SBAC SBA Communications margins

Relative Growth: Rel. Growth: 75

Relative Strength: Rel. Strength: 26

Relative Valuation: Rel. Valuation: 53

Relative Profitability: Rel. Profitability: 59

Gross margin

75.2%

Operating margin

47.6%

EBITDA margin

70.1%

Net margin

34.5%

At present, SBA Communications reports a gross margin of 75.2%, an operating margin of 47.6%, an EBITDA margin of 70.1%, and a net margin of 34.5%. The strongest positive change was in EBITDA margin, higher by 8.1 percentage points. The strongest negative change was in operating margin, lower by 4.8 percentage points.

SBAC margin history

Gross, operating, EBITDA and net margin trends

SBA Communications's margins averaged 77.05% gross, 46.88% operating, 62.22% EBITDA, and 28.46% net during the last 3 years. SBA Communications's current metrics show that operating, EBITDA, and net margins are above their three-year averages and gross margin is below its three-year average.

SBAC margin expansion

Year-over-year margin changes in percentage points

The largest positive change was in EBITDA margin, up 8.1 percentage points. Net margin also expanded by 2.2 percentage points, while gross margin contracted by 1.7 percentage points and operating margin by 4.8 percentage points.

Gross margin expansion

-1.7pp

Operating margin expansion

-4.8pp

EBITDA margin expansion

8.1pp

Net margin expansion

2.2pp

SBAC Gross margin

SBA Communications's gross margin averaged 77.05% during the last 3 years. SBA Communications's current gross margin is 75.2% and is 1.9 percentage points below its three-year average. Over the last 3 years, SBA Communications's gross margin peaked at 78.6% in Jun 2024 and reached a low of 75.2% in Mar 2026.

SBAC Operating margin

The average operating margin for SBA Communications was 46.88% in the last 3 years. The latest operating margin for SBA Communications is 47.6%, 0.7 percentage points above its three-year average. The operating margin for SBA Communications moved between 34.1% in Dec 2023 and 53.9% in Mar 2025.

SBAC EBITDA margin

Across the last 3 years, SBA Communications's EBITDA margin averaged 62.22%. As of the latest period, SBA Communications's current EBITDA margin is 70.1%, which is 7.9 percentage points above its three-year average. EBITDA margin was highest at 71.4% in Dec 2025 and lowest at 54.9% in Jun 2024.

SBAC Net margin

Over the last 3 years, the average net margin for SBA Communications was 28.46%. The latest net margin for SBA Communications is 34.5%, 6 percentage points above its three-year average. SBA Communications's net margin ranged from a low of 18.5% in Dec 2023 to a high of 37.4% in Dec 2025.

SBAC margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 75.2%, SBAC is above the Real Estate sector, the industry and its peers average. Compared to its Real Estate sector average of 63%, SBA Communications's gross margin is 19% higher.

SBAC margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is SBA Communications's gross margin?

As of Jun 30, 2026, SBAC has a gross margin of 75.2%.

What is SBA Communications's operating margin?

As of Jun 30, 2026, SBAC has an operating margin of 47.6%.

What is SBA Communications's EBITDA margin?

As of Jun 30, 2026, SBAC has an EBITDA margin of 70.1%.

What is SBA Communications's net margin?

As of Jun 30, 2026, SBAC has a net margin of 34.5%.

What are the average margins of SBAC?

Across the last 3 years, SBAC averaged 77.1% gross, 46.9% operating, 62.2% EBITDA, and 28.5% net.

What are the highest historical margins of SBAC?

SBA Communications's highest recorded margins during the past 5 years were 78.6% gross in Jun 2024, 53.9% operating in Mar 2025, 71.4% EBITDA in Dec 2025, and 37.4% net in Dec 2025.

What are the lowest historical margins of SBAC?

Within the 5-year period, SBAC recorded its lowest margins at 74.6% gross in Dec 2022, 33.9% operating in Dec 2021, 54.9% EBITDA in Jun 2024, and 10.3% net in Dec 2021.