SBA Communications (SBAC) FY2017 results: revenue $1.7 billion, up 5.8% on the year
SBA Communications Corp. (SBAC) reported revenue of $1.7 billion for fiscal 2017, the year ended 31 December 2017, up 5.8% on the year before. Net income was $104 million, up 36.0%, and diluted earnings per share $0.86. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2018.
Revenue
$1.7 billion
+5.8% on the year
FY2010FY2017
Operating margin
26.5%
23.7% a year earlier
FY2010FY2017
Net income
$104 million
+36.0% on the year
FY2010FY2017
Diluted EPS
$0.86
+41.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,728
1,633
1,638
+5.8%
Cost of revenue
446
421
444
+6.0%
Gross profit
1,281
1,212
1,194
+5.7%
Gross margin
74.2%
74.2%
72.9%
Selling, general and administrative
131
143
115
-8.8%
Operating income
459
387
312
+18.4%
Operating margin
26.5%
23.7%
19.1%
Pre-tax income
117
87.3
-167
+33.9%
Income tax
13.2
11.1
9.1
+19.6%
Effective tax rate
11.3%
12.7%
n/a
Net income
104
76.2
-176
+36.0%
Net margin
6.0%
4.7%
-10.7%
Diluted EPS
$0.86
$0.61
-$1.37
+41.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
818
743
723
+10.2%
Capital expenditure
147
140
209
+5.0%
Free cash flow
671
603
514
+11.4%
Free cash flow margin
38.9%
36.9%
31.4%
Cash from investing
-605
-428
-737
Cash from financing
-295
-289
75.8
Depreciation and amortisation
643
638
660
+0.8%
Share-based compensation
38.2
32.9
28.7
+16.2%
Buybacks
855
546
450
+56.6%
Diluted shares, weighted
121m
125m
128m
-3.3%
Shares outstanding at period end
116m
n/a
n/a
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
-2,599
-1,996
-1,706
Debt
9,311
8,776
8,452
+6.1%
Other liabilities
609
581
567
+4.7%
Total liabilities and equity
7,320
7,361
7,313
-0.6%
Fixed assets
2,812
2,792
2,782
+0.7%
Intangible assets
3,598
3,657
3,735
-1.6%
Investments
n/a
8.1
8.8
Securities held for sale or to maturity
0.5
n/a
n/a
Cash and equivalents
68.8
146
118
-52.9%
Receivables
90.7
78.3
83.3
+15.7%
Other assets
750
679
585
+10.4%
Total assets
7,320
7,361
7,313
-0.6%
10-K for the year ended 31 December 2017, filed 1 March 2018: the filing.