SBA Communications (SBAC) FY2021 results: revenue $2.3 billion, up 10.8% on the year
SBA Communications Corp. (SBAC) reported revenue of $2.3 billion for fiscal 2021, the year ended 31 December 2021, up 10.8% on the year before. Net income was $238 million, up 885.8%, and diluted earnings per share $2.14. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2022.
Revenue
$2.3 billion
+10.8% on the year
FY2014FY2021
Operating margin
33.9%
30.4% a year earlier
FY2014FY2021
Net income
$238 million
+885.8% on the year
FY2014FY2021
Diluted EPS
$2.14
+919.0% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,190
1,126
970
+5.7%
Capital expenditure
134
129
154
+4.0%
Free cash flow
1,056
997
816
+5.9%
Free cash flow margin
45.7%
47.9%
40.5%
Cash from investing
-1,423
-446
-947
Cash from financing
339
-469
-62.3
Depreciation and amortisation
700
722
697
-3.0%
Share-based compensation
84.4
68.9
73.2
+22.5%
Buybacks
583
859
467
-32.2%
Dividends paid
254
208
83.4
+22.1%
Diluted shares, weighted
111m
113m
115m
-2.0%
Shares outstanding at period end
109m
110m
112m
-0.8%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
-5,283
-4,824
-3,667
Redeemable equity
17.2
15.2
16.1
+13.5%
Debt
12,303
11,096
10,334
+10.9%
Operating lease liabilities
1,979
2,092
2,277
-5.4%
Finance lease liabilities
2.1
2.0
2.5
+5.2%
Other liabilities
784
777
797
+0.9%
Total liabilities and equity
9,802
9,158
9,760
+7.0%
Fixed assets
2,575
2,677
2,795
-3.8%
Intangible assets
2,803
3,156
3,627
-11.2%
Investments
48.7
58.3
13.8
-16.5%
Cash and equivalents
367
309
108
+19.0%
Receivables
102
74.1
132
+37.6%
Other assets
3,905
2,884
3,084
+35.4%
Total assets
9,802
9,158
9,760
+7.0%
10-K for the year ended 31 December 2021, filed 1 March 2022: the filing.