The latest financial statement is for the year ending 2025-12-31.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 1,054,456 | 748,677 | 497,415 | 459,799 |
| Depreciation, accretion, and amortization | 292,285 | 269,517 | 716,309 | 707,576 |
| Non-cash asset impairment and decommission costs | 174,085 | 91,279 | 154,947 | 42,807 |
| Non-cash compensation expense | 75,734 | 74,374 | 87,919 | 99,909 |
| (gain) loss on remeasurement of u.s. denominated intercompany loans | 119,925 | -236,467 | 81,222 | 20,295 |
| Loss from extinguishment of debt, net | - | -5,940 | - | -437 |
| Deferred income tax expense (benefit) | 104,451 | -13,087 | 4,629 | 32,901 |
| Non-cash interest expense | 8,857 | 27,661 | 35,868 | 46,109 |
| Amortization of deferred financing fees | 21,866 | 21,265 | 20,273 | 19,835 |
| (gain) loss on sale of assets | 208,399 | - | - | - |
| Other non-cash items reflected in the statements of operations | -67,544 | -15,829 | -43,785 | -9,742 |
| Accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts, net | 56,247 | -18,109 | -44,386 | 81,351 |
| Prepaid expenses and other assets | 73,430 | 19,480 | 35,498 | 29,746 |
| Operating lease right-of-use assets, net | 129,935 | 127,182 | 141,114 | 135,473 |
| Accounts payable and accrued expenses | -17,516 | -4,402 | -66,324 | 25,118 |
| Long-term lease liabilities | -129,586 | -141,214 | -138,699 | -129,471 |
| Other liabilities | -32,782 | -123,251 | 119,491 | -33,143 |
| Net cash provided by operating activities | 1,291,328 | 1,334,866 | 1,544,393 | 1,285,700 |
| Acquisitions | 1,058,828 | 299,811 | 129,961 | 1,176,092 |
| Capital expenditures | 224,819 | 228,149 | 236,698 | 214,443 |
| Purchase of investments | 1,166,312 | 1,800,683 | 1,339,026 | 881,781 |
| Proceeds from sale of investments | 1,404,262 | 1,536,750 | 1,338,354 | 878,138 |
| Repayment (funding) of loan to unconsolidated joint venture | -115,000 | - | - | - |
| Loan to unconsolidated joint venture | - | 11,100 | 100,494 | - |
| Proceeds from sale of assets | 330,650 | - | - | - |
| Other investing activities | 1,782 | 6,317 | 421 | -524 |
| Net cash used in investing activities | -601,829 | -809,310 | -468,246 | -1,393,654 |
| Borrowings under revolving credit facility | 695,000 | 370,000 | 190,000 | 975,000 |
| Repayments under revolving credit facility | 220,000 | 550,000 | 730,000 | 605,000 |
| Proceeds from issuance of term loans, net of fees | - | 2,280,565 | - | - |
| Repayment of term loans | 23,000 | 2,292,244 | - | - |
| Proceeds from issuance of tower securities, net of fees | - | 2,052,136 | - | 839,885 |
| Repayment of tower securities | 1,165,000 | 620,269 | - | 640,000 |
| Repurchase and retirement of common stock | 497,805 | 200,019 | 100,010 | 431,666 |
| Payment of dividends on common stock | 479,012 | 424,191 | 369,960 | 306,766 |
| Proceeds from employee stock purchase/stock option plans | 55,554 | 35,986 | 44,196 | 38,303 |
| Payments related to taxes on stock options and restricted stock units | 25,507 | 18,801 | 27,481 | 9,958 |
| Other financing activities | -3,805 | 12,579 | -23,963 | 4,728 |
| Net cash (used in) provided by financing activities | -1,663,575 | 645,742 | -1,017,218 | -135,474 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 10,440 | -21,587 | 2,734 | -2,915 |
| Net change in cash, cash equivalents, and restricted cash | -963,636 | 1,149,711 | 61,663 | -246,343 |
| Beginning of year | 1,400,657 | 250,946 | 189,283 | 435,626 |
| End of year | 437,021 | 1,400,657 | 250,946 | 189,283 |
SBA COMMUNICATIONS CORP (SBAC)
SBA COMMUNICATIONS CORP (SBAC)