communications P/B Ratio 2012: 13.8×

SBA Communications P/B Ratio 2010: 14.8×

SBA Communications P/B Ratio 2009: 6.7×

SBA Communications P/B Ratio 2008: 3.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

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

+How is the P/B ratio calculated?

+What is the P/B ratio?

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

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

+What was SBA Communications's P/B ratio in 2013?

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

+Why is SBA Communications's P/B ratio not available?

SBA Communications (SBAC) Key Financials