February 03, 2026 a 07:31 am
SBAC: Dividend Analysis - SBA Communications Corporation
SBA Communications Corporation presents a compelling dividend profile characterized by a moderate yield and steady growth. With its stable dividend history, SBA offers investors reliable income, while its consistent payout ratio showcases prudent financial management. However, the company's high leverage might be a risk factor that requires careful monitoring.
Overview 📊
Investors looking for income should note SBA Communications' well-rounded dividend attributes, including growth potential and yield consistency.
| Metric | Value |
|---|---|
| Sector | Real Estate |
| Dividend Yield | 2.29% |
| Current Dividend per Share | 3.93 USD |
| Dividend History | 7 years |
| Last Cut or Suspension | None |
Dividend History 🗣️
SBA Communications has shown commitment to returning value to shareholders, demonstrated by its increasing dividends over the past years.
| Year | Dividend per Share (USD) |
|---|---|
| 2025 | 4.44 |
| 2024 | 3.92 |
| 2023 | 3.40 |
| 2022 | 2.84 |
| 2021 | 2.32 |
Dividend Growth 📈
The consistent upward trajectory of SBA's dividend growth marks it as a reliable entity for long-term investors seeking income appreciation.
| Time | Growth |
|---|---|
| 3 years | 16.06% |
| 5 years | 19.01% |
The average dividend growth is 19.01% over 5 years. This shows moderate but steady dividend growth.
Payout Ratio ✅
SBA's payout ratios suggest a balanced approach in sharing profits with investors while retaining capital for growth.
| Key Figure | Ratio |
|---|---|
| EPS-based | 49.27% |
| Free Cash Flow-based | 38.76% |
The payout ratios of 49.27% (EPS) and 38.76% (FCF) indicate a sustainable dividend policy, suggesting financial discipline and stability.
Cashflow & Capital Efficiency ⚠️
Cash flow assessment is vital for understanding company sustainability and capital allocation efficiency. SBA's figures reveal its capacity to generate and prudently utilize cash flows.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Free Cash Flow Yield | 5.03% | 4.73% | 3.50% |
| Earnings Yield | 3.41% | 1.82% | 1.51% |
| CAPEX to Operating Cash Flow | 16.77% | 15.33% | 16.68% |
| Stock-based Compensation to Revenue | 2.78% | 3.24% | 3.79% |
| Free Cash Flow / Operating Cash Flow Ratio | 82.91% | 84.67% | 83.32% |
| Return on Invested Capital | 12.57% | 8.61% | 7.95% |
SBA demonstrates robust cash flow efforts, yet its capital efficiency metrics highlight areas for potential improvement in maximizing shareholder value.
Balance Sheet & Leverage Analysis 💪
The balance sheet analysis provides crucial insights into financial health, highlighting leverage risks and liquidity strengths or weaknesses.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Debt-to-Equity | -3.08 | -2.80 | -2.88 |
| Debt-to-Assets | 1.38 | 1.42 | 1.43 |
| Debt-to-Capital | 1.48 | 1.56 | 1.53 |
| Net Debt to EBITDA | 8.67 | 7.96 | 8.97 |
| Current Ratio | 1.10 | 0.36 | 0.69 |
| Quick Ratio | 1.10 | 0.36 | 0.69 |
| Financial Leverage | -2.23 | -1.97 | -2.01 |
Increased leverage poses risks but could also amplify shareholder returns if managed properly. Liquidity remains an area that requires attention.
Fundamental Strength & Profitability 🧩
Fundamental strength is the bedrock for operational performance and strategic growth, influencing overall corporate profitability.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Return on Equity | -14.67% | -9.70% | -8.75% |
| Return on Assets | 6.56% | 4.93% | 4.36% |
| Net Margin | 27.97% | 18.51% | 17.52% |
| EBIT Margin | 56.91% | 39.65% | 36.77% |
| EBITDA Margin | 66.97% | 66.07% | 63.64% |
| Gross Margin | 77.32% | 76.61% | 73.59% |
| R&D to Revenue | 0% | 0% | 0% |
Strong profit margins indicate healthy operations, but negative equity returns highlight challenges in value creation management must address.
Price Development 📉
Dividend Scoring System 🗳️
| Criteria | Score | Indicator |
|---|---|---|
| Dividend Yield | 3 | |
| Dividend Stability | 4 | |
| Dividend Growth | 4 | |
| Payout Ratio | 4 | |
| Financial Stability | 3 | |
| Dividend Continuity | 5 | |
| Cashflow Coverage | 4 | |
| Balance Sheet Quality | 2 |
Total Score: 29/40
Rating 📌
SBA Communications Corporation receives a solid dividend score due to its reliable dividend history and growth. While financial leverage is a concern, the company's careful dividend management makes it an attractive pick for income-focused investors seeking stability with growth potential.