SBA Communications (SBAC) FY2024 results: revenue $2.7 billion, down 1.2% on the year
SBA Communications Corp. (SBAC) reported revenue of $2.7 billion for fiscal 2024, the year ended 31 December 2024, down 1.2% on the year before. Net income was $750 million, up 49.4%, and diluted earnings per share $6.94. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2025.
Revenue
$2.7 billion
-1.2% on the year
FY2017FY2024
Operating margin
53.6%
34.1% a year earlier
FY2017FY2024
Net income
$750 million
+49.4% on the year
FY2017FY2024
Diluted EPS
$6.94
+50.5% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,335
1,544
1,286
-13.6%
Capital expenditure
228
237
214
-3.6%
Free cash flow
1,107
1,308
1,071
-15.4%
Free cash flow margin
41.3%
48.2%
40.7%
Cash from investing
-809
-468
-1,394
Cash from financing
646
-1,017
-135
Depreciation and amortisation
270
716
708
-62.4%
Share-based compensation
74.4
87.9
99.9
-15.4%
Buybacks
200
100
432
+100.0%
Dividends paid
424
370
307
+14.7%
Diluted shares, weighted
108m
109m
109m
-0.8%
Shares outstanding at period end
108m
108m
108m
-0.5%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
-5,110
-5,171
-5,276
Redeemable equity
54.1
35.0
31.7
+54.5%
Debt
13,592
12,324
12,868
+10.3%
Operating lease liabilities
1,902
1,863
2,037
+2.1%
Finance lease liabilities
1.9
3.2
3.1
-40.7%
Other liabilities
978
1,124
921
-13.0%
Total liabilities and equity
11,417
10,178
10,585
+12.2%
Fixed assets
2,792
2,712
2,714
+3.0%
Intangible assets
2,389
2,456
2,776
-2.7%
Investments
275
25.6
42.0
+976.0%
Cash and equivalents
190
209
144
-9.0%
Receivables
146
183
184
-20.3%
Other assets
5,626
4,594
4,725
+22.5%
Total assets
11,417
10,178
10,585
+12.2%
10-K for the year ended 31 December 2024, filed 26 February 2025: the filing.