SBA Communications (SBAC) FY2022 results: revenue $2.6 billion, up 14.1% on the year
SBA Communications Corp. (SBAC) reported revenue of $2.6 billion for fiscal 2022, the year ended 31 December 2022, up 14.1% on the year before. Net income was $461 million, up 94.2%, and diluted earnings per share $4.22. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2023.
Revenue
$2.6 billion
+14.1% on the year
FY2015FY2022
Operating margin
35.1%
33.9% a year earlier
FY2015FY2022
Net income
$461 million
+94.2% on the year
FY2015FY2022
Diluted EPS
$4.22
+97.2% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,286
1,190
1,126
+8.1%
Capital expenditure
214
134
129
+60.4%
Free cash flow
1,071
1,056
997
+1.4%
Free cash flow margin
40.7%
45.7%
47.9%
Cash from investing
-1,394
-1,423
-446
Cash from financing
-135
339
-469
Depreciation and amortisation
708
700
722
+1.1%
Share-based compensation
99.9
84.4
68.9
+18.4%
Buybacks
432
583
859
-25.9%
Dividends paid
307
254
208
+21.0%
Diluted shares, weighted
109m
111m
113m
-1.6%
Shares outstanding at period end
108m
109m
110m
-0.9%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
-5,276
-5,283
-4,824
Redeemable equity
31.7
17.2
15.2
+84.0%
Debt
12,868
12,303
11,096
+4.6%
Operating lease liabilities
2,037
1,979
2,092
+2.9%
Finance lease liabilities
3.1
2.1
2.0
+48.2%
Other liabilities
921
784
777
+17.5%
Total liabilities and equity
10,585
9,802
9,158
+8.0%
Fixed assets
2,714
2,575
2,677
+5.4%
Intangible assets
2,776
2,803
3,156
-1.0%
Investments
42.0
48.7
58.3
-13.7%
Cash and equivalents
144
367
309
-60.9%
Receivables
184
102
74.1
+80.8%
Other assets
4,725
3,905
2,884
+21.0%
Total assets
10,585
9,802
9,158
+8.0%
10-K for the year ended 31 December 2022, filed 1 March 2023: the filing.