How does SBA Communications (SBAC) make money?

SBA Communications (SBAC) generates revenue primarily from Domestic Site Leasing Revenue, which accounted for 65% of total revenue in TTM through Q1 2026. The company reported $2.85B in revenue and converted 35.7% of it into net profit, equivalent to roughly $1.02B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of SBA Communications (SBAC)?

SBA Communications (SBAC) reported a gross profit margin of 63.6% in TTM through Q1 2026, equivalent to $1.82B in gross profit on $2.85B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of SBA Communications (SBAC)?

SBA Communications (SBAC) reported an operating profit margin of 47.6% in TTM through Q1 2026, equivalent to $1.36B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of SBA Communications (SBAC)?

SBA Communications (SBAC) reported a net profit margin of 35.7% in TTM through Q1 2026, equivalent to $1.02B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is SBA Communications (SBAC) profitable?

Yes. SBA Communications (SBAC) reported $1.02B in net income for TTM through Q1 2026, with a net profit margin of 35.7%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does SBA Communications (SBAC) spend on capital expenditures?

SBA Communications (SBAC) spent $227M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 8.0% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does SBA Communications (SBAC) generate?

SBA Communications (SBAC) generated $1.02B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 35.7%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of SBA Communications (SBAC)?

SBA Communications (SBAC) had an effective tax rate of 16.1% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of SBA Communications (SBAC)?

SBA Communications (SBAC) reports revenue across 3 reportable product segments, led by Domestic Site Leasing Revenue at 65% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does SBA Communications (SBAC) generate most of its revenue?

Domestic Site Leasing Revenue is the largest geographic market for SBA Communications (SBAC), accounting for 71.8% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How SBA Communications Makes Money: 2026 Visual Revenue Map

SBA Communications (SBAC) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 5, 2026).

SBA Communications (SBAC) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for SBA Communications (SBAC), TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Domestic Site Leasing Revenue	$1.85B	65%
International Site Leasing Revenue	$756M	26.5%
Site Development Construction	$244M	8.5%
Total	$2.85B	100%

Domestic Site Leasing Revenue$1.85B
International Site Leasing Revenue$756M
Site Development Construction$244M
Total$2.85B

SBA Communications (SBAC) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for SBA Communications (SBAC), TTM through Q1 2026
Region	Revenue (USD)	% of total
Domestic Site Leasing Revenue	$2.32B	71.8%
International Site Leasing Revenue	$911M	28.2%
Total	$3.23B	100%

Domestic Site Leasing Revenue
International Site Leasing Revenue
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, SBA Communications (SBAC) reports revenue across 3 reportable product segments; the largest segment was Domestic Site Leasing Revenue at 65%, followed by International Site Leasing Revenue (26.5%) and Site Development Construction (8.5%). Geographically, Domestic Site Leasing Revenue accounted for 71.8% of revenue, followed by International Site Leasing Revenue (28.2%).

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Operating Margin47.6%

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Employees1.8K

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