SBA Communications (SBAC) FY2016 results: revenue $1.6 billion, down 0.3% on the year
SBA Communications Corp. (SBAC) reported revenue of $1.6 billion for fiscal 2016, the year ended 31 December 2016, down 0.3% on the year before. Net income was $76 million, and diluted earnings per share $0.61. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2017.
Revenue
$1.6 billion
-0.3% on the year
FY2009FY2016
Operating margin
23.7%
19.1% a year earlier
FY2009FY2016
Net income
$76 million
FY2009FY2016
Diluted EPS
$0.61
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
1,633
1,638
1,527
-0.3%
Cost of revenue
421
444
428
-5.3%
Gross profit
1,212
1,194
1,099
+1.5%
Gross margin
74.2%
72.9%
71.9%
Selling, general and administrative
143
115
103
+24.7%
Operating income
387
312
337
+24.0%
Operating margin
23.7%
19.1%
22.0%
Pre-tax income
87.3
-167
-15.7
Income tax
11.1
9.1
8.6
+22.1%
Effective tax rate
12.7%
n/a
n/a
Net income
76.2
-176
-24.3
Net margin
4.7%
-10.7%
-1.6%
Diluted EPS
$0.61
-$1.37
-$0.19
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
743
723
674
+2.7%
Capital expenditure
140
209
211
-32.9%
Free cash flow
603
514
463
+17.2%
Free cash flow margin
36.9%
31.4%
30.3%
Cash from investing
-428
-737
n/a
Cash from financing
-289
75.8
n/a
Depreciation and amortisation
638
660
627
-3.3%
Share-based compensation
32.9
28.7
22.7
+14.5%
Buybacks
546
450
n/a
+21.2%
Diluted shares, weighted
125m
128m
129m
-2.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
-1,996
-1,706
-661
Debt
8,776
8,452
7,861
+3.8%
Other liabilities
581
567
641
+2.5%
Total liabilities and equity
7,361
7,313
7,841
+0.7%
Fixed assets
2,792
2,782
2,762
+0.3%
Intangible assets
3,657
3,735
4,190
-2.1%
Investments
8.1
8.8
49.6
-8.4%
Cash and equivalents
146
118
39.4
+23.8%
Receivables
78.3
83.3
104
-6.0%
Other assets
679
585
696
+16.1%
Total assets
7,361
7,313
7,841
+0.7%
10-K for the year ended 31 December 2016, filed 1 March 2017: the filing.